Base Salary
The base salary provided is for an operations coordinator in Uruguay. The previous domestic base salary of $312,000 has been increased to $ 384,000 annually. The increment follows an increase in the number of team members that the operations coordinator is responsible for supervising. Moreover, the increment covers the hefty tasks and hardship costs that the employee may face in the country.
Equalization Benefits and Tax Issues
This part stipulates the various benefits that the employee will receive after the transfer to Uruguay. First, the pension plan is a comprehensive benefit, which prompts for a 5% contribution to the benefits plan. The contribution is deducted before any taxable amount is subtracted from the base salary. The company contributes $2000 to the employee pension. Taxes include the standard deduction made from the payroll. Additionally, payments for Medicare are deducted to safeguard the health scheme for the employee.
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Incentives and Compensation Plan
Health insurance provisions for the employee will be raised from the previous $5000 to $ 10,000. Other additional incentives include a life insurance plan that is bestowed on the operations coordinator. Additionally, vacation benefits are also provided. The employment contract determines the changes in annual salary for the employee. Remunerations are done as per the overall bargaining agreement in the contract. Each year, $ 384,000 and the additional benefits are reimbursed. The use of reputable employee benefits enhances performance and intrinsic motivation (WorldatWork, 2015).
Evaluation Process
The evaluation process involves a combination of measures that justify the level of employee remuneration (WorldatWork, 2015). The level of staff morale is an appropriate measure for the operations coordinator. Moreover, the overall change that the employee brings about is an effective measure that will be used in this compensation plan. The competence of workers will also determine the compensation plan for the employee.
References
WorldatWork. (2015). The worldatwork handbook of compensation, benefits and total rewards: A comprehensive guide for hr professionals . Hoboken, N.J: Wiley.
