Directions: The start-up that you\'ve worked for since it began is becoming a pu

Question

Directions: The start-up that you've worked for since it began is becoming a publically-traded company. Your CEO asks you to design the company's new Total Rewards package with the objective of attracting and retaining the best talent. Step 1 First, conduct some background research on best practices in benefits design. For example, you might start by performing a keyword search for "best practices" in an HR journal such as Benefits Quarterly. You can also learn more about what companies with high employee satisfaction do, starting with the information in Fortune's "100 Best Companies to Work For" or Business Insider's "18 of the Best Perks at Top Employers," by Melissa Stanger. Step 2 Write a 2-page memo in which you summarize your recommendations for your company's Total Rewards package. Describe in detail both discretionary and non-discretionary benefits. For example, beyond simply stating that you will offer health insurance (which is required by law anyway), explain the options you will offer to employees and how they will be a selling point in job negotiations. Prove that each non-discretionary benefit you suggest is worth the extra money: back your recommendation up with the research you did in Step 1. This part of the assignment should be done as a professional memo

Explanation / Answer

To: Ceo-johnmichael@xyzcompany.us

From: biraymilinda@xyzcompany.us

CC: Biray Milinda

Re: Objective of attracting and retaining the best talent by analyzing Total Rewards package

I have write this memo to draw your attention towards the company’s new total reward packages. The formation of new perks was on the basis of the analysis of the company’s employee’s interviews, their records, performance, economic conditions of the employees, economic status of the company, the code of the conduct of the company. We know any total rewards policy is based on the mainly four factors such as Total compensation, Benefits, Work Life balance, training, career and personal growth opportunities. I have analyzed the both discretionary and non-discretionary benefits. The perks that we can lure to the employees are as follows with their explanations:

The perks mentioned would be turn up with the extra cost to the company as a good product surely add to the business. As the time duration of the employee increases the loyalty towards work also increases. The non-discretionary benefits to the company as on the basis of some criteria so it would definitely return to the business with the extra revenue addition. I assured you that the above-mentioned perks will surely be attracting and retaining the best talent with the company itself.

Yours Sincerely,

Biray Milinda

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