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Essay / Research Paper Abstract
This 12 page paper considers the start up of a small restaurant and how a compensation or remuneration package can be put together that will be competitive and encourage the recruitment of good employees and create loyalty at the same time as being economically efficient. The bibliography cites 5 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TErestcomp.rtf
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Unformatted sample text from the term paper:
is the employees and there attitude. In considering how a compensation or remuneration scheme should be set up there are many elements to think about. The first consideration should
be the type of business that is considering setting up or reviewing their compensation scheme. In this case there is a small restaurant, which will need less than twenty full
time staff. This is also a low profit industry and as such the compensation package needs to be economical. However, the level of profit made by the restaurant will also
be largely dependant on the way the staff work, costs can escalate without careful food handling and the skill of the staff, likewise good waiting staff may increased the per
head spend of the customers with high profit items such as wine. This example could be a high end restaurant where the
mission statement is "to provide guests with top class dining experience, exceeding their expectations in food and service quality so they will want to visit again and again" When
looking at the way a remuneration scheme is to be put together we first need to define what we mean by compensation. Compensation is described by Oxford English Dictionary as
"Something, such as money, given or received as payment or reparation, as for a service or loss". In the modern world this can be most apply applied to the way
in which workers are compensated for work they undertake. In many cases we may see this as their wages or salary, however, compensation is greater than simply the monetary value
of the payments, but the entire remuneration and also related issues. The first consideration in assessing this is to realise there will be direct and indirect benefits. The first consideration
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