Employee Compensation and Benefits Package

849 words | 3 page(s)

This organization is for a health care facility. The secretary will be utilized as the initial contact between the general public to the facility. For example, the secretary will be responsible for transferring calls from doctors and pharmacists to the appropriate nurse’s station. Therefore, the secretary will need to be well informed about HIPAA and other laws and regulations as they pertain to health care. The secretary can help in all nurse’s stations as needed. In addition, the secretary will be responsible for mail duties, assisting with financial statements, and any other tasks as assigned.

Employee compensation and benefits has changed drastically from World War I. During this time period, “most employees were paid no more than a straight-time hourly wage” (Marshall, 2003). Furthermore, the company agrees with the belief that “compensation decisions can have important consequences for key outcomes like job satisfaction, attraction, retention, performance, flexibility, initiative, commitment, cooperation, skill acquisition, individual performance, and organization performance” (Salvendy, 1994). Therefore, the company prides itself in its modern employee compensation and benefits package. For example, the company has considered the demographics of the area in terms of deciding on particular salary rates. These demographic changes include “the increase of dual-earner families” (Marshall, 2003). Therefore, the base rate for this position is to be $20.00 an hour. If requested to work overtime, the rate will include overtime, resulting in a total of $30.00 an hour. The company considers this rate quite fair when taking in consideration the non-monetary benefits that are associated with the position. The employee will have regular job performance assessments, which will result in raises. The company considers employees to be the most valuable asset. When determining an appropriate compensation and benefit package, the company discovered that, “research on compensation plans indicates that explicit financial rewards in the form of transitory performance-based bonuses seldom account for an important part of a worker’s compensation” (George P. Baker, 2012). Therefore, it is exceedingly important to reward all employees appropriately. As a result, the company feels it is necessary to offer a generous base salary, overtime, and other non-monetary benefits, such as including sick time, vacation time, insurance, and saving options. In addition, the company offers options regarding health maintenance and childcare services.

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The company offers paid time off. In fact, for every 8 hours worked, the employee earns .15 hours off. In other words, for every 8 hours worked, the employee will earn 15 minutes off. This results in earning 10 hours a week in paid time off. This time off can be used in any way that the employee wishes. However, the employee will want to remember that if the accumulated time is not used within the fiscal year from the hire date, the employee will lose this time. Each employee starts a fresh year on the anniversary of their hire date. The company offers funeral and jury duty paid time off as well. Immediate family members (such as grandparents, children, siblings, and parents), with documentation, are included in this time off. However, the company goes one step further. If the employee is in a committed relationship and can provide evidence of long-term (6 months or more) cohabitation, the company will extend this time off to include funeral leave for immediate family members of the employee’s partner. Funeral paid time off is based on the family member. If evidence is shown that the employee is in charge of final arrangements, the employee will receive 5 days off. If the employee is simply attending the funeral, the employee will receive 3 days off. Jury duty leave is considered for the day of jury duty. If the jury duty period extends a longer amount of time, the employee will keep in contact with the employer in order to discuss extended time off. Sick time is offered with each pay period. For example, the employee will earn 8 1/2 hours of sick time per pay period. Each pay period is 2 weeks long.

The company pays 75% of the employee’s health care premium. If including a family, the company pays 50% of the premium. This total includes vision and dental. The employee is responsible for disability insurance and prescription medication discounts. The company offers a $15,000 life insurance policy, with the option for the employee to add extra benefits. In addition, the company has contracted with local gyms to offer gym memberships at a discounted rate of half of the regular monthly or yearly rate. The company offers 401k options. In fact, the company meets the employee contribution during the first year at 25%, 50% in the second year, 75% in the third year, and 100% for each subsequent year. Child care services are based on individual circumstances.
The benefits and compensation package is summarized in the following table.

    References
  • George P. Baker, M. C. (2012, April 30). Compensation and Incentives: Practice vs. Theory. Retrieved from The Journal of The American Finance Association: http://onlinelibrary.wiley.com/doi/10.1111/j.1540-6261.1988.tb04593.x/full
  • Marshall, K. (2003, May 21). Benefits of the Job. Retrieved from Perspective on Labour and Income: http://www.statcan.gc.ca/pub/75-001-x/00503/6515-eng.html
  • Salvendy, W. K. (Ed.). (1994). Organization and Management of Advanced Manufacturing. New York: John Wiley & Sons, Inc.

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