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MGT262-0803B-02 Compensation and Benefits
Details: Discuss the possible impact of StopNShopNow, Inc. stores being located solely in one of the following three locations with the indicated employee demographics.

Location:

New York City, NY
average employee age: 30 years old
male/female ratio: 50:50
Suburbia, MO
average employee age: 40 years old
male/female ratio: 20:80
Deep Caverns, TX
average employee age: 50 years old
male/female ratio: 70:30

Propose at least three modifications or enhancements to specific benefits (or options of benefits) in a benefits package that will best satisfy the company's and employees' needs and expectations. You may also address modifying the percentage of total compensation paid in the form of benefits.

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Solution Summary

The response address the queries posted in 684 words with references.

Solution Preview

The response address the queries posted in 684 words with references.

// StopnShop is a concept where, a store would be opened only at a location, which is most comfortable for the employees. New York City holds much younger and equal number of males and female employees as compared to the other two cities. Herein, the employees are less experienced; but have fresh and innovative ideas, so retention of such employees becomes equally important by increasing the benefit packages to 15% to 20% of the total compensation. //

Compensation and Benefits

If the store will be located in the New York City, the benefits package will have to be modified according to the needs of the employees. This will have a significant impact on the benefits package provided to the employees in that city. The average age of employees in this city is 30 years and male female ratio is 50:50. The employees are relatively young as compared to the other two cities.

Thus, they hold less experience and their benefits package has to be modified accordingly. But, they have fresh and innovative ideas ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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