Assignment task:
Imagine you work for an IT company called Red Rock LLC that develops applications for training and sells subscriptions to them. It employs 72 people working from different parts of the United States without the need to go to a physical office. The age of the employees is between 24 and 39, 31 of them are women, and 20 have kids. The employees' average weekly gross salary is $1250.
A recent survey conducted by the company's HR demonstrates that 63% of the employees have a low level of job satisfaction and lack of motivation. A half of the employees would like the benefits plan offered by Red Rock LLC to be improved.
The CEO of the company asks you to design a new Employee Benefits Plan that would boost motivation and increase productivity.
Read the two articles and then answer the questions below:
- How to Design an Employee Benefits Plan
- Employee Benefits and Compensation Ideas: A Guide
1. Identify the objectives of the Employee Benefits Plan for Red Rock LLC, and set up a budget for it taking into account the financial constraints that the company may encounter.
2. Based on the demographic information of employees at Red Rock LLC, identify the needs these employees may have.
3. Formulate an Employee Benefits Plan. Include at least 5 benefits and compensations that would be in line with the objectives, meet the budget, and satisfy the needs you identified above.