Monday, May 25, 2020
Week 3 Team Assignment Essay - 1483 Words
Compensation and Benefits Strategies Recommendations Team A MGT/521 Human Capital Management February 5th, 2015 Dr. Andrea Diese Landslide Limousines Compensation and Benefits Strategy Recommendation This paper provides an analysis of a proposed benefits and compensation package for Landslide Limousines that is comparable to companies that are similar in size and scope in Austin, Texas. Team A proposes a compensation structure and position in the market, as well as a total compensation and benefits strategy for the company. Performance incentives and merit pay to recognize and engage employees is also discussed in this paper. Laws related to the benefits and pay program are outlined and examined in detail. Market Evaluation.†¦show more content†¦Total Compensation and Benefits Strategy. Landslide Limousine will engage in a comprehensive compensation strategy that should include three core facets to be successful. These three facets or portions will be based on experience level, position in the company, and overall customer satisfaction. The first facet that Landslide will utilize is a traditional position-based compensation model, this allows the compensation strategy to be divided into the jobs of the organization, competition will make more sense and be more transparent to the employees. This will also allow for a positive motivator and friendly competition among peers. Each separation position within the company will be entitled to compensation levels that are understood within the industry to be recognized as a standard based on the employees position and responsibilities in the company. The second facet of the strategy will be determined by the experience of each driver and or employee. Incremental pay raises will be determined by the experience gained and performance level of the employee. These raises will have a set ceiling of an additional $5,000 per year, with a ceiling of $65,000 total annual salary. Minimum pay increases will be tracked based on company success and profits. The third facet of our compensation and benefits strategy will be based solely on customer satisfaction. Customer satisfaction compensation will be given primarily through scheduling benefits (time off awards andShow MoreRelatedQnt351 Week 3 Team Assignment Essay1791 Words  | 8 Pagesat the top of the sheet and then following the lines of the data set the number responses file down the sheet. Here is an example: No. Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 A B C D 1 3 4 0 1 5 1 3 0 3 2 3 37 2 2 2 5 5 5 5 5 3 5 5 2 5 1 12 1 2 3 1 2 1 5 5 1 1 1 1 1 2 76 1 2 4 2 5 3 3 2 4 5 1 3 4 2 3 2 1 5 4 4 5 1 4 1 3 3 2 4 2 16 1 2 If there was any data missing when the information was entered, the decision was made to just enter a zero. 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