Strategy Reccommendation Essay Example
Arnice Mercer
HRM/531
August 26, 2013
Mr. Jack Frost
Strategy Recommendations Introduction A business owner should be the key to its company growth and success by acknowledging the value of its company and employees. It should not matter where a business owner lives or work. The diversified business workforce is competitive within the marketplace, provide protection for the employees, reinforce pay through awards and incentives strategies and ensure that total retirement benefits support workforce objectives. Typical Total Compensation Benefits include things such as child daycare, health, dental, vision insurance, performance bonuses, vacation and, sick days, and retirement plans. Some of the benefits will add a cost to the business and a value to the staff member. Employees may not see some of the benefits on their paycheck. The total compensation in reference to these benefits may include savings in time, money, and hassle. Market Evaluation Top rated Limousine Companies in Austin; TX includes Limos of Austin, Austin Classic Limo, Austin Luxury Limousine, and Royal Executive Transportation are just a few of the Limousine services offered in Austin, TX. However, Landslide Limousine Company is a new company that need to research and assess the surrounding market value and analyze the competitor’s corporations in the surrounding areas. Recommend a Compensation Structure
To recommend a compensation structure for The Landslide Limousine Company the first step is to decide what type of structure will work best. There are two types of pay structures known as marketing pricing and internal equity methods. The company will review both structures and determine which compensation is most suitable for the company. The marketing pricing is consisting of each job title linked to the current market rate. The internal equity method is a firm constructed network and makes
HRM/531
August 26, 2013
Mr. Jack Frost
Strategy Recommendations Introduction A business owner should be the key to its company growth and success by acknowledging the value of its company and employees. It should not matter where a business owner lives or work. The diversified business workforce is competitive within the marketplace, provide protection for the employees, reinforce pay through awards and incentives strategies and ensure that total retirement benefits support workforce objectives. Typical Total Compensation Benefits include things such as child daycare, health, dental, vision insurance, performance bonuses, vacation and, sick days, and retirement plans. Some of the benefits will add a cost to the business and a value to the staff member. Employees may not see some of the benefits on their paycheck. The total compensation in reference to these benefits may include savings in time, money, and hassle. Market Evaluation Top rated Limousine Companies in Austin; TX includes Limos of Austin, Austin Classic Limo, Austin Luxury Limousine, and Royal Executive Transportation are just a few of the Limousine services offered in Austin, TX. However, Landslide Limousine Company is a new company that need to research and assess the surrounding market value and analyze the competitor’s corporations in the surrounding areas. Recommend a Compensation Structure
To recommend a compensation structure for The Landslide Limousine Company the first step is to decide what type of structure will work best. There are two types of pay structures known as marketing pricing and internal equity methods. The company will review both structures and determine which compensation is most suitable for the company. The marketing pricing is consisting of each job title linked to the current market rate. The internal equity method is a firm constructed network and makes