In an effort to provide a comprehensive benefits program and offer an opportunity to bring on full time frontline employees we must establish expense and bonus policies that are corporately responsible.
Expense Policy effective 30 days from the documents’ acceptance.
● All expenses should be reasonable and required to support the business.
● All expenses must be submitted on a business expense report in a timely manner.
● All expenses in excess of $25 must have a receipt.
● Any expense exceeding $100 for regular employees must have manager approval.
● Any expense exceeding $500 for a manager must have director approval.
● Any expense exceeding $2500 must have a purchase order.
Bonus effective new fiscal year.
● Bonus amounts shall be appropriate; related to profits made by the company.
● Any profit that exceeds forecasted goals by 20% or more will be shared with all employees.
● Executive bonus will pay out only if the company makes at least $1.
● Executive bonus will start at 10% of annual salary and not exceed 25%.
Every penny counts while we ae in a building process and we must make sure that we are spending the corporations’ money responsibly.
Benefit policy
A …show more content…
Legal issues are somewhat easier to determine based on Federal, Local and State laws. There are however some grey areas regarding legal issues, that is why we have a judicial system in place to determine if a law has been broken or not. TechFite is facing legal issues in regards to reduction of hours for its employees so that they can reduce the hours of the line workers so medical insurance does not have to be paid. The excessive payment of bonuses to top officials within the corporation is an ethical issue to be because, how do you pay official extra money and you cannot pay medical benefit to your line worker and you also are breaking the law by reducing their hours so you can avoid this
Expense Policy effective 30 days from the documents’ acceptance.
● All expenses should be reasonable and required to support the business.
● All expenses must be submitted on a business expense report in a timely manner.
● All expenses in excess of $25 must have a receipt.
● Any expense exceeding $100 for regular employees must have manager approval.
● Any expense exceeding $500 for a manager must have director approval.
● Any expense exceeding $2500 must have a purchase order.
Bonus effective new fiscal year.
● Bonus amounts shall be appropriate; related to profits made by the company.
● Any profit that exceeds forecasted goals by 20% or more will be shared with all employees.
● Executive bonus will pay out only if the company makes at least $1.
● Executive bonus will start at 10% of annual salary and not exceed 25%.
Every penny counts while we ae in a building process and we must make sure that we are spending the corporations’ money responsibly.
Benefit policy
A …show more content…
Legal issues are somewhat easier to determine based on Federal, Local and State laws. There are however some grey areas regarding legal issues, that is why we have a judicial system in place to determine if a law has been broken or not. TechFite is facing legal issues in regards to reduction of hours for its employees so that they can reduce the hours of the line workers so medical insurance does not have to be paid. The excessive payment of bonuses to top officials within the corporation is an ethical issue to be because, how do you pay official extra money and you cannot pay medical benefit to your line worker and you also are breaking the law by reducing their hours so you can avoid this