The insurance for the disabled employees should be available and also medical insurance to cover the medical bill. A substantial health savings account should help employees save money to cover their hospital bills with no difficulty. Employees should be paid while on vacation and during their off which will be determined by the employment status and duration of service. There should be professional training free of charge every month in order to develop and improve career of employees and train them for leadership.
Employees should be provided with rooms for peer interaction as a team and have flexible schedules and locations (www. 4ulr. com). The process for determining the benef...
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...it package To begin with, define the category of the benefit to be offered whether it is to superiors or subordinates. Next, use explicit criteria which can be based on performance, then set the guidelines assess all the employees without discrimination or favourism, lastly use formulas or models to calculate how much each individual employee is supposed to get. Individual elements to be included in the plan
The economic benefit of implementing the plan which is increased productivity. The number of customer should increase in order to increase sales and annual contribution to the scheme to ensure that it is feasible. The market condition should be favorable for example high prices which leads to increased revenue generated and reward every individual contribution. 3. How to establish wages and compensation for a newly formed company Employees who extend their working hours should be paid for any extra work done in order to motivate them to continue putting more effort.
The wages and compensation given should be in line with the salary scale of civil servants who work in similar industry with the company to reduce employee turnover where employees look for places where they are paid better. The wage should be based on the cost of living for the employee so that it can satisfy their basic needs and wants and match the lifestyle of where they are located (Bohlander, Snell, 2007) What to base my wage and compensation on Wages and compensation should be based on the workload available where employee will be paid depending on the amount of work they perform everyday.
The level of productivity will enable the company pay more when it is more productive or when the production increases and pay low when the production decreases. If the products are more marketable, sales will increase leading to huge amounts of revenue generated from sales which make employees salaries to increase. Compensation should also be based on employee individual performance where hardworking employees are recognized and paid more. Process to go through to establish the wages and compensation for different jobs within my newly formed company
Begin by classifying any class of service the employee offers, next, get a contractor before the performance begins who will note down all the work done by individual employees, then, confirm from the wage and hour division that the record is well kept for the work done and get advice from contraction officer on hw to distribute wages and salaries. 4. Steps taken to guarantee that my organization operate at the highest levels of legality and ethical behavior Corporate code of conduct should be adopted and employees understand that they must adhere to the code. Meetings should be held to introduce employees to the code.
Ethical consideration should be recognized in a decision model where reasons for the decision are considered. Base for ethical decision should be evaluated by the manager and be exposed to the other employees and the overall integration of ethics should be discussed and be incorporated with personal ethics to ensure that no conflict of interest arises. (Lewis,1994) How to establish these guidelines Ethical dilemma is identified and alternative courses of action Parties that are affected by the course of action are identified Consequences of the effects are determined The most beneficial and alternative that is least harmful is selected