Employee compensation and benefits
As the director of the human resource management department, there are a lot of duties under this department that involves ensuing there is constant sufficient human labor, which is capable of realizing the organizational objective. Having been hired by a new company, Delmonte limited, a food processing company as the head or director of human resource department, I have numerous duties or functions to undertake one being creating prime positions that can ensure sufficient growth of the new organization. The organization is a modern company that falls under the food and beverage industry. It has its headquarters in Chicago with seven other branches in some of the minor towns. Apart from revising all the positions within the company, employee motivation is also a critical factor that must be put into consideration, and it can only be done by ensuring there are appropriate compensation and benefit for the entire organizational body.
Having been instructed to hire a secretary for the department, Human Resource department anew, I have to look for a well-qualified candidate to fill in the position. Since the company is a food processing organization, it needs well-qualified individuals with the ability to achieve the organizational set objectives. To ensure the new human resource secretary is motivated towards his or her duties, there is to be a well-established or designed compensation and benefits for the occupant of the position. Below is a list of benefits and bonuses which are designed for the new position.
- Base salary
The new secretary is to be entitled to a base salary of $35,200. Base salary is a monthly payment to an individual for the work done, and it does not include any form of benefit. The amount set as the base pay has been determined after undertaking an internal evaluation that provides for carrying out an analysis of the organizational salary scale. Additionally, the amount is reached based on the job description (Adkins, Martin, and Sanchez, 2018).
- Health Benefits
The new secretary is to be entitled to a health cover, which must also cover the spouse and children. The organization, Delmonte, is to pay a sizeable portion of the total monthly premium, approximately two-third, thereby leaving the remaining third to be deducted from his or her monthly salary (Frandsen, 2016). This benefit is significant to the employee since it will assist him or her in financial situations in which he or she will not have to spend cash on personal or illness of any of the family members
- Allowances
The new secretary is also to be entitled to specific benefits which are tax-free. Some of the benefits the organization allocates him are the house rent allowance, which caters to living accommodation, transport allowance, which is paying into the employees’ account to facilitate his or her movement from the house to the place of work. Lastly, being that the organizational head office is situated in one of the big cities, the employee will then be provided with the compensatory city allowance to assist him manages the high living standard in the city. It is to be 30% of his basic pay.
- Performance Base Pay/ Incentives
To motivate him or her towards her role within the organization, the secretary is to be entitled to a performance base pay, which is meant to encourage him to work harder or better. This payment is based on his or her level of performance in relation to the set objectives or target of the position (Galanaki, 2019).
- Equity Pay
For additional motivation that will also make the secretary feel like part of the company, he is to be awarded Equity Pay in which they are allocated some shares of the company at a discount. Just like other senior organizational employees, the secretary will be able to benefit from the shares by the appreciation of the stock price and the growth of the company.