compensation
Shannon Albright has an accounting degree from a U.S. accredited university. She also became certified as a CPA (certified public accountant). Upon graduation, she was offered and accepted an entry-level accounting position at a firm in Atlanta, GA. She has been gainfully employed with this firm for the last5 years. Recently she interviewed with your firm, which is located in Boston, MA. You, working for the human resources department, want to hire Shannon for your organization’s financial accountant position.
You know Shannon is a strong candidate, and you want to develop a competitive offer that will attract Shannon yet still fit within the company’s budget and compensation structure (i.e., considering both internal and external equity).
With this in mind, you are asked to prepare the offer for Shannon. The following will be included in this package and should be specific to Shannon and this situation:
Compensation package: What pay rate will you offer (using salary survey research as support)? What else may be included in the compensation package?
Incentive plan: What performance-based incentives does this offer include?
Benefits plan: What specific benefit plans does this offer include?
It is important to provide the necessary supporting details to explain the incentives and benefits being offered. The more details you provide, the better educated Shannon will be to make her decision to accept.
Along with these packages, you will include a1-page cover letter addressed to your supervisor that outlines what you propose to offer.
This cover letter should explain and justify the compensation package, incentive plan, and benefits plan.
Make sure todiscuss joblocation and experience level
Your detailed plans will then follow that cover page.
RUNNING HEAD: UNIT 4 IP Title
Unit 4 IP
Dont forget that your submissions should be at least 4 pages in length and APA formatted. All instructional notes have been highlighted in yellow and should be deleted prior to submission.
Cover Letter
SENDER’S ADDRESS
DATE
RECIPIENT ADDRESS
SALUTATION
BODY OF THE LETTER
This letter should be 1 page in length
It should be addressed to your supervisor
It should outline what you propose to offer (Hint: The offer are the major aspects of the compensation package, incentive plan, and benefits plan.)
It should explain and justify the compensation package, incentive plan, and benefits plan. This means that you are outlining the plan and also explaining how you arrived at the decision.
CLOSING,
SENDERS NAME
Compensation Package
This portion of the submission will include the pay rate will you offer (using salary survey research as support). Include any additional relevant information that is provided in a compensation package.
Incentive Package
For this portion of the submission you should discuss what performance-based incentives the offer includes. Be sure to do your research on the industry standards. Be detailed and be sure that you are providing supporting details that explain the incentives offered.
It is ok to use outside research to supplement your learning materials.
Benefits Plan
Discuss the specific benefit plans that is being included in the offer. Be detailed and be sure that you are providing supporting details that explain the benefits offered.
Outside research should be conducted to ensure that you are offering a competitive package.
Reference Page
Your reference page should list all your sources of information and it should be APA formatted.
