Important aspects of analyzing and examining
As the newly appointed director of the human resource department, I have a task to perform of hiring a new secretary for the Department. The following is a presentation of the employee’s compensation and benefits package in a car manufacturing company. The first step is to assess and analyze the pay structure of the organization. The second crucial step will be examining and analyzing the current trends in other agencies operating in the automotive industry. Analysis of the compensation policies of other companies in the industry gets assessed through cost analysis and the use complex data to acquire as much information as possible. The primary aim of conducting this research is to gain insight on offers such as incentives, bonuses and paid leave. In developing the package, there is need to ensure that the company complies with state laws and regulations such as minimum wage, overtime, compensation as well as equal pay laws.
On the other hand, while trying to develop a benefits package, I will look into the benefits programs that the company provides to its staff such as wellness programs, retirement plans, insurance policies as well as leave policies. Finally, in the course of developing the compensation and benefits package for the new employee, some attention will be diverted to the government legislations and regulations and the current trends in benefits to ensure that the implemented package is legal, present and remains competitive in the industry. Developing a compensation and benefits package will require thorough financial planning as most packages are very expensive. Running the organizations may be substantially affected by business cycles; in such periods the organizations will not halt to provide benefits to its staff hence a need for thorough financial planning.
Employee’s liability for compensation
An employee will be liable for compensation if they sustain an injury or death resulting from out of and during his employment period. Compensation will be appropriate, only if death and injury arose from situations such as; when the employee was travelling from his residence to his workplace. Driving on a direct route from his home with an aim to connect with his employer and finally visiting with an intention to meet his boss by a mode of transport that is allowed by the company. However, compensation lacks guarantee in instances where sustained injuries do not incapacitate the employee at his usual work to earn full wages. Additionally, if the damage was intentional, then the employee is not liable for compensation. The other instance when an employee may be liable for compensation would arise from an occupational disease in the course of performing his employment duties.
Employee’s benefits
The new employee will get insurance cover from Health Maintenance Organizations program that gives the employees an option for their primary care physician. The physician will aid the employees by recommending them to other medical practitioners who are part of the Health Maintenance Organization. The company will also provide a flexible spending account (FSAs) to the new employee, to assist in covering necessary medical expenses. The organization will implement a retirement savings plan whereby a portion of the contribution towards the scheme is from pre-tax earnings by the employer. The new employee will also enjoy benefits from other plans like family medical care leaves as well as paternity leaves. The new employee in his first year get an offer for a one week paid leave but from the preceding years, he will be allowed two weeks leave annually. Finally, the employee will benefit from flex time, implying that he can work at his most convenient time provided he completes his assignments on time.
References
Cardoso, A. R., & Monfardini, C. (2008). Compensation policies within firms: evidence from linked employer‐employee data. International Journal of Manpower, Vol. 29 Iss: 1, 4-7.
Employees Compensation Appeals Board. (2010). Digest and Decisions of the Employees Compensation Appeals Board, V. 59. Washington DC: Government Printing Office.
Labour Department. (2015). A Concise Guide to the Employees' Compensation Ordinance. Washington DC: Labour Department.
Labour Department. (2015). Handling of Employees’ Compensation Case. Washington DC: Labour Department.
