Hi, I need help to design a total compensation program. Please carefully read the task; the reference is the situation given in the last part. I really appreciate any help you can provide.

Kindly do not reply no reference. REFERENCE IS THE SITUATION GIVEN BELOW AND FIGURES.

The Task

As theCHRO, you have been tasked with designing a total compensation program to fix your inherited mess. The hospital has given you a budget to work within and some options to choose from, summarized below.

ItemDescription Relative Cost Points

WagesIncrease

for all salaried and professional employees

to65th percentile 4.5

Min WageIncrease Min Wage to$12/hr 2.0

Increase Min Wage to $15/hr 3.0

(accompanied by a5%lay-off)

PTOIncreasePTO to 7days/yr 1.5

Increaseto 12 days/yr 2.5

ExtendedFMLA (12 weeks paid) 3.0

InsuranceAdd spouse/dependent coverage 2.5

Add life insurance upgrade 0.5

401kAdd3%match 2.5

Add 6%match 4.0

FSPFlex Spending Plan - includes

Dental,optical, meds 1.5

EducationTuition supplement - current semester 2.0

Student loan repayments

-(Payoff 30% of balance up to$12,000) 3.5

Child CareCover 30% of cost foremployees 2.5

OfferOn-site day care for all employees4.0

The help I needed:

Designate in aspect the entire compensation package you will endorse to the CEO, keeping the total cost at or below 13.0 Relative Cost points.

If you can produce a proposal that is 12.0 Relative Costs points or below, you will individually receive a $10,000 bonus - which will remain confidential.

You are not permissible to generate alternatives through extrapolation, e.g., "add 401k match at 4% for 3.5 Relative Cost

points" nor recommend items not listed above that bring with them any

high cost.

Be evident to deliberatewhyyou have chosen each of the benefit and compensation structures built-in in your recommendation. This discussion could contain the significance of the planned feature to a group of employees (ex: nurses), a generation of

employees (ex: Gen X), or the Hospital itself (ex: marketing, recruiting, etc.). You may also discuss why you did NOT include certain benefits in your

plan.

Here is the situation/Reference

Act that you are the new CHRO of a 450 bed, city full-service hospital with over 2,300 employees -- Congratulations! Despite placing at

the 45thpercentile for earnings in the region (there are 3 more hospitals within 10 miles of your own hospital), self-confidence among workforces is at all the time shallow A current worker survey exposed the underprivileged morale and a high rate of exhaustion. (, 30% of the nursing staff confessed to now looking at other employments.) Through the past 2 years, the staff renewal rate has been about double the prior rate and nonattendance was up 50% over the equivalent time period. The former COO presented a worker "flex time" a strategy that saved the facility 15% in salary costs by directing employees home when the patient count was small. Note that, 70% of nurses managed to work a 40-hour week last quarter consistently.) This platform provides all workforces 3 days of individual time/sick time to accumulate 2 weeks vacation.

Existing workforce assistances contain a small life insurance policy, a 401k plan (no matching) and health insurance for workforces, but not spouses or children. No other insurance or benefits are currently accessible. (75% of employees have a "significant other" and 40% have at least one child between 1 and 12 years old.)

Demographics and more

information:

Current Workforce (excluding physicians)

Boomers- 25

Gen Z - 5%

Gen X - 40%

Millenials (Gen Y) - 30%

Minimum Wage Workforces are 15% of the staff and their existing average pay rate is$10/hr. The majority of these workers are in food

industry/service, housekeeping, patient transport, bookkeeping, and medical helpers.