What a Marketing Assistant is offered at LUREEN (Using TRM) BY: Ali Yusuf (201201237)
Presentation Agenda What is a TRM? TRM components Using TRM to show Marketing Assistant rewards Questions and Further justifications
TRM (Total Rewards Model)
Five Components: 1. Compensation 2. Benefits Fixed Pay (e.g. Base Pay like Salary) Variable Pay (e.g. Bonuses) Example : Pay for time not worked 2. Benefits
4. Performance & Recognition 3. Work-life Example: Work Flexibility Example: Awards like Employee of the month Example: Training and learning 4. Performance & Recognition 5. Development & Career opt.
Marketing Assistant Rewards 1. Compensations: Fixed Pay Base Wages Monthly Salary Pay $43K=BD16K , divided by 12=BD1.3K Taxes and Living cost? Therefore, BD400-450. Shift & Holiday Pay (e.g. Art. 57 (b) PSLL) Bonuses Program (Referral / Project completion) (Salary, 2013) (Severson, 2011) (Haratty, 2012)
2. Benefits Legally Required: Social Security/Unemployment insurance –Defined Benefit Plan offered- (SIL, Art. 18 – rates- & 33 –employer contribution rates-) Medicare (Art. 171/172, PSLL & Art. 50 SIL) –Medical Plan will be given-.
Continued Pay for time not worked: 1. Vacation: Art. 58 (annual leave 30 days -full pay-) 2. Holidays: Art. 64 (Eid & official occasions –full pay-) & Pilgrimage leave (art. 67) 3. Sick Leave: Art. 65 (15 days 20 days 20 days) 4. Bereavement leave: Art. 63 (3 days –full pay-)
4. Performance & Recognition 3. Work-Life Maternity/Paternity Leave (Art. 63) On Site Fitness Facilities (Hotel Gym) 24-Hour Nurse Line (Hotel Nurse) –Art.171(3), provide first aid)- Volunteer Programs and other activities (like annual camping) Performance Reviews Service and goals specific Awards 4. Performance & Recognition
5. Development & Career Outside Seminars and Webinars On the job training and New technology training Manager help and Resident experts Chances of Job Promotion *Satisfy employee and trade union because of collective bargaining –Art. 137/138-.
Important References Salary. (2013). Retrieved from http://www.indeed.com/salary/Marketing-Assistant.html Severson, D. (2011). The typical pay for a marketing assistant. Retrieved from http://work.chron.com/typical-pay-marketing-assistant-5426.html SIL (1976). Social insurance law. Retrieved from http://www.ilo.org/dyn/travail/docs/688/Act on Social Insurance.pdf Haratty, T. (2012). New minimum wage increase. Retrieved from http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=313844
Thank You for your attention. Any Questions?