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Human Resource Competitive Strategy involves development of policies that favor a better environment for the biggest resource of any company, human capital. One such example is providing a flexible work schedule for employees that demand it. Increased flexibility is a commonly used competitive strategy to retain employees due to increased work satisfaction (Jackson, Schuler, & Jiang, 2014). While companies favor policies that enable innovation and communication, flexibility is increasingly a requirement for some employees making it a key aspect of human resource management to consider. Another key aspect of a competitive strategy is development of a comprehensive compensation and benefits package.
According to Bureau of Labor Statistics (BLS), an administrative assistant working within the industry of 'Management of Companies and Enterprises' earn on average, $60,320 or $29.00/hour (BLS, 2017). Although another page of the BLS site points to the average salary of a secretary or administrative assistant being $36,000 or $17.55 per hour (BLS, 2017). For development of a benefits package, an administrative assistant would need the following legally required benefits:
1. Social Security
2. Medicare
3. Federal and State Unemployment Insurance
4. Worker's Compensation
Discretionary benefits or voluntary benefits differ and can include various kinds of insurance...
For example, a benefits package could include paid lunches and transportation or the option of taking certain days off. This may seem counterproductive, but can lead to a higher rate of satisfaction for the employee. Satisfied employees typically produce higher productivity rates than unsatisfied employees. "Our findings show that a lack of organizational authenticity in terms of both under-promising and over-promising to both employees and customers is associated with lower productivity, which in turn is related to long-term merger performance, thus affecting outcomes for shareholders" (Cording, Harrison, Hoskisson, & Jonsen, 2013, p. 38).
When it comes to impact of major federal employment legislation and regulations on human resource compensation and benefit packages, a couple of laws have made a large enough change in how businesses handle benefits. For example, one major change was health care reform and the introduction of the Affordable Care Act. The Affordable Care Act made it more complex to determine need employer obligation for health insurance (Kantarjian, 2016). Another key act was the Equal Pay…
References
BLS. (2017). Executive Secretaries and Executive Administrative Assistants. Retrieved from https://www.bls.gov/oes/current/oes436011.htm
BLU. (2017). Secretaries and Administrative Assistants: Occupational Outlook Handbook:: U.S. Bureau of Labor Statistics. Retrieved from https://www.bls.gov/ooh/office-and-administrative-support/secretaries-and-administrative-assistants.htm
Cording, M., Harrison, J. S., Hoskisson, R. E., & Jonsen, K. (2013). Walking the Talk: A Multistakeholder Exploration of Organizational Authenticity, Employee Productivity, and Post-Merger Performance. Academy of Management Perspectives, 28(1), 38-56. doi:10.5465/amp.2013.0002
Jackson, S. E., Schuler, R. S., & Jiang, K. (2014). An Aspirational Framework for Strategic Human Resource Management. The Academy of Management Annals, 8(1), 1-56. doi:10.1080/19416520.2014.872335
Funds will be managed by Prudential Financial Services for maximum benefit to the employee (Prudential.com). Prudential offers a number of retirement products for employees to choose from and they have a proven track record for positive fund management. In order to encourage long-term employment with the company, employees will not be fully vested in their contributions until they have been with the company for a full five years. The percentage
Sporadic bonuses across the year also help employee performance to stay more consistent. "Set up a series of smaller rewards throughout the year to motivate ongoing performance excellence. For example, instead of an annual trip, award several three-day getaways for each quarter. Vary the basis for the awards. Top sales might be one category, but so can top research or most diligent. Recognize that several types of excellence motivate your
Her salary should logically be more than what Public Relations Department pays normally to an Administrative Assistant. Such changes would increase the morale of the staff members and they would be more inclined to working harder and more efficiently. This in turn would only benefit this organization as the output of work would be at its peak. Hence new titles with revised job descriptions and increased salary for those
Recruiting and Retention Strategies of Office Temporary Employees An in-depth analysis of the temporary office employee industry as it pertains to recruiting and retention of those employees. This paper presents a detailed proposal for the recruiting and retention of temporary office workers. The writer is employed as a full time on site recruiter of temporary office workers at one of Wall Street's top financial firms. The majority of the temporary help the
Human Resources Pay Package Employee Compensation Plan Target Job: Registered Nurse (RN) in a Hospital Hillcrest Hospital is a 496 bed hospital located in Mayfield Heights, a Cleveland Ohio Suburb. Hillcrest is ranked in the nation's top 100 in cardiac care. It is part of the Cleveland Clinic system. The mission of the hospital is to provide nationally ranked healthcare to the surrounding community. It holds clinical excellence, safety, ethics, integrity, individual responsibility,
Appalachian Trail Conservancy Grant Proposal The Appalachian Trail Conservancy having served the American population is experiencing high incidences of congestion of its premises and most of the premises are worn out. This problem has reached a point where public safety as well as hiking activities may be in jeopardy. Therefore, the Conservancy respectfully submits its proposal to the Corporate Giving Program for $250,000 to support its land acquisition and renovation of