We've discussed Total Rewards approach to attracting and retaining employees. Assume that you are an External Consultant and were hired to evaluate a small business start-up (or business of interest to you) on how they should structure their Total Rewards program. Based on what you have learned about legally required vs. strategic (voluntary) rewards and provide an initial proposal for what this organization needs to do to be compliant with the law and reasonably attract workers.You must identify the jobs/nature of the work for which you are hiring and seeking to base compensation decisions upon. You must state whether they would be low vs. highly skilled workers and define the work to be performed in preparing your proposal . In your response, you should be able to provide an overall plan with recommendations (e.g., You don't have to state what the wages would be but you should be able to recommend to an employer how they could determine it - minimum wage, premium above minimum wage, commission-based, etc.). Remember that employer costs exceed more than just base salary. You do not need to use a chart like the one below and I have provided only so that you see that employer costs are more than just base salary. With the knowledge of these higher costs, it may influence what you choose to offer for a base salary/wages.
We've discussed Total Rewards approach to attracting and retaining employees. Assume that you are an External Consultant and were hired to evaluate a small business start-up (or business of interest to you) on how they should structure their Total Rewards program. Based on what you have learned about legally required vs. strategic (voluntary) rewards and provide an initial proposal for what this organization needs to do to be compliant with the law and reasonably attract workers.You must identify the jobs/nature of the work for which you are hiring and seeking to base compensation decisions upon. You must state whether they would be low vs. highly skilled workers and define the work to be performed in preparing your proposal . In your response, you should be able to provide an overall plan with recommendations (e.g., You don't have to state what the wages would be but you should be able to recommend to an employer how they could determine it - minimum wage, premium above minimum wage, commission-based, etc.).
Remember that employer costs exceed more than just base salary. You do not need to use a chart like the one below and I have provided only so that you see that employer costs are more than just base salary. With the knowledge of these higher costs, it may influence what you choose to offer for a base salary/wages.
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