¶ … employee benefits and compensation package for the post of a secretary for Guardian, hired by the firm's Human Resources 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 (HRM) 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 crucial to employers as well as employees. Employees naturally depend on salaries, wages, etc. To obtain a large portion of their income, as well as on benefits for obtaining health and income security (Gerhart et al., 1995). Compensation decisions for employers impact costs of carrying out business, and consequently, their ability of selling in the market at a competitive rate. Moreover, compensation decisions impact the ability of employers to vie for workers in labor markets (attracting and retaining personnel), and their behaviors and attitudes while working for the employer.
Information about Guardian
A family-owned firm, Guardian began operation just about a year back. This company is specialized in engineering and construction, defense and staffing- assisting governments and leading organizations in making our planet a better place (Writer Thoughts). The company currently works on and looks at means to maintain the country's power infrastructure, protect American freedom, and drive technological advancements all through the world. Our assurance of persistent reliability is behind all projects- we do as we say, such that our customers are capable of doing their best work in a better way.
Secretary Position
Salary: $70, 950
Hourly Wage: $34.11
This post will be considered non-exempt, meaning that the secretary will receive overtime. The work hours are as follows: 40 hours/week for five days in a week (Mon to Fri) (Writer Thoughts). For any hours clocked in above the regular 40 hours, overtime pay will definitely be given. In case of overtime hours, hourly wage will be $51.165 per hour.
Employee Compensation and Benefits Package
An all-inclusive benefits package is available for employees; this encompasses retirement benefits and healthcare opportunities, in addition to professional development access and education reimbursement (Compensation and Benefits). Benefits that regular part-time and full-time workforce can avail themselves of are outlined below. Thus, the following will be available to the secretary:
Health and Welfare Benefits- A range of health plans are provided to personnel and dependents by Guardian; benefits are also available to domestic partners. Enrollment in a medical plan automatically incorporates vision and prescription benefits for eye checkups, and reimbursement for contact lenses or glasses (Compensation and Benefits). Coverage of competitive dental healthcare plan is available. Numerous tax-advantaged spending accounts and savings plans accorded by our firm enable employees to lessen taxable income. The following plans are included:
Health Care Flexible Spending Accounts (FSAs). Eligibility for dental, vision and medical expenses, which allows for saving up to $3,000 annually.
Dependent Care Flexible Spending Accounts (FSAs). Eligibility for elder care and childcare expenses, which allows for saving up to $5,000 annually.
Commuter Reimbursement Accounts. These enable savings on parking expenses and mass transit, up to maximum Internal Revenue Service (IRS) limits.
Health Savings Accounts. Staff members enrolled in any High Deductible Health Plan, can avail themselves of this. It allows them to profit from lower premiums on healthcare, while at the same time, save to cover present or future healthcare expenditures, up to maximum IRS limits.
Peace of mind and income protection is offered to our personnel as well as their families, via a variety of voluntary and company-paid disability and life insurance schemes, which include accident insurance, disability benefits for long-term, and supplemental and basic life insurance (Compensation and Benefits).
Retirement Benefits- Our Company is aware of how crucial financial security building is for retirement days, and thus, 401(k) savings scheme has been devised to facilitate personnel to meet their financial targets (Compensation and Benefits).
This 401(k) scheme grants employees a chance for saving for future times; a broad range of investment opportunities are offered (Compensation and Benefits). The firm will match 100% of the initial 2% of employees' inputs and 45% of the following 6% of their inputs. Following 5 years of working for Guardian, employees are...
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