Introduction
The organization that I want to design the employee compensation and benefits package is the company offering medical wholesale to the domestic and global market. The corporate office of pharmaceutical wholesale will be located, Los Angeles. The organization will provide the customers with various health care services and products. Furthermore, the company will sell the medical commodities and services online to enable the global customers to get the services. This company will have four other outlets and a total number of 230 employees. Each location will be able to offer the consumers with face to face services or through the Internet. As a new human resource department, I will employ a secretary who will be in charge of the paperless documents and records in papers.
The position I am developing is employee compensation and benefits for the post of a secretary. According to research conducted from the Bureau of Labor Statistics, the salary for the secretary per hour is $23 per hour. This analysis is also based on how the other organizations pay their secretaries. The company offers this competitive package of salary to the secretary to attract the qualified secretaries who will provide quality services to the consumers (Folsom & Boulware, 2004). Research also indicates that the position is nonexempt and working overtime will require approval from the executive management of the company. The employee in the post is expected to have fixed working hours. It is important for an organization to maintain the rising premiums of different premiums. Most of the companies have chosen different incentives to keep the health of their employees. The best premium of the organization is Health Maintenance Organizations. In this option, the employee is expected to choose the principal care physician who helps in managing the health care of the employees (Purchase, 2017). This health insurance will work in that the organization is expected to pay every doctor’s visit copayment and the company pays the rest. Therefore, the company will pay for the secretary part of the money after visiting the physician. This position will offer the secretary with vision, medical, and dental plan.
According to the social security, the company will pay 8% while the employee will pay 7%. Through this, the employee will be able to realize the benefit as it will include pay without working. Furthermore, the company will also pay five holidays and 48 hours of the sick pay. The benefits package for this position is inclusive of a well-designed and developed 401k contribution plan (Purchase, 2017). The employee will have the chance of making the contributions only after 120 days of acceptable performances.
The task of the secretary includes answering calls of the human resource manager in case the HR manager is absent. Another item includes routing and receiving documents and messages of the suitable staff (Folsom & Boulware, 2004). This company will provide a plan in case the employee or a member of the family in the occurrence of Accidental Death or Dismemberment (AD&D). In the presence of death, the company will contribute two times the salary of the employee. The company also offer additional package in case the employee wishes to purchase. Another package of the employee compensation and benefits analysis in the long-term disability.in this package the employee is required to pay a total premium cost of $143 to get a tax-free payment.
According to Biswas, (2014) this package is essential because it helps the employee who is unable to wide-ranging a certain percentage of the principal duties he or she is entitled because of the ongoing basis. Another program that is included in the package is the Employee Assistance Plans. This package also assists in solving the problems that are affecting the employee with the different personal problems affecting their performance at work (Purchase, 2017). Additionally, this plan helps in supporting the employees to reduce conflict which affects the worker.
After the secretary retires at the age of fifty years, he or she will get the retirement benefits. The retirement benefits package requires the employer and the employee to contribute a total amount of $6 each on a monthly basis. After one retire, the money will be accrued to get the full sum. This form of benefit is necessary because it is usually deliberated as a kind of deferred income (Biswas, 2014). The contributions are made in the form of RRSPs. Indirect and non-financial compensation is another item that should be included in the employee compensation and benefits package (Folsom & Boulware, 2004). The compensation is always aligned to the various strategic objectives of the organization. Through this, the company can get creative and flexibility, and this can keep the highly skilled workers.
In conclusion, the employee compensation and benefits package are significant in every organization. They help the business to do research and compare the employee compensation benefits with the other organizations. This package aid the company to employ a competitive employee who will offer quality services to the consumers, which will further lead to the success of the organization. The health insurance, dental, vacation, salary, and retirement package discussed above explicitly examines the package of the opposition of the Secretary in the new organization.
References
Biswas, B. (2014). Employee benefits design and planning: A guide to understanding accounting, finance, and tax implications.
Folsom, W. D., & Boulware, R. (2004). Encyclopedia of American business. New York: Facts On File.
Purchase, D. (2017). Chief Officer: Principles and practice. Burlington, MA: Jones & Bartlett Learning
