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Market Evaluation

Autor:   •  August 22, 2015  •  Essay  •  1,079 Words (5 Pages)  •  703 Views

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Market Evaluation

A research and market evaluation was completed to find what construction companies are providing to employees from a total compensation perspective.  Research was conducted on four companies: Turner Construction, Sundt Construction, and DPR.  The end result was that the four companies offered many of the same benefits.  Below is a brief summary of each company and their compensation packages that are offered.

Turner Construction

Turner Construction offered medical, dental, and vision to employees and their families.  Within the medical benefit “prescription drug coverage and mental health and substance abuse coverage” (Turner, 2014, para 1) are included.  Turner Construction also offers a health-club reimbursement, flexible spending accounts, life insurance, short and long term disability, and accidental death and dismemberment.  Turner Construction provides basic life and accidental death and dismemberment insurance at 2 to 3 times an employees’ annual salary with the option to purchase more.  

Compensation

New hire base salary “is determined by the scope of responsibilities, qualifications, and years of experience” and all salaried employees are “eligible for discretionary End of Year Premium Pay,” (Turner, 2014, para 5).  Employees working in higher positions are eligible for the Annual Pay bonus (Turner, 2014).  

Reward Programs

Besides the benefit and compensation packages, Turner Construction also offers many different programs to their employees.

  • College and University Gift-Matching Program
  • Employee Referral Program
  • Tuition Reimbursement Program

Sundt Construction

Sundt Construction offers employees and their dependents healthcare, vision, and prescription benefits.  Employees have the option of purchasing one of three plans Sundt offers.  Sundt provides basic life insurance and accidental death and dismemberment at 2 to 3 times the employees’ annual pay.  Disability insurance is also offered at no cost to the employee.  Short term disability “is a salary continuation program that pays a portion of an employee’s pay while off work due to disability,” (Sundt, 2014, para 10).  Long term disability “provides a disabled employee, 60% of their gross monthly salary prior to a disability,” (Sundt, 2014, para 10).  

Programs

The Wellness Management Program encourages employees to live a healthier life whether it is to stop smoking, managing health issues, and getting annual check-ups.  The Bona Fide Wellness Program credits employees and their spouse/domestic partner up to $350 for out-of-pocket expenses to maintain/improve their health.  The Health Management Program offers “free health evaluations to all employees and their spouse/domestic partners covered under the Plan,” (Sundt, 2014, para 6).  The Employee Assistance Program offers free confidential counseling and referrals to employees and their dependents.

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