Week 3 Team Assignment

Topics: Incentive, Employment compensation, Salary Pages: 10 (1495 words) Published: April 20, 2015
Compensation and Benefits Strategies Recommendations
Team A
MGT/521 Human Capital Management
February 5th, 2015
Dr. Andrea Diese

Landslide Limousines Compensation and Benefits Strategy Recommendation
This paper provides an analysis of a proposed benefits and compensation package for Landslide Limousines that is comparable to companies that are similar in size and scope in Austin, Texas. Team A proposes a compensation structure and position in the market, as well as a total compensation and benefits strategy for the company. Performance incentives and merit pay to recognize and engage employees is also discussed in this paper. Laws related to the benefits and pay program are outlined and examined in detail. Market Evaluation.

Companies who are comparable to Landslide Limousines in Austin, Texas offer health benefits that cover 80 percent of employee’s premiums for individual policies and 65 percent for family policies. The cost for benefits packages include health insurance, and a retirement plan that includes health savings accounts that allow employees to deposit pretax dollars to cover health care cost not covered by high-deductable plans as long as 75 percent of employees participate in the plan (Texas Department of Insurance, 2015). Local companies similar in size and scale also offer a defined contribution plan, which allow employees to invest their money as they choose. Compensation Structure and Marketing Position.

Landslide Limousines is required to have a structured plan of action by registering the company with the Travis Counties Clerk’s Office as a sole proprietorship or with the Texas Secretary of State Office forming a limited liability company, partnership or corporation. Also, to apply for an EIN for Internal Revenue for the use of business documents of Landslide Limousines. Mr. Stonefield and his legal team must visit the Austin Transportation Ordinance and download all legal documents from the online web to apply for Chauffeurs Permit applications. The Human Resources Department must verify criminal background and driver’s records for the employees if they have been a resident for at least 3 years. The background information will be solicited by the Texas Department of Public Safety. Bradley Stonefield and the HR team of Landslide Limousines will have to ensure that they are meeting the legal requirements of the Texas State Laws to ensure qualified chauffeurs are hired in order to compete with comparable limousine services in the immediate area. Launching a business in Texas has a few advantages which include tax benefits, name protection, personal protection, flexible profits, no record keeping requirements, if the Mr. Stonefield chooses to register his business as an LLC. Compensation Plan:

Employee Classification
Drivers – 25
(1) Limousine Vehicle Expenses
(2) Travel Expenses
(3) Limousine Repair Expenses
(4) Events Expenses
(5) Professional Development
(6) Medical Insurance
(7) Life Insurance
(8) Disability Insurance
(9) Retirement Plan Contribution
(10) Chauffeur Salary
(11) Hotel Allowance for travel (outside of Texas)
(12) Salary Increase
The plan must include the following outline in the Landslide Limousines policies of: Vacation
Sick and sabbatical leave
Speaking engagements
Hiring requirements
Employee classifications
Work hours and pay periods
Business use of cell phone, laptops and computers
The compensation structure plan will also layout the measures for all employee who drive for Landslide Limousines (a) Objectives
(b) Compensation
(c) Performance measures
(d) Competitive reference points
(e) Internal equity
(f) Communication of the chauffeur’s
(g) Governance
The compensation plan of Landslide Limousine is a tool that will benefit the internal and external team of the company to ensure that the drivers are satisfied with the best business practice of the company. The compensation plan will also require that Mr. Stonefield and his legal...

References: Small Employer Health Insurance. (2012) Retrieved from http://www.tdi.texas.gov/pubs/consumer/cb040.html
Cascio, W.F. (2013). Managing Human Resources: Productivity, Quality of Work Life, Profits (9th ed.) Boston, MA: McGraw-Hill/Irwin
Guettler, Amy. (2015). Demand Media: The Advantages of Merit Pay.
Retrieved from: http://smallbusiness.chron.com/advantages-merit-pay-24332.html
Law for Change. (2015). Texas Compensation and Benefits.
Retrieved from: http://www.lawforchange.org/NewsBot.asp
Lotich, P. (2015). 7 Things to Consider When Developing a Compensation Strategy. Retrieved from http://thethrivingsmallbusiness.com/compensation-strategy-7-things-to-consider-when-developing-a-compensation-strategy/
Strategic Plan for Employee Compensation and Benefits. (2015). Retrieved from http://smallbusiness.chron.com/strategic-plan-employee-compensation-benefits-15613.html
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Week 3 Team Assignment Essay
  • Week 3 Team Contract Essay
  • ISCOM 473 Week 3 Learning Team Assignment Essay
  • Week 3 Team Assignment Essay
  • Week 3 Team Paper
  • Essay about Week 3 BUGusa Assignment Team B
  • team assignment week 4 Essay
  • Essay about Leraning Team Week 3

Become a StudyMode Member

Sign Up - It's Free