The Questionnaire which can be used to determine the employee’s satisfaction level of the employees of the level, the satisfaction of the employees regarding the benefits they receive and the type of benefits they would like from the company are as follows:
1. How satisfied are you with the culture of the company?
2. How frequent do you receive opportunities for growth and promotions in the company?
3. How satisfied are you with your current job position?
4. How satisfied are you with your current salary package?
5. How often do your supervisors seek your opinion regarding taking important decisions?
6. How much do you feel valued for your contribution in the organization?
7. How much do you feel connected with your co-workers in the workplace?
8. Do you feel that you are awarded for your dedication and commitment towards your work?
9. How often do you receive benefits from the company?
10. How satisfied are you with the benefits offered by the company?
11. What type of benefits do you seek from your company?
12. Which type of fringe benefits attracts you the most?
The above designed questionnaire will be distributed to all the employees of the organization belonging to different levels and the results of the survey will help in indicating the employees satisfaction level of the company. The responses of 3 individuals belonging to different levels of the organization are as follows:
Respondent 1 (lower level worker of the company)
Respondent 2 (middle level manager of the company)
Respondent 3 (high level executive of the company)
Based on the response of the 3 respondents who were surveyed by the company it can be said that the satisfaction level of the employees in the organization are high though their level of satisfaction is dependent on the level of the organization to which they belong. As opined by Agler (2013) upon surveying a lower level worker of the company it can be observed that the though the level of satisfaction of the employee can be perceived as high but the responses of the worker indicate that it expects more from the organization. As stated by Alexander (2013) the lower level workers of an organization determine their satisfaction level of their job mainly based on their salary and mainly based on the benefits which they receive from their company and they do not take into consideration such conditions such as organization culture, relationship with co-workers and management and their value in the organization in order to determine their level of job satisfaction. From the responses of the lower level worker it can be also stated that the satisfaction level of the employee is higher in nature as they highly feel that are rewarded by the organization for their commitment and effort.
As opined by Nash (2016) upon analysing the responses of a middle level manager of the company, it can be stated that the level of satisfaction of the middle level managers of the company are greater than that of the lower level workers of the company, as the middle level managers of the company take into considerations greater number of factors while determining their job satisfaction level. One of the main reasons which can be identified for the high level of satisfaction of the middle managers of the company is the organization culture as it helps in determining the willingness of an individual to work in the organization. Another reason which can be attributed for the high level of satisfaction of the middle managers of the company is their value in the organization, as they act as a bridge between the top management and the lower management of the company who remains responsible for execution of the strategy and orders of the company and therefore they are highly valued by every organization which enhances their satisfaction levels. Another main reason which can be attributed to the higher level of satisfaction of the middle managers of the organization is their relationships with their supervisors regarding decision making as their supervisors tend to consult them while taking important decisions which makes them feel valuable in the organization and as a result increases their satisfaction level.
According to Hills (2015) upon analysing the responses of a top level executive of the company it can be stated that the satisfaction level of the top level executives of the company is more than the middle level managers of the company as the top level executives executive take into considerations a number of other factors while determining their satisfaction level in an organization. The satisfaction level of the top level executives of the company is influenced their position in the organization and in case the top level executives hold an important position or portfolio in the company with greater importance to the organization, it enhances the satisfaction level of the top level executives. As opined by Dessler, Sutherland & Cole (2005) the high level of satisfaction of the top level executives of the company can also be attributed to their involvement in the decision making process of an organization which helps in increasing their satisfaction level. In addition to the above mentioned factors the higher level of satisfaction of the top level executives of the company can also be attributed to the high salary package they receive from the company and also due to greater chances of growth and promotion in the company.
Overall the employees of the organization, belonging from various levels are satisfied with the benefits and rewards they receive from the organization which further helps in increasing their level of satisfaction in the organization but the satisfaction level of the employees of the organization varies from one level to the other owing to the need of the employees.
As opined by Nwachukwu, Chládková & Olatunji (2018) upon analysis of the employees, belonging to the lower level of the organization it can be observed that the employees of the lower level mainly seek financial benefits from the company in the form of incentives and bonus in order to fulfil their personal and family needs and in order to improve their standard of lives and in case of non-availability of financial benefits, they seek fringe benefits from the company such as workplace flexibility benefits which allows them to receive their pay even if when they are not present at work for a fixed amount of time which helps in increasing their satisfaction level regarding the benefits offered by an organization.
According to Onyebuenyi (2016) upon analysis of the employees, belonging to the middle level of the organization it can be observed that the employees belonging to the middle level of the organization prefer fringe benefits over financial benefits as they perceive that the benefits which are associated with fringe benefits are comparatively greater than the benefits which ae associated with financial benefits. The type of fringe benefits which are mostly popular among the middle level management of the company are retirement benefits and healthcare benefits as it helps in securing the future of themselves and their family when there will be no or limited income. The employees belonging to the middle level mostly prefer fringe benefits over financial benefits as most of them remain satisfied with their current salary structure and therefore they aim to secure their future.
According to Tso, Fai, Liu & Li (2015) upon analysis of the employees, belonging to the upper level of the company it can be observed that the employees belonging to the upper level of the organization mostly prefer fringe benefits over financial benefits as fringe benefits helps in ensuring that they remain productive and effective to continue with their current job role. The employee belonging to the upper level of the company mostly do not seek financial benefits from the company as their salary structure is comparatively higher and therefore they need not to worry regarding securing their future and therefore they seek for fringe benefits which helps in providing relief from the issues they face currently such as stress. The type of fringe benefits which are popular among the top level employees of the company are wellness program, tuition reimbursements etc.
As opined by Appiah (2016) various new and innovative rewards and benefits system are gaining acceptance in the recent time in the changing workforce such as eldercare provisions, free housing for interns, eldercare provisions, pet health insurance and fitness reimbursement programs.
The rewards and benefits package which are offered in the company namely healthcare benefits, retirement benefits, workplace flexibility benefits and tuition reimbursement benefits are adequate to meet the demands and expectations of the employees of the company as they aim to secure both the present and future of the employees of the company and also ensures the well-being of the employees of the company as it is very vital for the employees of the company to remain physically and mentally fit in order to perform their daily job and responsibilities. The rewards and benefits package of the organization package has been prepared by keeping the minds the needs and requirements of the employees belonging to different levels of the company and it ensures the well-being of the employees of the company.
The suggestion to the organization regarding the rewards and benefits package of the organization is that the organization should include financial rewards and benefits for the lower level employees of the company one time in a year as the lower level employees of the company seek financial benefits and rewards more than fringe benefits and rewards in order to fulfil their needs and requirements in a more effective manner which will help in increasing their satisfaction level. Another suggestion to the company is to specifically design a reward and benefits package for the worm employees of the company such as maternity leave benefit which helps in addressing the needs of the women employees of the company.
According to PR Newswire (2015) the starting salary for the individual who will be recruited to the post of marketing manager in the organization is $27 per hour for candidates with low level of experience such as 1-2 years and the starting salary for the candidates with higher level of experience such as 3 years or above is $32 per hour. The yearly pay for the candidates with lesser experience will be $67,392 and the yearly pay for the candidates with higher experience will be $79,872. The organization wants to pay to the new marketing manager of the company at the midpoint of the salary range or at the 50th percentile.
As opined by Ledimo & Martins (2014) the salary of the new marketing manager of the company has been determined by comparing the salary structure which is offered by other companies in similar job role. The salary or compensation level of the new marketing manager of the company is designed accordingly to the job requirements and responsibilities associated with the job role in the industry. The salary and compensation level of the new marketing manager of the company is at per with the average hourly salary or compensation level of the country in which the company is based and the industry in which the company operates. The salary and compensation level of the new marketing manager of the company varies according to the qualification and experienced possessed by the individual who have applied for the position of marketing manager in the company. There are no such special aspects of the marketing manager position in the organization which requires adjusting of the salary level.
The salary and compensation level of the new marketing manager of the organization has been determined by keeping in mind the following factors:
Location- As opined by Kiarie, Maru & Cheruiyot (2017) the location at which the organization is based influences the staring salary of an individual as organizations based in locations with high cost of living offers more salary to individuals of the same positions than compared to organizations based in locations with comparatively low cost of living. Also, if an organization is based on an unfavourable location and the company experiences difficulties in filling the vacancies of the company they tend to pay more salary to their employees for the same job role compared to other organizations located in favourable locations.
Industry- As opined by Ledimo & Martins (2013) the industry in which an organization operates also influences the staring salary of an individual as the organizations which belongs to the more sensitive and high risk industry tends to pay more to their employees for the same job role compared to the other organizations belonging to the low risk industry sector.
Demand- As opined by Syamala, Rao, Reddy & Malina (2016) the market demand for a profession affects the starting salary of individuals in the market. If the market demand for a particular profession is greater than the starting salary of the individuals belonging to those professions is greater than employees associated with a different profession.
The benefits and rewards which will be offered to the new marketing manager of the organization are as follows:
Bonus and Incentives- As stated by Siengthai & Pila-Ngarm (2016) bonus and incentives will be rewarded to the new marketing manager of the organization annually based on performance review and evaluation of the marketing manager. The financial incentive in the form of incentives and bonus annually will help in motivating the individual which will help in enhancing the efficiency and productivity of the marketing manager of the company.
Healthcare Benefits- As stated by Christian & Jacobsen (2013) the compulsory fringe benefits which will be applicable to the new marketing manager of the company will be healthcare benefits which will ensure the well-being of the marketing manager of the company. The healthcare benefits which will be provided to the marketing manager of the company are group health insurance and healthcare re-imbursements.
Workplace Flexibility- As stated by Hur, Moon & Jung (2015) the optional fringe benefit which will be applicable to the new marketing manager of the company will be workplace flexibility benefits. He workplace flexibility benefit will enable the marketing manager of the company to receive pay when on leave for a fixed time period in case any emergency or unforeseen condition arises for the individual.
Tuition Reimbursement- As opined by Onyebu & Omotayo (2017) the compulsory fringe benefit which will be applicable for the marketing manager of the company is tuition reimbursement benefit which will allow reimbursement of tuition fees if the individual is ready to pursue higher education or degree while working in the company which will help in the development of new skills among the individual.
Wellness program- As opined by de Waal (2014) the optional fringe benefit which will be applicable for the marketing manager of the company is wellness program which will aim to keep the employee happy, healthy and productive in nature. The wellness program of the company will include company gym program, exercise classes, smoking cessations and stress management.
Retirement benefits- As opined by Kern (2013) the compulsory fringe benefit which will be applicable for the marketing manager of the company is retirement benefit programs which will provide the employees with something to look forward to after retirement which will allow them to live sustainably and comfortably.
As opined by Lail (2016) the budget of the organization regarding employee benefits is approximately $7.5 million. On an average the company will spend $37,500 annually on each employee of the company and the approximate number of employees in the organization is 200 and therefore the annual budget of the organization regarding employee benefits is $7.5 million.
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