Compensation and Benefits Strategies

Compensation and Benefit Strategies

HMR 531

Compensation and Benefits Strategies

        The purpose of this paper is to fill a request from a client of Atwood and Allen Consulting services in regards to compensation and benefit strategies recommendations. Bradley Stonefield is planning on opening a full-service limousine service company, Landslide Limousines. In order to have a high success in employees a company must have a strategic compensation and benefit plan including pay scales, benefit programs as well as rewards and company perks given to those that earn it. In compiling the strategic planning for Mr. Stonefield, he gave us a few things to keep in mind such as being comparable to other companies in the same area, employee growth, market and revenue.

COMPARABLE TO OTHER COMPANIES

        In Austin, Texas and surrounding areas there are over 440 different limousine service companies which make the HR department a little challenging to stand out from the rest.  Due to the tight competition, finding well qualified and experienced drivers can pose as a difficult task to achieve. To achieve this task Landslide Limousines must offer a variety of benefit packages, rewards and company perk opportunities and a pay scale that offers room for pay growth. With so many other companies already providing services, Landslide Limousines will need to work diligently to achieving the notoriety status as the current top companies are at.

        According to payscale.com, “the average wage for a Limousine Driver is $11.63 per hour”, (payscale). At a national average the annual pay is $31,000. To hire employees in a growing company in an industry already thriving, Landslide must match or beat the average hourly pay. As well as offering benefit and company perks and rewards, it’s recommended that new hires receive paid training as well. As drivers gain experience and meet levels of performance successfully, pay increases and bonus will come into effect. People want to work for a company that treats their employees above the others, fair and respectable.

        Lastly, offer a way for customers to leave feedback about his or hers overall experience. This will allow for Landslide to know just how enjoyable or safe their travels were or what changes need to be immediately taken. Customer satisfaction surveys can also aid in employee pay raises and bonuses.

EMPLOYEES

             It is important for Mr. Bradley Stonefield to perform the proper interviews when hiring employees for his business. When hiring employees one of the screening processes should include both a thorough background check on each individual qualified for the job as well as check to make sure they have a clean driving record. By hiring employees clear of felonies will reduce any liability risks that may be of a problem such as theft or anything much more serious. Having a clear driving record will also reduce the liability. Knowing that Mr. Stonefield has safe and accident free drivers on the road will definitely help gain his reputation in this industry. Having a clean background and driving record will be of great benefit to the upcoming limousine company that Mr. Stonefield wants to open because people like to feel safe when having someone drive them home or from place to place. Something else that Mr. Stonefield should take into consideration when hiring his 25 drivers is the gender of the individuals. Mr. Stonefield should shoot for having both male and females because many people don’t necessarily always want males driving them around. That will avoid having customers go to other limousine companies to find exactly what they are looking for. Furthermore it is crucial not to discriminate against the hiring of any qualified applicant due to race, gender, religion or age. The type of employee that is hired on will impact the overall appeal of the company. Hiring experienced, clean and polite people is the key.