Compensation and Benefits Research Paper Example | Topics and Well Written Essays - 500 words

Compensation and Benefits - Research Paper Example Paychecks are based on the number of hours worked by the employee after deduction of applicable taxes. Salary ranges depend upon the position and place of work of the employee. The places where employees can work are global as Best Buy has hundreds of stores in North America, European Union and Asia (Best Buy 2011) Appendix 2 shows that in North America, Best Buy has 1099 stores in USA, 71 stores in Canada and 6 stores in Mexico. Best Buy mobile has 177 stores in USA and 10 stores in Canada. Pacific Sales has 35 stores in USA. Magnolia has 6 stores in USA and Future Shop has 146 stores in Canada. Similarly there are several stores in UK, Ireland, Spain, France, Germany, Netherlands, Portugal, Sweden, and Belgium in European Union. China has 166 stores. The quantum and size of stores give ample opportunities of employment for people all around the world (Best Buy 2011) The professional-development program provides learning opportunities through its award winning website â€Å"LearningLounge†. Appendix 3 shows that 93% of the retail employees benefited from it by spending more than one million hours participating in over 4.3 million courses and achieving 406,000 certifications. Similarly employees received nearly 10 million dollars in tuition reimbursement (Best Buy 2011) Programs for retirement, paid-time off and health care are developed based on the world wide places where employees are employed. Through enterprise-wise surveys, continuous efforts are made to improve the Employee Satisfaction Index (ESI) by way of taking measures based on suggestions given by the employees (Best Buy 2011) The inspired work place offers clear communication amongst the employees, vendors and stake holders complying with the requirements of law. The ethical standards and values are enforced throughout the company after clear communication. The website â€Å"Ethics at Best Buy† provides opportunities to customers, community members and employees to