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Important information about Compensation and benefits
One way organizations attract and retain talented employees is through a well-designed package of compensation and benefits. Research various approaches to compensation and benefits, and prepare an executive-level report that addresses each of the following:
What are the elements of a comprehensive compensation and benefits package?
What are some of the typical considerations for how organizations position compensation and benefits?
What types of benefits packages are most attractive to workers at different stages in their career? At a minimum, discuss the needs of younger workers, middle-aged workers, and workers nearing retirement.
What are some of the options an organization seeking highly qualified candidates might offer in compensation and benefits to recruit for a highly technical position such as a mechanical engineer?
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Benefits are very necessary. However, it is not possible for all companies, of any size to be able to afford all of these programs. In addition, the new medical insurance fine may in many cases put companies down for the count.
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