Design a compensation package, incentive plan and benefits for a new engineer
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Individual Project
James Richards has an electrical engineering degree from a United States' accredited university. Upon graduation he was offered, and he accepted, an entry-level engineering position at a firm in San Antonio, Texas. He has been gainfully employed with this firm for the last five years. Recently he interviewed with your firm which is located in Chicago, Illinois. You, working for the human resources department, want to employ James. Working in conjunction with your supervisor you are drafting three items; (1) a compensation package, (2) an incentive plan, and (3) a benefits plan in order to successfully employ James Richards with your organization.
Using the internet and cybrary, locate all necessary information for constructing these three packages. This will include designing plans that are specific to James and this situation, including the pay rate that will be offered, and the specific benefit and incentive plans this offer will include. Along with these packages you will include a one page cover letter that outlines what you propose to offer, and explains why your plans are appropriate for the position you are offering James. Your detailed plans will then follow that cover page.
This is a research assignment so be sure to include and cite your research in the paper.
Discussion Board
Students should conduct a debate on the discussion board to address the topic of the assignment. This is done via an initial posting with your thoughts, and then responses to other students on their posts.
Most job candidates are concerned with baseline pay. Incentives and benefits do very little to persuade a candidate to accept an organization's employment offer if baseline compensation is slightly below the candidate's expectations.
Following the discussion, post a follow up paragraph DB response indicating which side of the issue was most persuasive to you and why.
Please provide websites
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Solution Summary
The solution consists of a business letter to the prospective employee in which all three of the parts of the hiring package are detailed.
Solution Preview
Dear Mr. James Richard:
We are pleased to offer you the position of Electrical Engineer with our firm.
The compensation package to you is as follows. You will get a base annual salary of $65,000. In addition, you will get a relocation allowance of $15,000. The other benefits in accordance to the rules of the company include.
? Annual Leave 21 days
? Medical Leave 4 days
? Hospitalization Leave 12 days
? Maternity Leave 90 days
? Marriage Leave 27 days
? Paternity Leave 7 days
? Child Sick Leave 2 days
? Compassionate Leave 4 days
? Time-off to sit for Exam 7 days
? Maternity Expenses: actual expenses according to the insurance rules.
? Marriage Gift $650
? Newborn Gift $750
? Medical Check-up Subsidy: according to the insurance rules
? Health Screening Subsidy: on actual expenses, according to the insurance ...
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