Compensation And Benefits Strategies Recommendations
Benefits and Compensation Strategies Recommendations
TEAM B: Ben F. Soares, Thomas Manning, Zoua Yang, Ziad Shamma
HRM 531 David John Stocker
Benefits and Compensation Strategies Recommendations
Introduction:
Market Evaluation:
When constructing a benefits and compensation strategy, it is important to understand what companies in comparable markets are providing to their employees. For our company, Clayton Commercial Construction, who wants to open up operations in Arizona, it means looking at what other construction companies in and around the state of Arizona are providing as compensation and benefits. Clayton currently employees 650 people in the state of Michigan and is looking to add 130 people (20% increase in headcount) in Arizona.
Three comparable construction companies in the state of Arizona are Sundt, Inc., Granite Construction, and Mortenson Construction. All of these companies can be considered mid-sized companies, in the same state and industry as Clayton Construction, so a fair comparison can be made.
Sundt, Inc. offers competitive wages, as well as heath care, vision care, and prescription coverage through a PPO network. Other benefits include disability insurance, life insurance and accidental death, and an Employment Assistance Program, which offers confidential counseling and referral service to all employees and their dependents. Additional benefits include a paid time-off (PTO) program and an employment discount program that includes discounts on computer purchases, cell phone purchases, and banking services. Employees can also benefit from participating in a voluntary benefits program that includes dental insurance, auto and home insurance, and pet insurance. Some of these benefits have a waiting period prior to eligibility, and there is also a 20-hour a week minimum requirement to be eligible for most benefits
(www.sundt.com, 2013).
Another comparable company is Granite Construction. Like Sundt, Inc., Granite Construction offers
TEAM B: Ben F. Soares, Thomas Manning, Zoua Yang, Ziad Shamma
HRM 531 David John Stocker
Benefits and Compensation Strategies Recommendations
Introduction:
Market Evaluation:
When constructing a benefits and compensation strategy, it is important to understand what companies in comparable markets are providing to their employees. For our company, Clayton Commercial Construction, who wants to open up operations in Arizona, it means looking at what other construction companies in and around the state of Arizona are providing as compensation and benefits. Clayton currently employees 650 people in the state of Michigan and is looking to add 130 people (20% increase in headcount) in Arizona.
Three comparable construction companies in the state of Arizona are Sundt, Inc., Granite Construction, and Mortenson Construction. All of these companies can be considered mid-sized companies, in the same state and industry as Clayton Construction, so a fair comparison can be made.
Sundt, Inc. offers competitive wages, as well as heath care, vision care, and prescription coverage through a PPO network. Other benefits include disability insurance, life insurance and accidental death, and an Employment Assistance Program, which offers confidential counseling and referral service to all employees and their dependents. Additional benefits include a paid time-off (PTO) program and an employment discount program that includes discounts on computer purchases, cell phone purchases, and banking services. Employees can also benefit from participating in a voluntary benefits program that includes dental insurance, auto and home insurance, and pet insurance. Some of these benefits have a waiting period prior to eligibility, and there is also a 20-hour a week minimum requirement to be eligible for most benefits
(www.sundt.com, 2013).
Another comparable company is Granite Construction. Like Sundt, Inc., Granite Construction offers
References: Hausser, D., & Lebing, K. (1996, April). U.S. Office of Personnel Management. Retrieved from http://www.opm.gov/policy-data-oversight/performance-management/reference-materials/more-topics/alternative_pay.pdf www.graniteconstruction.com. (2013). Retrieved from http://www.graniteconstruction.com/Careers/Benefits www.indeed.com