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Construct a benefits structure for CapraTek including legally required benefits retirement plans, and discretionary benefits Employee benefits at CapraTek is a top priority The purpose of benefits

Construct a benefits structure for CapraTek, including legally required benefits, retirement plans, and discretionary benefits. Employee benefits at CapraTek is a top priority. The purpose of benefits is to foster and continuity of employment. From CapraTek’s employee’s perspective, security is a major theme in benefits. But security is an after the fact type of protection. There are also benefits that CapraTek is provided with the exception that their provision will improve and maintain the current level of performance their employees. These benefits include legally required benefits, retirement plans, and discretionary benefits. Legally Required Benefits The legally required benefits that CapraTek has for their employees consist of: • Social Security Taxes (paid by CapraTek and employees • Medicare Taxes (paid by CapraTek and employees • Federal and State unemployment taxes (paid by CapraTek) • Workers Compensation insurance (paid by CapraTek) • Overtime Compensation (for employees not exempt from the Fair Labor Standard Act) Retirement Plans The retirement plans that CapraTek offers validates the statement that the United States, employee protection arrangements have been left to CapraTek rather than the government. The programs offered in the retirement plan are controlled by law when offered, but are not required by law (www.ssa.gov). Validate the alignment of your benefits plan for your pay structure. This pay structure will encourage growth, not just of the employee but for CapraTek. These programs will reward employees on their potential to make positive contributions to the organization. It will offer job enrichment and variety, and potentially flexibility in scheduling. Employees are motivated to perform jobs that contain a higher degree or core characteristics. Because a person can learn a job from beginning to end, it allows for them to become more involved in the task at hand and will allow for accountability and can allow for lean process. One thing that will help this is the employee engagement. Employee engagement is going to be a critical factor in the success of CapraTek and a random approach to compensation and other reward could undermine this. The employees at CapraTek need to know that the organization is trying to do and have all the pieces in place when the new system rolls out.

Jun 14 2020 View more View Less

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