Compensation and Benefits Strategies

Compensation and Benefits Strategies Recommendations
John Dickover

Compensation and Benefits Strategies Recommendations
MEMORANDUM TO:           Bradley Stonefield
FROM:                                   John Dickover
                                                HR Consultants
SUBJECT:                             Compensation and Benefits Strategies Recommendations

  1. Introduction:
Mr. Stonefield, Team B received your voicemail and we understand you are requesting information on pay and benefit strategies. We have gathered you important information upon your request. Again all our recommendations are keeping the following facts in mind. First to be a limousine company comparable to other business providing similar transportation services in Austin, Texas, and what is the market in Texas for a limousine business (University of Phoenix, 2014). Second your plan of hiring approximately 25 employees (University of Phoenix, 2014). Third your projected annual net revenue for the first year is -$50,000 (University of Phoenix, 2014).   Finally, your prediction of 5% revenue growth over the next couple years (University of Phoenix, 2014).   The information provided to you is based on what you stated you wish for your limousine business. The information is also based on the type of business, and the current federal laws and Texas state laws.
  2. Market evaluation:
Due to constricted competition, hiring skilled and experienced limousine drivers in Austin, Texas for a small start-up business will be challenging. Austin has a large amount of contending limousine businesses operating in the vicinity of the Austin area. The high volume of competing companies in Austin create a vast amount of issues when it comes to human resources. One of the issues some could expect in the limousine market is high employee turnover because of characteristically low income. The weakening of US and Global growth in recent years is another factor to...