BENEFIT & COMPENSATION MODELING
All executives, regardless of how small or large their companies might be, want to know how much to provide to their employees in terms of salary and benefits to maximize the return they receive on their human capital. Should they, on the one hand, not provide enough money and/or benefits, it is likely that their employees will either goof off and/or jump ship. However, if they, on the other hand, pay too much they run the risk of going out of business, due to their not being competitive. With this being the case there are optimal levels for both the salaries and the benefits that a company should currently offer to its employees. Moreover, because situations rapidly change in today’s business world in terms of governmental regulations, international competition, economic stability, etc., proprietary systems that automatically update, as their inputs change, can produce tremendous advantages to human resources departments.
Having said these things, the professionals at Premier Business Experts are leaders when it comes to performing statistical analyses and making recommendations to human resources departments when it comes to the optimal levels of salaries and benefits to provide. Additionally, the professionals at Premier Business Experts are leaders when it comes to enhancing morale and productivity with improved feedback systems, special incentives, recognition programs, skills development sessions and corporate events! Thus, even if you have just one employee working for you, Premier Business Experts can help to reduce your points of pain and increase your sources of gain!
[dropshadowbox align=”none” effect=”lifted-both” width=”100%px” height=”” background_color=”#789351″ border_width=”1″ border_color=”#dddddd” ]How a Law Firm Focusing on Immigration Issues Almost Made a Costly Mistake with Its Clerical Staff
Solution: Because the attorney was planning to provide basic medical insurance to those on his staff, earning “just above minimum wage,” he asked for the help of Premier Business Experts. However, when the employees were interviewed, it was realized that they were not happy and that the plan was about to cause a mass defection. In large part, this was because the employees felt that if the attorney had that much money to “blow,” he should provide higher wages. These employees, who were mostly first-generation immigrants, also had strong sentiments that if they had medical problems they could either take advantage of public-aid-programs in the United States or return to their homelands where their medical costs would be lower and their family support greater. With this realization, the attorney decided to provide an average, hourly-wage increase of two dollars, and also to host some parties for his staff members to develop a greater sense of unity amongst his employees. The result was that his turnover of employees decreased by about half and the productivity increased by about one-third, due to the dedicated efforts of those at Premier Business Experts![/dropshadowbox]
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