Organizational Objectives and Total Compensation in Different Markets Essay

Organizational Objectives and gibe Compensation in Different Markets Total recompense is an historic military personnel of the human resource puzzle. It is the thread that can tie valuable employees to the social club and its overall success. The laws and regulations are significant in knowing and understanding in an attempt to apply that knowledge to the overall design of the thoroughgoing salary piece of ground a comp either offers. Working as a federally contracted employer for more than 200 employees, certain laws and regulations will affect the total pay package within the organization. One in particular is the low-cost Healthcare Act. Two biotech organizations and their total compensation package will be discussed.The Affordable Health upkeep ActThe Affordable Health flush Act was designed to help all people obtain and nourish their healthcare coverage even in the event of loss of employment. The construct of the Afforadble Health Care Act allows insurance companies from discriminating against anyone with a be condition, dropping your coverage if you get sick, billing you into bankruptcy because of an illness or injury, and limiting your annual or lifetime benefits (www.whitehouse.gov, 2013). The Affordable Health Care Act was not received well from some of the population. It seemed to be not quite so affordable and quite difficult to obtain. After a few of these glitches have been repaired, it is becoming more acceptable to everyone it is intended for.The in a higher place was just one law that is now to be considered when creating the total compensation package. Most of the benefits offered will be based on the size and positioning of an organization. This organizations total compensation package will entangle an array of benefits that each employee will be offered once they have been hired. These items entangle Medical plan (dental, vision)LTD, STD plansFlexible spending accounts401(k) plansTuition Reimbursement for continuing trainin gEmployee Assistance ProgramsOnsite gymComparisons to these benefits have been made with other biotech organizations, namely join Therapeutics and Amicus Therapeutics.United TherapeuticsThe first organization for comparison is United Therapeutics mass. This company focuses on diversity within its operations and its quest of medicinal discoveries. United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of unique products to address the unmet medical needs of patients with chronic and life-threatening conditions (www.unitedtherapeutics.com, n.d.). about of the benefits United Therapeutics offers is Medical Plan (medical, prescription, dental, vision)401k planOnsite daycare centerSTD/LTD plans collaborator/Domestic partner coverageEAPStock Purchase PlanEmployee Referral bonusAmicus TherapeuticsAmicus Therapeutics is also a biotechnology organization that employees over 200 employees. Their briny focus is to engineer and develop tr eatments for rare and orphan diseases. Their total compensation package includes Medical, dental, visionFlexible spending accounts401(k) plansEducation assistance inducing awardsEmployee programsThe packages offered by these companies are very similar. The differences would be that United offers onsite daycare, stock procure options and employee referral bonuses. Many of the basic benefits such as medical, flex spending and 401k unremarkably is the most important benefit for most employees. Offering other boot benefits will just help to retain the current pool of employees and any future employees that join the organization.ConclusionAn attractive compensation package is important to appeal to prospective employees and to retain current employees. The total compensation package that is being offered has been compared to two other biotech organizations and is fairly similar and acceptable in this particular industry.Referenceshttp//www.amicusrx.com. (n.d.). Retrieved from http//ww w.amicusrx.com/careers.aspx http//www.unither.com. (n.d.). Retrieved from http//www.unither.com/careers-benefits.html http//www.whitehouse.gov. (2013). Retrieved from http//www.whitehouse.gov/sites/default/files/uploads/careact.pdf