Traci has asked your team to develop compensation

Traci has asked your team to develop compensation and benefits strategies for Sentimental Solar who are moving to Texas.  It is important to understand the relationship of compensation and benefits to achieving business objectives and employee attraction and retention.  You will also need to consider the increasing cost of compensation and benefits and appropriate actions management may take to maintain or reduce this cost factor.  It is important that any business have a compensation and benefits plan that not only attracts and helps to retain quality employees, but also allows the business to survive financially.
 


WEEK 3 ASSIGNMENT:  COMPENSATION & BENEFITS STRATEGIES
Remember this is a continuation of the Employment Law paper.  Purpose of Assignment
For this task, Traci has asked your team to develop compensation and benefits strategies for Sentimental Solar who are moving to Texas.  It is important to understand the relationship of compensation and benefits to achieving business objectives and employee attraction and retention.  You will also need to consider the increasing cost of compensation and benefits and appropriate actions management may take to maintain or reduce this cost factor.  It is important that any business have a compensation and benefits plan that not only attracts and helps to retain quality employees, but also allows the business to survive financially.
Make sure to include results of a market evaluation, recommends a compensation structure, and recommends position in the market.  Includes a total compensation and benefits strategy, includes the use of performance incentives and merit pay to recognize and engage employees when appropriate, Identifies laws related to benefits and pay programs, and the recommendation is no more than 1,750 words in length with APA references for in-text citations.
VOICE MAIL MESSAGE from MARY LEE LUTHER at SENTIMENTAL SOLAR (to Traci at Atwood Consulting) is requesting additional research on Pay & Benefits. 
1. Pay & benefits comparable to other solar manufacturers 
2. Because of the expansion from Michigan to Texas, make sure strategies will work there since they are different from those in Michigan
3. Adding an additional 20% to workforce of 350 employees
4. Annual net revenue of a - $25 million is expected
5. They are expecting to maintain a negative 3% revenue growth to stay the same at least for the first year