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Do It Yourself

In: Business and Management

Submitted By jumajo23
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Running head: Doiturself Home Improvement Supply Store

Doiturself Home Improvement Supply Store
Judith M. Wardwell
Park University Doiturself Home Improvement Supply Store Abstract
Doiturself Home Improvement Supply Store has experienced record growth over the last year. Currently they have 20 stores across the four state regions. Doiturself Home Improvement Supply Store has been struggling to keep up growth and replacement of staffing needs. The President of the company has plans to open 10 more stores in the next year. Doiturself Home Improvement Supply Store needs to revamp their compensation and benefits package; the current package isn’t competitive enough to recruit new employees or retain its current employees. Retention packages also need to be reviewed due to a high turnover in the last two years. Currently Doiturself Home Improvement Supply Store offers a basic base salary to all store managers, 401K with a 5-year vesting cycle, 2 weeks’ vacation, and a basic benefits package including health, dental, vision and prescriptions.
Doiturself Home Improvement Supply Store
Compensation is a primary motivator for employees. People look for jobs that not only suit their creativity and talents, but compensate them both in terms of salary and other benefits. Doiturself Home Improvement Supply Store’s Human Resource (HR) department needs to review the competitors box store hardware stores to see what they are offering for compensation and benefit packages and in order to improve retention consider offering a step higher better package this way employees will know they are getting the best package offered in their market of employment.
Doiturself Improvement Supply Store needs to seriously consider offering retention bonuses to their store and department head managers. The retention bonus is an incentive that is offered above any...

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