Apple is the most valuable and gigantic technology company that produce high-tech products. Due to large company, there are a large number of employees in the company. Therefore, there is a need to develop the employees to be loyal and increase their level of commitment towards their job career which will lead to the successful performance in the organization. If the company needs to retain the motivated and loyal employees, they will need to provide compensation and benefits package for them.
Compensation can be defined as a payment in the form of salaries, wages and tips to the employees for their contribution to the company. In the research, Apple Company will provide salary ranges for job description, commission-based programs, bonus-based programs and merit-based programs for their employees so that the employees feel that they are valuable resources for the company. These will help the company to ensure that their employees will less likely to leave the job and become even more productive. Compensation also can be divided into base pay and variable pay. Base pay is based on the role played in the company that expertise are required in order to conduct that role while variable pay is based on the performance that perform by the person or how well he will achieve his goals in the company. In the research, Apple Company…show more content… Apple 401K Plan consists of 14 funds which enable participants to gain Fixed Income, US Equity, Foreign Equity and REITs. Apple matches up to 6% of an employee’s eligible pay to Apple 401K Plan. Hereby, Apple has an average participant balance of $36,645 and it leads Apple 401k Plan becomes the top 10% largest plans reviewed by participant count and top 10% largest plans reviewed by assets. By having Apple 401K Plan, Apple’s employees (participants) is able to gain reasonable investment returns from REITs and High Yield