HR Project Plan 33 If the company continues to not make a profit this could be

Hr project plan 33 if the company continues to not

This preview shows page 33 - 35 out of 60 pages.

HR Project Plan 33 If the company continues to not make a profit this could be seen as a disadvantage of never getting anything as an employee. Alternative pay methods have be thought through by leadership members of Motors and More, Inc. given that there is an amount of financial burden that a lot of these can take on the P&L. While some of these are necessary in keeping compettive in the marketplace Motors and More Inc might not be able to afford all of them as they satrt out. But they can add as they gain more marketshare and sales with their prospector strategy goals. They can also share this with the current employee base of their plans to increase pay methods in future years (a long range plan) so employees have incentive to increase sales and become more productive in the meantime. Benefits Offered Motors and More, Inc. will have to come up with a more competitive benefits package then they currently have in order to keep current employees, lower turnover, and attract new employees. “Significant changes have occurred in employees’ attitudes, corporate philosophies, and business necessities since the inception of most benefits programs in the 1950s” (Ivancevich and Konopaske, 2013, p.359). The company conducting pay and benefit surveys has realized that by offering better benefits they will increase employee satisfaction, performance, and productivity, while following their prospector strategy. The Human Resources director and team will be sure to oversee all compensation and benefits with the outside company to ensure its meeting best standards. “Employers with 50 or more employees must provide up to 12 weeks of unpaid leave to eligible employees during any 12-month period” (Ivancevich and Konopaske, 2013, p.369). Carefully designing a package with the third-party vendor will be imperative to Motors and More Inc success in the future and to fulfill their vision. They will also need to keep watch on their financial situation and add benefits as and when they can afford to, by also
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HR Project Plan 34 sharing the long-term strategy with the employee base and offering knowledge and informational sessions about what is to come and what the current offerings are. In addition to the statutory and mandatory benefits listed below Motors and More, Inc. will offer some voluntary benefits as well. This will include longer vacation time, longer maternity/paternity leave, personal time off, and flexible work arrangements. By offering such items they will attract higher levels of talent as well as keep the current employee base happier with offerings. Flexible work arrangements may be, but are not limited to, job sharing, work from home (if feasible), and telecommuting. Here is a list of benefits that the employees will receive: Benefit What Employees Receive Cost Medical Offered through our preferred carrier. Wide range of choices including comprehensive plans.
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