Happy employees help a company's productivity remain high. Therefore, it is very important to compensate an employee's work for something he or she finds valuable. Compensation can be a myriad of things. In more traditional compensation packages the money would largely constitute the base salary. Benefits are generally included such as health, welfare and pension. If the company is large enough, it may also offer a profit-sharing plan. However, there are non-monetary ideas that would help increase the quality of WHB&D's work and the quality of employee satisfaction. To help this company improve their compensation package, you need to review your original package. WHB&D is a small company run primarily by older employees. One day the father will retire and his son will take over the accounting firm. The first thing the company should do is offer wages at or above the competitive rate. This is when employees begin to feel stagnant and underpaid. Not only are the current employees dissatisfied, but the four partners are having difficulty filling the two positions that have become available. WHB&D pays well below the standard competitive amount. Young, industrious candidates are not attracted to their jobs because they see no room for growth. For those who are looking for their first job in their industry it would seem like the perfect job. However, the partners don't want someone inexperienced, they basically want accountants to do the accounting on an accountant's salary. Many of the accountants did not go to college or just earned a bachelor's degree in accounting. Certified public accountants have passed a rigorous test and put in hours of work to receive their title. Salaries... half paper... younger employees benefit from insurance because many are planning to have children in the near future. One of the biggest problems that the accounting firm has is that they do not pay the competitive salary for what is expected of staff accountants. The company is losing many potential job candidates with the salaries it offers. In order to create longevity for the company, the entire compensation package needs to be analyzed and restructured. WHB&D would benefit from compensation restructuring because it would help increase the likelihood of obtaining high-quality new hires. It can no longer only work for the employees who currently work there, you need to create goals for what the future of the company will look like. However, the compensation package offered at this time and the lack of overtime pay is creating animosity between accountants and partners.