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Hi, need to submit a 1000 words essay on the topic Benefits & Compensations Task 2.The standard pay for a software developers, programmer and engineers is $71k per annum. In order to be on the safe si
Hi, need to submit a 1000 words essay on the topic Benefits & Compensations Task 2.
The standard pay for a software developers, programmer and engineers is $71k per annum. In order to be on the safe side and retain the employees the company should give a compensation of $ 71 K per annum to the software experts. Te sales representative should have a fixed salary of $ 51 K per annum. In the company the lowest earning employee should earn at least $ 29 K per annum. The lowest paid employee should be the administrative manager in charge of company’s records and processing of orders placed by the customers. The marketing specialist should pocket at least $ 51 k per annum. For motivation purposes, the sales representative should be given commission of the sales they make in addition of the total salary they take home. In addition to the salary, workers should be given a part time bonus in order to motivate workers to work more hours. The bonuses should be range from $ 200 to $ 400 per hour depending on the profession. The bonuses will serve as a motivation factor in which employees will be ready to work even old hours of the day. Some companies do not provide part time bonuses and if YLSS gives out the bonuses the employees will not be willing to leave the organization. Each employee in the company should also enjoy other benefits like health insurance, PTO and life insurance. The company should pay the insurance for the employee (PayScale, 2015).
The pay-policy is aimed at making sure that the employees are satisfied and remain focused to YLSS. The benefits and salary given to the employee will enable the workers to be motivated and provide services for many years. The insurance cover will serve as a security to make sure that employees can be treated when they get sick and return back to work. The salary proposed is the highest in the market and employees will not be tempted to find job in other companies. YLSS should have more benefits than the competitors as listed in the recommendation above in
