Strategic Compensation Analysis Assignment

You are a small business owner in the Digital Printing industry. You have been awarded a grant that will allow you to recruit and hire three employees (Administrative Assistant, Production Control Specialist, and Office Manager).

1. Discuss three (3) strategies that will be used to make your benefits package attractive and competitive without financially jeopardizing the success of the organization?

2. Explain how you will acquire the best deals on insurance.

3. List the four sources of insurance that the organization will offer.

4. List three (3) perks that will be offered. There is no additional funding for the perks but they will have to be appealing to the new employees.

5. List two (2) stock options the organization will offer and briefly explain why they were chosen.

6. Set salaries for the three (3) positions and the strategies that were used to set the salaries.

7. List the benefits that will be offered to the employees that are tax deductible.

One of the strategies that will be used to make the benefits package attractive and competitive is allow regular telecommuting. This will enable employees to have more flexibility with regard to performing tasks that they do not need to be in the office to perform. The second strategy I would use is to adopt a compressed workweek. This will give employees extra time to pursue other personal interests on their own. The third strategy I would use is to offer employees paid vacation time. This is cost-effective as the business will only incur the wages paid to the employee during a normal work week, and no other additional costs....

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