Career Development Plan Iv

A total compensation package includes a sum of all benefits, monetary and otherwise an employee receives from an organization or company he or she is employed. These packages depending on the size of the company include additional benefits other than salary options, for example, stock options, assortment of discounts, bonuses, retirement savings, investment plans. Sequentially providing additional incentives to attract quality employees as well as keeping proficient workers currently working for the company a complete compensation package that will include more than the simple salary or wages. The compensation package should be disclosed so all applicants and employees including all benefits offered by the company. An organization’s revenue, size, industry, and location and compensation philosophy also dictate terms of the compensation packages offered.

In addition to the basic salary compensation, there is usually some sort of paid time off (PTO) or paid vacation time. This may come in the form of one or two weeks’ vacation during the calendar year or providing for the accrual of time off that may be taken by the employee when necessary for vacation or illness (PTO).

Wells Fargo offers several benefits in the compensation package, including a website that discloses information for all employees to make informed decisions about health plans and other benefits, find a suitable medical professional, and understand paid time off (PTO) options.  In addition, as Wells Fargo employees have access to some valuable external resources that can help improve his or her health and manage medical conditions, or simply explore that elusive balance between life and work (Wells Fargo, 2010).

Depending on the size of the organization, the following examples of benefits would make a complete and desirable compensation package to offer to future or current employees. Some of these benefits can be considered no-cost or low-cost to the...