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Employee Benefits

In: Business and Management

Submitted By dolwilliams
Words 600
Pages 3
Assignment: Employee Benefit
Dolphinette Williams
HRM/240
November 21, 2010
Karen M. Wilson

MEMO

TO: Upper Management
FROM: Dolphinette Williams
RE: Employee Benefit Package
DATE: November 21, 2010

I propose this benefit package plan for all current and new hire employees. Offering these benefits will keep the talent we have and recruitment of new talent will be easier. Because the company is a small company we will have to consider the cost of each benefit for the company. I suggest that each of the benefits recommended in this package have thoroughly been researched and the cost would be minimum for the company, keeping in mind what would be cost effective for our employees too.
I recommend that we offer an HMO plan, because this plan cost the company less and less out of pocket money for our employees. The company would pay the cost for the employees and the employees would pay a cost to insure their family members. I recommend that we offer the employee two weeks paid vacation after one full year of employment with the company. We would offer an additional week after five years of service with the company. Employees should give a two week notice to get approval for vacation time. Employees should be allowed to carry over one week of vacation time not accumulating more than four weeks of vacation in any given year. I would also recommend four hours of sick leave accrual for every 40 hours worked in a pay period. Sick leave is recommended because employees do get sick and if they have children they get sick too and they should be paid for this time, because there are a lot of single parents these days and any time without pay could cause a hardship. I recommend that our company offer a 401(k) savings plan, with the company matching dollar for dollar that any employee contribute up to $100.00 per month. Employees are real interested in some...

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