Chapter 8 Case Study Rewarding & Recognizing Employees

Accounting ABC is a 200-employee Accounting firm located in downtown Toronto. The roles in the organization include: 50 Administrative staff, 100 Accountants and 50 staff made up of managers, HR, legal, sales & marketing. Accounting ABC prides itself on a team-based work environment.

Using the above information as your case, answer the questions in the 3 sections, demonstrating your understanding of compensation. Remember to be case specific.

Wage Mix

The wage mix impacts all organizations ability to pay their employees.

Explain, in your own words, the wage mix including the internal & external factors used to determine compensation levels.

Wage Mix

Internal Factors

External Factors

Benefits

List 4 of the mandatory employee benefits required by law.

Organizations often provide voluntary benefits to employees. Explain voluntary benefits and the purpose of voluntary benefits.

Identify 2 voluntary benefits you will provide to Accounting ABC employees.

Explain why these 2 voluntary benefits & the motivational value of each to the employees of ABC Accounting.

4 Mandatory Employee Benefits

Voluntary Benefits

Benefit 1 & Motivational Value

Benefit 2 & Motivational Value

Incentive Plans

Describe, in your own words, what is an Incentive Plan?

Explain when an incentive plan used and what are the benefits to an incentive plan?

List and explain 3 types of incentive plans, including the benefits of each.

Which of the 3 incentive plans will you provide to your Accountants? Explain why.

Explain the benefit to the employees and the organization to providing this incentive plan to your Accountants, link your answer to the Case.

Incentive Plans

3 Types Incentive Plans & Benefits

Incentive Plan for ABC Accounting