Establish the compensation package for newly formed

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Let's assume that you have been hired to establish the compensation package for a newly formed company. Knowing that compensation consists of pay, benefits, and other perks, how would you go about setting up the compensation plan for your company? Would you include more pay with less benefits? What about more benefits with lower pay? Why did you select the approach that you selected?

To answer this discussion question, REMEMBER: this is for a newly established company so you will not have an unlimited budget, so think realistically and prioritize your choices. With that in mind, explain how you would establish your company's compensation plan and why. In addition, discuss whether your think employees value more in the way of pay or more in the way of benefits and why.

Reference no: EM132285449

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