ACME Print Case: Employee Benefits Minimum length for assignment 3/4 page, college writing Given the current tight labor market, ACME Print is struggling to retain employees and needs to attract new employees. ACME's pay structure is competitive but they don't offer some benefits that larger companies do like a 401k plan, tuition reimbursement and the PTO (paid time off) could be more competitive ACME's health insurance plan is competitive, so no changes will be proposed. You feel confident that if HR & management address PTO, 401K & tuition reimbursement, the company will be able to attract and retain employees. Keep in mind, ACME is a small business so costs must be managed. One issue with PTO is vacation time is separate from sick time. If you exhaust your sick time allotment for the year, you must take vacation time to be paid. ACME's PTO policy is as follows depending on years of service: Years of Service Days of vacation Sick days 1 year 5 S 7 5 3 years 5-19 years 10 5 20 years + 15 1. What changes would you recommend to make your vacation policy more competitive? Explain. 2. What changes would you recommend to make your sick time policy more competitive? Explain. 3. Describe how your new 401K plan will be designed. Explain whether the company will match employee contributions and what percentage will be matched, if any? how much will be matched. Will you offer in a profit-sharing plan? Explain 4. Will you offer employees a tuition reimbursement plan. Describe how this plan will be designed. How much will you pay for higher education? What will be the amount capped on each employee per year & lifetime? Will there be an employee retention agreement with each employee who receives tuition reimbursement? If so, how many years must an employee stay with the company after receiving tuition reimbursement. 4A. What limitations will you make to the tuition plan to make sure employees take courses and degrees that are job related or will you allow employees to take any course offered at a college or trade school? Explain your response. 4B. Will you cap the total amount spent on tuition reimbursement each year, so some employees may not receive reimbursements