Shannon Albright's Background and Experience
She graduated from a US-accredited university with a degree in bookkeeping. Shannon Albright received her CPA certification. The worker was given a job in bookkeeping at a business in Atlanta, Georgia. Five years of valuable experience were aided by the business. Shannon is a capable worker who requires a compelling deal. The deal ought to fall within the company's financial constraints and pay scale. It ought to be sufficient to persuade Shannon to work for the organization.
Compensation for Shannon Albright
$51800 should be paid to Shannon Albright each year. There is a positive tendency in the pay for accountant employees in the US. The interviewee's education and expertise are taken into account by the employer. Since Shannon Albright has an experience of 5 years, she will get several compensations including overtime salaries, bonuses, and tips. The accounting personnel will receive 401k as benefits for medical and dental care.
Incentive Plan
The employee is given 3% of the base pay upon presentation of month-end books in 10 working days. The employee will receive a bonus after providing a correct financial statement that indicates the performance of the firm. There is also a piece rate for monitoring analytical work like a financial evaluation of records. The accountant will get some extra amount based on the company equity. The value is calculated depending on the value added within the specified period. For such incentives to be made, the company needs to measure performance in a specific and quantifiable manner.
Benefit Plan
The package contains several benefit plans. Shannon Albright will get medical insurance to cover the medical expenses. The company will settle the monthly premiums or give the employee extra money to clear medical bills. The plan covers personal losses from accident, health expenses, and accidental death (Ball, Robin, & Wu, 2003). In addition, vision insurance is the plan provided to cover the cost of treating and checking the eyes by a qualified medical practitioner. The plan allows the employee to acquire the required eyeglasses and contact lenses at the cost of the insurance company. Life assurance is the plan the company provides to the employee to ensure she gets a designated amount of money after a given period. The policy of the life insurance plan ensures the beneficiary gets a lump sum payment at the end (Ball, Robin, & Wu, 2003). It is a good motivation to attract Shannon Albright to work appropriately without the fear of the future. It is an investment policy where the company pays some amount to the insurance firm on behalf of the employee. Business travel insurance is set to cover Shannon Albright when traveling for business operations in other countries. The plan covers all losses caused by the occurrence of an accident during travel. The insurance covers the losses experienced in high-risk countries. It is a proper assurance to the employee that the risks experienced when traveling to represent the company are covered completely. The policy caters for medical bills, emergency travel costs, and other travel expenses. The company also provides several weeks for a vacation to the employee. The aim is to allow the employee to have some time to rest away from the workplace. In most cases, the company gives three weeks annual vacation leave to accountant personnel. Also, the management offers time for holidays to the staff. Therefore, Shannon Albright will be allowed to take rest during the holiday season. Also, the salaried staffs are given sick leaves in case of emergency or unexpected illness (Ball, Robin, & Wu, 2003).
Cover Letter
Dear Supervisor
RE: Proposed Offer for Shanon
After analyzing Shanon’s qualification and experience, I realized that she requires a competitive compensation plan to motivate her in the job. The compensation package provided is enough since it matches her interests and qualifications. It is also the best package offered to other similar personnel in the area. For example, she will earn about $51800 per year. The amount is necessary to settle her expenses such as rents and school fees. The pay is justified in the US since it shows a positive trend. The company also will be in a position to offer such amounts without fail. The employer is fully experienced for five years, therefore, she deserves such a competitive package. She has needed other compensations like bonuses and tips. Due to her commitment to her past jobs, the company should reward Shannon by settling her medical and dental bills. The plan will achieve by offering medical insurance from a reliable company. Incentive plans are important to motivate Shannon in her duties. For example, giving a 3% bonus will motivate her to present the month-end books in 10 days. Also, offering her some amount based on piecework will improve her willingness to evaluate the financial records. The benefit plan contains affordable items that will help Shannon concentrate on the relevant work of the company. For example, giving her medical insurance will cover her medical expenses. The company will settle the required premiums to ensure she saves a large amount of the salary. The personnel will feel safe in the workplace since she understands the insurance company covers the accident injuries. Business travel insurance will allow the employee to perform even in international companies since the expenses and losses are covered. Shannon is reliable personnel who should serve in the company which is located in Boston, MA.
The Plan
My plan is to ensure Shannon becomes an accountant in the company. This will be achieved by offering appropriate compensation, incentive, and benefit packages (Bulawa, 2011). Therefore, I will analyze the financial position of the company to ensure I promise an affordable salary to Shannon. In addition, I will consult other departments and supervisors concerning the employment of the accountant personnel. For that reason, I will calculate the required bonus amount to be given after closing the books of accounts at the end of the month. Another plan is to train Shannon in the policies of the firm to realize the reason that the company gives her such compensation packages. The best plan is to compare what other companies are offering to such employees. I will create motivation plans such as vision insurance to cover the expenses for eye treatments. It is important to identify the best insurance company to offer services to Shannon. I will evaluate the importance of hiring Shannon in the company. Also, creating Key Performance Index will help to track performance in the accounting department (Sehoa, 2015). The orientation process will enable the employee to work towards the achievement of the set goal. For that reason, Shannon is an important personnel who should be hired in the company.
References
Ball, R., Robin, A., & Wu, J. S. (2003). Incentives versus standards: properties of accounting income in four East Asian countries. Journal of accounting and economics, 36(1), 235-270.
Bulawa, P. (2011). Implementation of the performance management system in senior secondary schools in Botswana: the perspective of the senior management team (Doctoral dissertation, James Cook University).
Sehoa, M. F. (2015). Implementation of performance management system on the performance of municipal section 57 managers in the Capricorn District Municipality, Limpopo Province (Doctoral dissertation).
