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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 How employees are paid has a direct impact on the organizations ability to attract, motivate and retain. Identify the method of Direct Compensation you will chose for your Accountants, explain the method, and explain your rational for using. The wage mix is a combination of internal and extern factors which impact all organizations ability to pay their employees. Choose 1 internal & 1 external factor of the Wage Mix explain the factor and how it will impact compensation at ABC Accounting. (Method explained 100 words, Internal Factor 100 words, External Factor 100 words)

Direct Compensation Structure Method Explained - Accountants

Wage Mix Internal Factor - Impact

Wage Mix External Factor - Impact

Benefits

Benefits are part of total rewards that employers offer to employees.

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. (100 words)

Identify 2 voluntary benefits you will provide to Accounting ABC employees and explain the purpose of voluntary benefits.

Explain why these 2 voluntary benefits & the motivational value of each to the employees of ABC Accounting. (100 words for each Benefit)

4 Mandatory Employee Benefits

Voluntary Benefits & Purpose

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? (100 words)

List and explain 3 types of incentive plans, including the benefits of each. (100 words)

You want your Accountants to complete their work with fewer errors - which of the 3 incentive plans will you provide to your Accountants to reduce errors? 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. (50 words)

Incentive Plan 3 Types Incentive Plans & Benefits The Incentive Plan for ABC Accounting Accountants