Human esource 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…...

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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

business has a robust benefits package, this can enable the hiring of talented employees and help retain high quality employees already hired. However, the expense made by maintaining a good benefits package can take a toll, especially as the costs rise each year. With proper planning and knowledge, a business can generate a win-win scenario for the employees and the business. There are several ways both in the long-term and short-term that a company can reduce costs while also maintain an attractive benefits package.
The first step is a long-term decision and that is tailoring benefits to the specific industry the business is about. It would be an error to choose a benefits provider that delivers substandard benefits or one that lacks expected ancillary benefits. A company must make an important discrepancy among benefits providers and whether their rates are based on demographics of a specific company or previous experiences…...

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References

Boroughs, A. and Palmer, L. (2016). HR Transformation Technology: Delivering Systems to Support the New HR Model. CRC Press.

Fisher, S. (2016). Making human resource management information technology decisions. New York: Business Expert Press.

employee benefits and compensation package for the post of a secretary for Guardian, hired by the firm's Human esources department. This package will incorporate particulars such as whether the employee will be non-exempt or exempt, and handling of overtime. Government regulations will also be discussed.
As firms are continually faced with growing pressure from competition, they strive to do more using fewer resources, and also strive to do this with improved quality. As sales volume, quality, innovation, and profit goals are increased, growth of employment is generally controlled tightly, and substantial employment slashes are made in many instances (Gerhart et al., 1995). In order to achieve more using fewer employees, effective human resource management (HM) is required. Typically, employee compensation structure contributes greatly in efforts for better management of human resources.

Employee compensation is such a major contributor as it lies at the core of the employment relationship, and is significantly…...

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References

(2012). 2012 Book Archive. Developing and Implementing Strategic HRM Plans. Retrieved June 6, 2015, from  http://2012books.lardbucket.org/books/beginning-management-of-human-resources/s06-developing-and-implementing-st.html 

Chaudhary, N., & Sharma, B. (2012). Impact of Employee Motivation on Performance (Productivity) In Private Organization. International Journal of Business Trends and Technology, 2(4). Retrieved, from  http://www.academia.edu/4990542/Impact_of_Employee_Motivation_on_Performance_Productivity_In_Private_Organization 

(n.d.). Day & Zimmermann: Engineering & Construction, Staffing & Defense. Compensation & Benefits. Retrieved June 6, 2015, from  http://www.dayzim.com/Careers/Compensation_and_Benefits 

Gerhart, B., Minkoff, H., & Olsen, R. (1995, ). DigitalCommons@ ILR | Cornell University ILR School Research. Employee Compensation: Theory, Practice, and Evidence. Retrieved June 6, 2015, from  http://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1193&context=cahrswp

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 of investiture will increase by 20% every year until the employee has reached the five-year mark. The amounts reflected in the represent the scenario where every employee is fully vested, with the company responsible for covering the entire amount.

Employees will be encouraged to begin aggressively saving for their retirement early. If employees in the investment age group contribute their maximum and the company must match its 5% then the contribution amount would be $74,937. This amount must set aside from…...

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References

Harris Poll. (2003). Health Care Poll. Harris Polls. October 22, 2003. 2 (9), 1-4. Retrieved May 2, 2008 at http://www.harrisinteractive.com/news/newsletters/wsjhealthnews/WSJOnline_HI_Health-CarePoll2003vol2_iss9.pdf

Pilette, P. (2005). Pressenteeism & Productivity: Two Reasons Employee Assistance Programs Make Good Business Cents. Annals of the American Psychotherapy Association. 8. Retrieved May 2, 2008 from www.questia.com/googleScholar.qst;jsessionid=LdLJR4Pd2bQdVDQhyPnJShHhh3X3B5pn2HGsDrLpv0KFvfnh1Q8W!600706942?docId=5009404200

Prudential. (2008). The Road to Retirement. Retrieved May 2, 2008 at  http://www.prudential.com/view/page .

Social Security Administration (SSA) (2008). Questions. Retrieved May 2, 2008 at _cats=7%2C66&p_hidden_prods=&cat_lvl1=7&cat_lvl2=66&p_search_text=&p_new_s earch=1&p_search_type=answers.search_nl.http://ssa-custhelp.ssa.gov/cgi-bin/ssa.cfg/php/enduser/std_alp.php?p_li=&p_page=1&p_cv=2.66&p_pv=&p_prods=&p

edesign
Employee Compensation and Benefits Package edesign Project

Project management can be one of the most difficult positions, especially when the project is not going as expected. In the redesign of the employee compensation and benefits package several issues have developed. The project is six weeks behind, team members are becoming discouraged, and one particular key member is consistently late with deadlines. In addition to these difficulties, the budget has been depleted quicker than expected. The following addresses actions that need to be taken in order to resolve the situation and get the project back on track.

From the beginning, it would be easy to place the blame on the underperforming team member and eliminate them. However, it is likely that the issue is much deeper and more difficult to resolve than this. Of course, the underperforming employee is the first issue that needs to be addressed. The best resolution to the…...

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References

Kloppenborg, T.J., Nkomo, S., (2012). Human resource project management (2nd ed.) Mason, OH: South-Western College Publishing

Butts, M.; DeJoy, D.; Schaffer, B. & Vandenberg, R. (Apr 2009). Individual Reactions to High

Involvement Work Processes: Investigating the Role of Empowerment and Perceived

Organizational Support. Journal of Occupational Health Psychology, 14(2), 122-136,

H professional can use in order to determine incentive pay within the workplace is connecting incentive pay with the performance of the employees. Setting up benchmarks helps the organization assess performance in the employees. If an employee's performance exceeds the placed benchmark, then that employee receives additional pay or incentive pay. Providing incentives to the employees allows for potentially higher sales and/or productivity as employees know where to rise up to in order to gain that particular incentive (Boyer, 2011, p. 285).
A simple example of this is setting up a sales goal and having sales associates receive a $100 bonus if they reach the sales goals for that month, or even doubling commission for anything sold past the sales goal amount. That way hard work is rewarded and the company gets more sales done each month. The goals can also be adjusted according to the skill level of the…...

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References

Acharya, V., Pagano, M., & Volpin, P. (2013). Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent.  http://dx.doi.org/10.3386/w18891 

Benefitfocus,. (2015). 6 Simple Steps to Communicate Total Compensation to Your Employees. Retrieved 4 December 2015, from https://www.benefitfocus.com/blogs/benefitfocus/tips-communicating-total-compensation-employees

Boyer, M. (2011). The twelve principles of incentive pay. Revue D'economie Politique, 121(3), 285.  http://dx.doi.org/10.3917/redp.213.0285 

Ek Spector, S. (2015). Should unemployment insurance cover partial unemployment?. IZA World Of Labor.  http://dx.doi.org/10.15185/izawol.199

Many of today's workers are experiencing great difficulty trying to juggle both work and family responsibilities. Because so many employees are single parents or members of dual-income families, often there is no one available at home during working hours to care for the family. Therefore, a number of companies have begun to institute work and family programs as part of a "totally integrated employee benefits system" in an effort to help employees cope with these problems.[2] Examples of such programs are as follows: The Los Angeles Department of Water and Power instituted the following programs:[3]* reduced cost for child care* care for mildly ill children* parenting support groups* a "beeper-alert" program (in which employees are loaned beepers when they have an imminent family emergency) J Nabisco has a time-off program in which parents can take time off to accompany their children on the first day of school or to attend…...

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References

Arthur, D. (2001). The Employee Recruitment and Retention Handbook. New York: AMACOM.

Bill Proposes Tax Incentives for Companies That Offer Gym Memberships. (2005, May). Occupational Hazards, 67, 20.

Champion-Hughes, R. (2001). Totally Integrated Employee Benefits. Public Personnel Management, 30(3), 287.

Cohany, S.R. (1996). Workers in Alternative Employment Arrangements. Monthly Labor Review, 119(10), 31.

Benefit Packages
What are some of the key issues facing businesses today in terms of continuing to offer a competitive benefits package?

Health care has emerged as one of the most important issues in contemporary American business in relation to competitive benefits packages. That is because under the current health care framework in the U.S., employer health care plans are the most common source of health insurance access (eid, 2009). Before the enactment of the Affordable Care Act (ACA), only businesses employing at least 50 employees were required by law to provide group health insurance to their employees. That meant that smaller companies often were at a competitive disadvantage in attracting the best talent because employees value health insurance so much. Since the enactment of the ACA, smaller companies will also be required to provide health insurance plans to avoid tax penalties for choosing not to do so (Pickert, 2012).

What are companies…...

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References

Halbert, T. And Ingulli, E. (2009). Law & Ethics in the Business Environment.

Cincinnati: West Legal Studies.

Miller, S. "Employers Weigh Health Care Strategies: A growing number do more to mitigate costs and improve employee health." Society for Human Resource

Management (March 18, 2010).

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. ecognize that several types of excellence motivate your employees to focus on additional areas of their performance" (Berkus, 2012). In this quote, Berkus, truly brings up an important point: some of the bonus methods of compensation are going to depend on the employee hired, as the most effective bonuses will be the ones that are unique to the employee. For instance, some people might just want bonuses in the form of free clothes and shoes. Other people would prefer strictly cash bonuses. There will be some exploration that…...

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References

Berkus, D. (2012, July 13). Six Ways to Drive Employee Performance and Motivation. Retrieved from ldrlb.co: http://ldrlb.co/2012/07/six-ways-to-drive-employee-performance-and-motivation/

bls.gov. (2012, May). May 2012 National Occupational Employment and Wage Estimates. Retrieved from Bls.gov:  http://www.bls.gov/oes/current/oes_nat.htm#13-0000 

Gordon, C. (2012, July 19). Simple Cafeteria Benefits Plans. Retrieved from bizfilings.com:  http://www.bizfilings.com/toolkit/news/office-hr/simple-cafeteria-plan-created-by-health-care-act.aspx 

Stewart, G., & Brown. (2012). Human Resource Management. New York: John Wiley and Sons.

According to statistics, it has been noted that the current workforce is growing more and more disloyal and dissatisfied. The companies that do not respond to the current trends will end up paying a high price later. This is because, with the improvement in the job market, these companies will end up losing key employees to their competitors, which leads to reduced employee productivity. Companies need to establish a well-designed employee compensation and benefits package in order to retain its top talent and attract others. There are numerous companies that desire to attract, retain, and motivate their employees in order to meet the company's strategic objectives. Currently, employees are considered to be part of the company's assets because they have to be effectively and efficiently managed. There are numerous instruments that companies can use to attract, retain, and motivate employees. Compensation and benefits are some of the tools that companies…...

Total ewards
H

A total rewards package contains many different elements that are meant to compensate employees, in some way, for the time they spend on the job. Companies are unable to follow a specific plan because different industries have different needs, but every company can use a total rewards system to make sure that they have the best employees and are able to keep them. However, there are issues with this system and solutions are just beginning to come to light.

Some, even in the total rewards community, continue to believe that compensation in the form of monetary rewards and simple benefits should be enough to satisfy employees and keep them engaged. Unfortunately, this is not true. A benefits package that includes such items as a comprehensive medical plan, some type of retirement, and other monetary rewards is not enough to make productive employees out of even the best workers. esearch has…...

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References

Carlton, L.G., Anderson, C.J., Johnson, M.A., Longton, B., & Lulli, L.S. (2011). Total rewards/compensation & business panel. Retrieved from   22153.aspxhttp://www.shrm.org/Communities/SHRMSpecialExpertisePanels/Pages/CMS_0 

Ghazzawi, I. (2011). Does age matter in job satisfaction? Journal of Organizational Culture, Communication and Conflict, 15(1), 25-42.

Ghazzawi, I. (2010). Gender role in job satisfaction: The case of U.S. information technology professionals. Journal of Organizational Culture, Communication and Conflict, 14(2), 1-21.

Heneman, R.L. (2007). Implementing total rewards strategies. Retrieved from  http://www.shrm.org/hrdisciplines/benefits/Documents/07RewardsStratReport.pdf

Compensation and Benefits Package for a Secretary
A pharmaceutical company has recently hired a new director for its human resource department as part of its initiatives to enhance productivity and organizational success. The company is also seeking to hire a new secretary for the H department and develop an employee compensation and benefits package for this position. This package will be utilized for the position of secretary for the H department once a suitable candidate is hired. Generally, pharmaceutical companies hire educated and highly talented individuals because of the nature of their operations, which requires high academic qualifications. In essence, the need for high academic qualifications for this industry is fueled by the fact that these professionals deal with patients whose needs are constantly evolving. The development of a suitable compensation and benefits package for a H secretary in this pharmaceutical company requires examining compensation and benefits packages in the pharmaceutical…...

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References

Bureau of Labor Statistics. (2014, January 8). Occupational Outlook Handbook -- Pharmacists. Retrieved from U.S. Department of Labor website:  http://www.bls.gov/ooh/healthcare/pharmacists.htm 

"Human Resources: Compensation, Benefits & Reward." (n.d.). All About Careers Ltd. Retrieved December 11, 2015, from  http://www.allaboutcareers.com/careers/career-path/human-resources-compensation-benefits-reward 

UCSF Human Resources. (n.d.). Chapter 11: Employee Development & Training. Retrieved University of California, San Francisco website: http://ucsfhr.ucsf.edu/index.php/pubs/hrguidearticle/chapter-11-employee-development-training/

Human Resources -- Controlling Benefits Costs: Employing Contingent orkers, HRM Outsourcing
Employers have found that health insurance benefit costs are best controlled while making them attractive to current and prospective employees by offering multiple options and by encouraging/implementing the use of generic drugs. This is wise, as compensation plans directly impact strategic goal setting and achievement. The Human Resources Department spends considerable resources aiding in this process, as it directly affects talent acquisition, employee retention, job satisfaction, employee productivity and strong employer-employee relations.

Discuss How A Business Can Better Control Its Health Insurance Benefit Costs hile Still Being Able To Use The Benefit Package As A Recruitment And Retention Tool. Give Practical Examples And Bring In Real-Life Business Examples (Including Employer Names).

A business can better control health insurance benefit costs while still being able to use the benefit package as a recruitment and retention tool by implementing a voluntary benefits package and…...

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Works Cited

Aluminum Company of America. (2014). Alcoa benefits: Prescription Drug: Overview. Retrieved February 2, 2014 from www.myalcoabenefits.com Web site:  http://www.myalcoabenefits.com/benefits/en/info_page/prescription_overview.asp 

Aluminum Company of America. (2014). Alcoa: Benefits: Medical: Overview. Retrieved February 2, 2014 from www.myalcoabenefits.com Web site:  http://www.myalcoabenefits.com/benefits/en/info_page/medical_overview.asp 

Anonymous. (2010, August). Controlling benefits costs, increasing productivity key employer concerns. Retrieved February 2, 2014 from search.proquest.com Web site:  http://search.proquest.com.ezproxy.trident.edu:2048/docview/744089057 

Anonymous. (2011, June). Controlling benefits costs. Retrieved February 2, 2014 from search.proquest.com Web site:  http://search.proquest.com.ezproxy.trident.edu:2048/docview/881277451

Toyota Company is the world's largest automobile manufacturing company in the world. Similar to what their vision states about being the most respected and successful car manufacturer in the world, the company has achieved that objective. With its headquarters in Japan, the Toyota Company has several branches around the globe. It is not surprising that the company employs hundreds of thousands of employees because of its huge size. The fact that the company employs such a high number of employees also means that it equally has a responsibility to take care of that many employees to guarantee high performance. One of the most important responsibilities of any organization is to fairly remunerate its staff, if they are to ensure better results. Once an organization creates employment opportunities, it then becomes its responsibility to make sure that all the talent and work put in is adequately compensated (McHugh & Nickels, 2008).…...

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References

Huitt, W. (2007). Maslow's hierarchy of needs. Educational Psychology Interactive. Valdosta, GA: Valdosta State University. Retrieved from,  http://www.edpsycinteractive.org/topics/regsys/maslow.html 

Kenrick, D. T., Neuberg, S. L., Griskevicius, V., Becker, D. V., & Schaller, M. (2010). Goal Driven Cognition and Functional Behavior. The Fundamental-Motives Framework. Current Directions in Psychological Science, 19(1), 63-67.

Business Dictionary. (2015). Retrieved from:  http://www.businessdictionary.com/definition/benefit.html 

Maslow, A. H. (1943). A Theory of Human Motivation. Psychological Review, 50(4), 370-96.

Employee Benefits
There are several issues with the current benefits plan, but first the overall benefits strategy needs to be addressed. There is ample literature to support taking a strategic HM approach, whereby the human resources management strategy closely aligns with the overall strategy of the company (Wright & Nishii, 2007). At present, there appears to be misalignment. HG Enterprises is a graphic design and photography service provider. The organizational chart indicates only two people who might be considered to be creatives, however, the design technicians. This firm is all senior management and clerical staff. How is this company even making money, when there is nobody to actually do the work they supposedly do? How are there three FTEs on the phone, not including the sales staff, and to whom are they talking? Why is a consultant being hired when there is already a VP of benefits on staff at $120K.…...

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References

Wright, P. & Nishii, L. (2007). Strategic HRM and organizational behavior: Integrating multiple levels of analysis. Digital Commons. Retrieved November 17, 2015 from  http://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1469&context=cahrswp

Topic Idea 1: The Impact of Employee Retention on Organizational Performance

Explore the positive correlation between employee retention and key business outcomes, such as productivity, profitability, and customer satisfaction.
Analyze how high turnover rates can lead to financial losses, operational inefficiencies, and reputation damage.
Discuss the importance of identifying and addressing the root causes of employee turnover to improve retention.

Topic Idea 2: Strategies for Enhancing Employee Retention in the Digital Age

Examine the challenges posed by the changing nature of work and technology in retaining employees.
Evaluate the effectiveness of strategies such as flexible work arrangements, remote work options, and....

1. Hourly Compensation: Starbucks baristas are paid an hourly wage that varies depending on location and experience. Starting wage typically ranges from $9 to $12 per hour.

2. Benefits Package: Starbucks offers a comprehensive benefits package to its employees, including health insurance, dental and vision coverage, 401(k) retirement savings plan, paid time off, and discounts on store products.

3. Stock Options: Starbucks offers eligible employees the opportunity to participate in its Bean Stock program, which grants them stock options in the company.

4. Bonus Incentives: Starbucks employees may be eligible for performance-based bonuses and incentives based on individual and store performance.

5. Tuition Reimbursement:....

Starbucks' Comprehensive Compensation Plan

Starbucks, a global coffeehouse chain, offers a comprehensive compensation plan to attract, motivate, and retain talented employees. The plan includes a combination of base salary, benefits, and performance-based incentives designed to reward performance and drive company success.

Base Salary

Base salary is the foundation of Starbucks' compensation plan. Employees are compensated based on their role, experience, location, and performance. Starbucks regularly conducts salary surveys to ensure that its base salaries are competitive within the industry and local market.

Benefits

Starbucks provides a generous benefits package that includes:

Medical, dental, and vision insurance
Paid time off including vacation, sick leave, and holidays
....

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