Essay on Employee Compensation and Benefits Package

Introduction

Apple Inc is a technological company. It has recruited Martin as a human resource management director. Martin has a responsibility of identifying, evaluating and recruiting Administrative Assistants in charge of advertisement departments and also to help in the creation of compensation and benefits package. It will be used for compensating the employee in that position after recruitment. It is necessary for Martin to elaborate the kind of the company in which the package is designed for and the compensation and benefits package for the position. Apple Inc is a technology company that designs and produce computer hardware and software.

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It was formed in 1977 and its sells other different software services, accessories and digital contents. The head of advertisement department, Martin, is ready launch other new products in the market and therefore there is a great need of administrative assistant to help in executing some advertisement functions. Although Appliance has been there for several years, it has established itself in the Global market. It can easily sell many of its computer devices with ease without an intense competition. Apple is also well known for a higher employee satisfaction as it believes that its employees are the greatest assets and ensure that they receive the best benefits and compensation as compared to other companies in the same industry. Apple Inc is therefore a very competitive employer which has diverse professionals from different fields including engineering and business.

It is essential for Martin to develop compensation and benefit for a new Administrative Assistant. In relation toBLS.gov, the median pays for an administrative assistant is $35,330 or $16.99 per hour. Apple Inc is privileged to attract and retain the best professionals from different fields and therefore it will pay Administrative assistant a basic salary of $61,000 because of the kind of academic qualification and the experience the company require. The company will appraise the selected Administrative assistant after every 90 days to ensure that there is a compensation increases based on work performance. Although the basic salary for Administrative assistants who are just started working is $51,000, for most companies Apple offers a slightly higher basic salary with $975. Martin will be responsible for making a decision on the benefit package.

According to Susan Hatchfield, HRM consultant asserts that health insurance is one of the employee benefit package that should be awarded to any employee. It is the most important employee benefit of most people working in any business organization. Furthermore, it is difficult to find a comprehensive employee benefits package without incorporation of paid time off from work. This is important in providing motivation to workers. In addition, the employees should also receive short term disability insurance to allow them receive part of their income if they are unable to perform their duties as a result of sicknesses or injuries. Long term care is also important because it protect workers from losing their salaries or income when sick or has involved in gross accidents. There are also other dental insurance plans that most workers are entitled to and it forms part of the employee benefits package but it cannot be complete when there is no vision insurance which has a minimal cost. All these benefits will form the basis for the package of Administrative Assistant.

All the insurances such as Vision and Dental will have a higher price than competitors for Apple by ensuring that they cover most of the premiums. It will also be necessary to include both short and long term insurance policies at the same cost with other companies. Apple Inc will also give 401(k)investment option to motivate workers invest in their pension plans with a 7% match to other investments. Furthermore, stock option with a higher dividend will also be provided to administrators and executives and all these are aimed at motivating the workers.

Conclusion

Finally, Administrative assistant will also be given a paid time off on a tired scale, starting with 4 weeks, followed by 2 day increases after every three years with at least 6 weeks. Holidays will be paid as usual. A 12 stress or sick days per year is also provided to ensure that workers are given the opportunity to treat themselves when sick or to recover from any illness.