Identify and explain one way that benefits meet

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Reference no: EM133573331

You are the human resources director for the City of Rio Salado. There are five employees in the Human Resources Department, and each person receives an annual salary. You have been asked to prepare document that identifies this year's total salaries and calculate next year's personnel budget for the department.

As you prepare the budget, keep in mind the following facts:

The total cost to the personnel budget includes the employee's salary and the city's portion of the employee's benefits (medical, dental, retirement, short term disability, etc.). The city's financial portion of the benefits totals 25% of the employee's annual salary.
You have been told by the city manager that all employees will receive a 5% salary increase next year.
Your employees and their current salaries are listed below:

Using the template, enter each employee's current salary, calculate next year's salary, calculate next's year benefit amount paid by the city, as well as the total salary/benefits compensation amount.

b. Calculate the current budget amount for total personnel costs, next year's total personnel costs as well as the difference between the two years' budgets.

At the bottom of the spreadsheet, answer the following questions:

Should similar jobs in the private and public sectors have comparable salaries? Include reasoning to explain your answer and at least one citation and reference
Identify and explain one way that benefits meet the needs of employees and one way that benefits meet the needs of employers.

Reference no: EM133573331

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