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HRM: Competitive Employment Offer for Shannon Albright

Shannon Albright has an accounting degree from a United States accredited university. She also became certified as a CPA (Certified Public Accountant). Upon graduation she was offered, and accepted, an entry-level accounting position at a firm in Atlanta, Georgia. She has been gainfully employed with this firm for the last five years. Recently she interviewed with your firm which is located in Boston, MA. You, working for the human resources department, want to hire Shannon for your organization's Financial Accountant position.

You know Shannon is a strong candidate and you want to develop a competitive offer that will attract Shannon yet still fit within the company's budget and compensation structure (i.e. considering both internal and external equity).

With this in mind, you are asked to prepare the offer for Shannon. The following will be included in this package and should be specific to Shannon and this situation:

1. Compensation package - what pay rate will you offer (using salary survey research as support). What else may be included in the compensation package?
2. Incentive plan - what performance based incentives does this offer include?
3. Benefits plan - what specific benefit plans does this offer include?

It is important to provide the necessary supporting details to explain the incentives and benefits being offered. The more detail you provide, the better educated Shannon will be to make her decision to accept.

Along with these packages you will include a one page cover letter addressed to your supervisor that outlines what you propose to offer. This cover letter should explain and justify the compensation package, incentive plan, and benefits plan. Your detailed plans will then follow that cover page.

Solution Preview

1. Compensation package - what pay rate will you offer (using salary survey research as support). What else may be included in the compensation package?

The current national average salary is $62,000. The salary offered to Shannon Albright will be $68,000. The higher salary has been suggested to make the offer from our firm attractive to Shannon Albright. The other components of the compensation package will be health insurance according to the policy of the firm, life and disability insurance, the standard, 401(k) plan that the firm is offering other employees, 21 yearly holidays, and the use of firm cars according to the rules of the firm.

2. Incentive plan - what performance based incentives does this offer include?

Shannon Albright will be offered employee bonus based on her annual performance evaluation. The bonus will equal 20% of her salary if her performance gets a rating of 4/5 and above.

3. Benefits plan - what specific benefit plans does this offer include?

Shannon Albright will be offered a comprehensive healthcare package that our firm offers its employees. ...

Solution Summary

This solution gives you a detailed discussion on an employment offer for Shannon Albright, developed keeping in mind the qualifications and the suitability of Shannon Albright for the position of financial accountant. This solution is 296 words and seven references are provided.

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