Review of Comparable Construction Companies in Arizona
A review of comparable construction companies in Arizona, comparative salaries must be offered to laborers and managers. An average salary for a construction supervisor $37,000 per year, this average is 14% lower than average (“Salary by State”, 2015). A competitive benefits package should be offered to compensate for the lower than average wages. Sundt, an established construction company and fierce competitor, shows an impressive benefits package for employees. Offering a generous wage and benefit package, Sundt offers employees an Employee Stock Ownership Plan for employees who have at least 1.000 hours of service during their first year, a 401 (k) for employees to save for retirement (“Working at Sundt”, 2015). Benefits also include health/vision and prescription, PTO, employee discount program, and tuition reimbursement. For Clapton Commercial Construction to be competitive with companies like Sundt, a highly competitive benefits package and wage structure is imperative to compete in the construction industry in Arizona.
Clapton expects $10,000,000 with a growth rate of -3%, benefits and compensation must fit within budget. To retain and motivate employees, Clapton should base compensation on experience level and position within the company. Positions will receive compensation that is within the market standard for Arizona, as employees gain experience and knowledge, pay increases will happen yearly; as well as a bonus if Clapton meets or exceeds company goals. Keeping employees focused on company goals and helping achieve these goals, a bonus will encourage employees to work harder, and assist with reaching departmental and company goals.Salary by State. (2015). Retrieved from