Compensation and Benefits Essay

1851 WordsJun 10, 20148 Pages
Compensation and Benefits Recommendations HRM 531 No matter the size of the business, there is a need to evaluate an individual business’ compensations and Benefits. Each business will be unique; rarely will two businesses have the same benefits. These benefits will show employees, and future employees, what it is worth to work for the company. In this recommendation, it will outline various parts of the compensation and identify the pay act that this package will follow. Market Evaluation Creating attractive compensation package is a difficult task when entering new markets. After reviewing the benefits and compensation for Turner Construction Company, Ames Construction, Inc., and DPR Construction which are located in Arizona, the companies have these benefits in common: Medical, Dental, Retirement/Pension/401K plan. Turner Construction Company does offer more such as vision insurance, health club reimbursement, life insurance, accidental death and dismemberment, short term disability, long term disability, tuition reimbursement program, and professional certifications and licenses (Turner Construction, 2014). The compensation package offered by DPR Construction includes additional benefits like vision insurance, adoption assistance, personal time off, holidays & holiday shutdown, Flexible Spending Accounts, and Critical Illness Insurance. DPR construction has noted that employees must be non-union and full time employees to receive the full benefits package, but part time employees are eligible for medical, dental, and vision coverage (DPR Construction, 2014). The compensation package offered by Ames Construction, Inc. does not include extra benefits that Turner Construction and DPR Construction offer (Ames Construction, Inc., 2014). With the information provided, an attractive compensation and benefit package that is tailored to the area can be

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