Home > Free Essays > Business > Employees Management > Secretary’s Compensation in Retail Business

Secretary’s Compensation in Retail Business Essay

Exclusively available on IvyPanda Available only on IvyPanda
Updated: Sep 24th, 2020

Creating a solid compensation and benefits package for an employee may influence many factors connected to job performance, job satisfaction, and commitment. This responsible task is appointed to the human resource department. While some types of benefits are required for every worker, some additional compensations and non-financial incentives are unique to certain professions. The job position of secretaries and administrative assistants is not an exception, although this profession is also highly dependent on the type of organization. This paper aims to create a compensation and benefits package for the position of a secretary in an HR department of a retail company.

According to the United States Department of Labor (2017), retail companies along with other types of businesses are one of the industries with the highest concentration of secretaries and assistants. The department of human resources can significantly influence the course of a retail business. Retail companies are represented by their employees as much as their products. The described retail company consists of a number of stores, located in one city. While the size of this business is small compared to major chain stores and retail organizations, the importance of hiring high-quality personnel stays the same. Therefore, the position of a secretary for the HR department should not be undermined. This type of an organization implies that a secretary will perform such duties as appointment scheduling, paper and electronic files organization, interaction with department’s callers, and other administrative tasks.

The job specification of a secretary shows that choosing to use competitive pay is not the best approach for the position’s compensation package. Secretaries’ pay does not revolve around interaction with customers or retail part of the business. Therefore, the main part of the financial compensation should be represented by fixed wages (Gupta & Shaw, 2014). The statistics show that secretaries in the retail business can have hourly wages of $18 on average. Furthermore, because this particular job position does not require an individual to show competitiveness, incentives directed at a higher level of performance cannot be considered. However, some financial incentives may include paying for overtime. The secretary position falls under the description of nonexempt employees. Thus, they are expected to receive not only a minimum wage but also overtime compensations. For example, if an employee is asked to work during the holidays or weekends, he or she should receive a financial compensation that equals at least one-and-a-half rate of the established hourly wage for every additional working hour.

A wide variety of benefits should also be present for this job position. First of all, an employee should be guaranteed to receive a number of standard benefits, such as dental care, medical insurance, and standard 401(k) retirement savings plan. Some additional insurance coverage can be discussed as well. The partial coverage of health care for the worker’s domestic partner or spouse is another benefit that is expected of the companies (Bloom & Trahan, 2016). According to the United States Department of Labor (2017), most companies offer health insurance programs that are based on a preferred provider. Such packages allow the company to restrict its fiscal spending. Moreover, paid sick and vacation leave allows the worker to feel secure in his or her position and ensures stability. Non-financial rewards are also important because they affect employees’ morale and perception of the company. Thus, such rewards as skill development and opportunity for career advancement may be connected to the worker’s level of job satisfaction. Retail businesses can also entice their employees with various product discounts and sales (Armstrong & Taylor, 2014).

References

Armstrong, M., & Taylor, S. (2014). Armstrong’s handbook of human resource management practice (13th ed.). Londin, UK: Kogan Page Publishers.

Bloom, D. E., & Trahan, J. T. (2016). Flexible benefits and employee choice: Highlights of the literature. Elmsford, NY: Pergamon Press.

Gupta, N., & Shaw, J. D. (2014). Employee compensation: The neglected area of HRM research. Human Resource Management Review, 24(1), 1-4.

United States Department of Labor. (2017). Web.

This essay on Secretary’s Compensation in Retail Business was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda.
Request the removal

Need a custom Essay sample written from scratch by
professional specifically for you?

Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar

certified writers online

Cite This paper
Select a referencing style:

Reference

IvyPanda. (2020, September 24). Secretary's Compensation in Retail Business. https://ivypanda.com/essays/secretarys-compensation-in-retail-business/

Reference

IvyPanda. (2020, September 24). Secretary's Compensation in Retail Business. Retrieved from https://ivypanda.com/essays/secretarys-compensation-in-retail-business/

Work Cited

"Secretary's Compensation in Retail Business." IvyPanda, 24 Sept. 2020, ivypanda.com/essays/secretarys-compensation-in-retail-business/.

1. IvyPanda. "Secretary's Compensation in Retail Business." September 24, 2020. https://ivypanda.com/essays/secretarys-compensation-in-retail-business/.


Bibliography


IvyPanda. "Secretary's Compensation in Retail Business." September 24, 2020. https://ivypanda.com/essays/secretarys-compensation-in-retail-business/.

References

IvyPanda. 2020. "Secretary's Compensation in Retail Business." September 24, 2020. https://ivypanda.com/essays/secretarys-compensation-in-retail-business/.

References

IvyPanda. (2020) 'Secretary's Compensation in Retail Business'. 24 September.

Powered by CiteTotal, best citing machine
More related papers