Case Scenario:
Doiturself Home Improvement Supply Store, has experienced record growth over the last year. You currently have 20 stores across the 4 states. As the Senior Human Resource Director, you find yourself struggling to keep up with growth and replacement staffing needs. And, the President of the company has just told you that he plans to open 10 more stores in the next year! Your gut tells you your compensation and benefits package isn't competitive enough to recruit new employees. Then to make matters worse, you can't seem to keep the employees you do recruit more than 15-22 months before they resign (and often times go to the competitor).
Currently you offer:
- Base salary
- 401K with a 5-year vesting cycle
- 2 weeks vacation
- Benefits package including health, dental, vision and prescription.
Question 1. Explain the steps you would take to research exactly how your compensation and benefits package is impacting your recruiting and retention.
Question 2. Choose at least two factors of the compensation and benefits package you could add or increase to recruit new employees and two that could help reduce your turnover in that 15-22 month employee group.
Question 3. Justify the factors you want to add (or change) to the package.