Starcorp Incorporated is known as one of The Best Places to Work in 2015. Specia

Question

Starcorp Incorporated is known as one of The Best Places to Work in 2015. Specializing in customer service support for various companies globally. StarCorp Inc. has an average employee age of 45, with low turnover rates for the past few years. Highlights of employee benefits include a 100% 401k match, which was recently adopted this year. Employees enjoy flexible scheduling and free tuition for undergraduate coursework. 1.Looking at rewards holistically to retain these employees, determine which aspects of the rewards strategy has been the strongest focus and explain how at least four of its elements may be addressed to further enhance this area? 2.Explore another aspect to their reward strategy that could use further development and explain why,

Explanation / Answer

The strongest focus is to enable the employee to maintain work-life balance and to converge the employee basic personal needs with its professional benefits.

Four elements that are addressed to further enhance this area are:

i) Focus on longevity of employee service: The average age of company employee is 45 which shows that company focus on appreciating its employee contribution in making of the company and count on their experience

ii) Availability of retirement benefits: Inclusion of 401 k match shows that company care for their employee in long term which motivates an employee to stay for long in the company.

iii) Flexible scheduling: This benefit makes an employee to balance their personal and professional responsibilities without any pressure.

iv) Support Education Fee: The Company offers free tuition for undergraduate coursework which help in sharing the burden of education from employee’s shoulders.

Another aspect of their reward strategy is to offer social security sort of facility so that employee focus on their job with free mind and not take care about savings and their lifestyle. It will help the employee to recognize the company as an important part of their life and helps the company to have employee who are focused and highly productive.   

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