A1a. Justify your pay policy.
In order for YLSS to lead the market in a manner to attract qualified candidates, the minimum starting pay is increased an additional two thousand as opposed to local competitors. By increasing the pay scale this allows for an attractive offer that candidates will likely not decline. By also incorporating commission and annual bonuses to all employees this shows respect to all position in the organization and equality for a commission or bonus pay.
A2. Recommend two adjustments and/or additions to the existing base pay-policy mix.
1. The first adjustment to the pay policy mix would be to no offer bonus to customer service representative or the administrative assistant, instead include a gain share.
2. The second adjustment to the pay policy mix would be to include profit sharing. By offering a 2% profit share of the employee salary this not only attracts …show more content…
The second adjustment is offering profit sharing to all employees. This reinforces the appreciation of the employee’s dedication to the organization. By offering profit sharing to all employees it sets the standard of respect that all employee positions are valuable to the company and increases the retention rate of employees in all departments.
A3. Recommend three adjustments and/or additions to the current benefits portfolio. As you answer A3 you are looking at what was presented in the attachment to Task 2 and either expanding current benefits or creating entirely new benefits. Be sure to include three separate and specific recommendations. You should be specific in number or dollar amounts.
1. The first addition to the current benefits portfolio would be to include Basic Life Insurance Base Salary at 100% paid by employer.
2. The second addition to the current benefits portfolio would be to include medical dental and vision insurance paid at 65% of the employer.
3. The third adjustment the current benefits portfolio would be to include earned paid time
In order for YLSS to lead the market in a manner to attract qualified candidates, the minimum starting pay is increased an additional two thousand as opposed to local competitors. By increasing the pay scale this allows for an attractive offer that candidates will likely not decline. By also incorporating commission and annual bonuses to all employees this shows respect to all position in the organization and equality for a commission or bonus pay.
A2. Recommend two adjustments and/or additions to the existing base pay-policy mix.
1. The first adjustment to the pay policy mix would be to no offer bonus to customer service representative or the administrative assistant, instead include a gain share.
2. The second adjustment to the pay policy mix would be to include profit sharing. By offering a 2% profit share of the employee salary this not only attracts …show more content…
The second adjustment is offering profit sharing to all employees. This reinforces the appreciation of the employee’s dedication to the organization. By offering profit sharing to all employees it sets the standard of respect that all employee positions are valuable to the company and increases the retention rate of employees in all departments.
A3. Recommend three adjustments and/or additions to the current benefits portfolio. As you answer A3 you are looking at what was presented in the attachment to Task 2 and either expanding current benefits or creating entirely new benefits. Be sure to include three separate and specific recommendations. You should be specific in number or dollar amounts.
1. The first addition to the current benefits portfolio would be to include Basic Life Insurance Base Salary at 100% paid by employer.
2. The second addition to the current benefits portfolio would be to include medical dental and vision insurance paid at 65% of the employer.
3. The third adjustment the current benefits portfolio would be to include earned paid time