Compensation program
A compensation program encompasses m
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A compensation program encompasses more than just a pay schedule. Compensation includes job design components and complete benefits, such as insurance and vacation, and may provide companies with a strong competitive tool in the marketplace. No compensation program is developed in a vacuum; it must take into account the unique human resource needs of the organization, the environment in which the company operates, and relevant local, state and federal legislation. While compensation programs should be reviewed on a regular basis, they should also be developed in such a way that major revisions are required only occasionally. This research suggests a compensation program for a small but rapidly growing computer software company.XXX Corporation is a computer software development company that sells and services Computer Assisted Engineering (CAE) and Computer Assisted Design (CAD) software. The company sells and services, under licensing agreements, an established package in an exclusive territory (primarily Texas). Clients that relocate or have offices in other regions can also be serviced by XXX. The proprietary software is installed on the customers' microcomputers, or may be sold as part of a total hardware and software configuration. In this way, XXX is a combination software market and a broker of existing hardware components ù a value added reseller (VAR). In addition, XXX develops and markets their own upgrades to the
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place, and two, it believes that employees should have at least minimum health coverage provided without having to fund it through their wages. If employees were forced to pay for their own health coverage, the competitive benefit of paying higher wages would be lost, since most companies in the industry offer paid insurance.
The medical plan that XXX has settled on is a preferred provider program. Under this type of insurance, employees are able to select physicians from a list of participating doctors, and they may switch doctors without filing additional paperwork. This program is not as inexpensive as a health maintenance organization (HMO), but the managers of the opinion that it offers better options for their employees at reasonable costs. The company considered offering a program where employees could choose their own physician without restriction, but found that the cost associated with such a program was prohibitive.
The company pays the premium for all full-time employees who have worked for the company for at least 60 days. Part-time may purchase the coverage separately. Full-time employees may pay to have their dependents covered on their policy.
In addition to health insurance, the company also maintains a $
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Approximate Word count = 3574
Approximate Pages = 14 (250 words per page)
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A compensation program encompasses m
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