Answer (c) only. Scenario #2: Compensation and Benefits AdministrationYou just finished analysing information for the current compensation and benefits program information. You find thatsome changes should be made, as the majority of employees (you have 120 employees) are unhappy with what isbeing offered. In fact, the plan had not been revised in over fifteen years, making it dated and definitely ready forsome changes.One of the major points of contention is the Paid Time Off (PTO) the organisation offers. Employees feel the currentsystem of sick time and vacation time offers too few options. For example, one employee says, "I often come to worksick, so I can still have my vacation time for my vacation." Another employee says, "I have given nine years to thisorganisation, but I receive only three days more than someone who has just started."Here is the current PTO offering:1+ year5+years10+ years7 days10 days14 days.Adapted from: University of Minnesota Libraries Publishing (2016)Question 2 Instructions:This assignment should be submitted as an essay and include the following:a. Definition of compensation package.b. What four cost considerations would you take into account when revising the PTO section of yourcompensation plan?C.What four other considerations you would you take into account when developing a new PTO plan?d. Propose a new plan to the board of directors. The plan should be in the form of a table (spreadsheet),including PTO and other employee benefits.

Paid time off is an employee benefits policy where the company pays an employee when that person is…

Answered: C. What four other considerations you…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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C. What four other considerations you would you take into account when developing a new PTO plan?