Professional Documents
Culture Documents
BUSINESS
PLAN
SQUASH ON FIRE
MEMBERS:
ALEJANDRO, JENNIEROSE
BAYANG, DIANA ROSE
BOALOY, STEPHANIE
CABACUNGAN, MARIVIC
GUILLERMO, ROZHELLE MAE
JUAN, VALERIE JOY A.
BSHM 4B
CHAPTER I
EXECUTIVE SUMMARY
The business will become known worldwide, at first the target market are
within Laoag City but as times goes by the target market are increasing for the
reason that the proponent also ought to make a small braches within the country
for them to easily gain profit and gain customers. They assure that their customers
and potential customers will patronized their product which is Squash Chicharon
together with its different flavors and sizes for its affordable price. Since, most of
Filipinos loves chicharon yet it is not nutritious so the proponents came up with
this innovative product by using squash as a main ingredients for their chicharon.
Through their product, they expect that the case of having cardiovascular diseases,
diabetes, obesity and other diseases or disorder are decreasing with the help of
their product, they also expect that their business will have varieties of product not
only Squash Chicharon.
The Squash on Fire has a mission to provide and maintain a high-quality
standard on the products that they serve and be able to ensure a friendly and
comfortable ambiance not only for their consumers but also for their employees.
And a vision to be able to expand their business and offer their products to a larger
market. Along with the proponent’s mission and vision, the business have a tagline
which is “The Only Nutritious Chicharon”. Which support one of their main goal
which is to provide satisfaction for a group of people to food trip or a place where
tourist could spend their time to rest or to fulfill their hunger after a long day of
touring around Laoag. Squash on Fire is a business based in Laoag City, Ilocos
Norte. The current product line offered different flavor of Squash Chicharon like
Classic, Barbeque, Cheese, Spicy, Classic, Garlic, and Sweet and Sour. Every-day
they would do quality checks on their supplies especially those that are perishable.
The beverages well offer are always made upon order and some of the ingredients
like the Squash would be checks daily to ensure the freshness and the quality of
the products that they are serving.
Many people commit to starting a business with the dream of financial
comfort. While it’s true that getting the company off the ground can take gift and
result in some lean times while they are getting started, the ultimate goal of being
the own boss is cultivating financial independence. With determination and hard
work, there’s no cap on how lucrative the own business can be. If you aspire to
build wealth, there’s no reason why they can’t achieve that goal. Starting their own
business has several financial benefits over working for a wage or salary. First they
are building an enterprise that has the potential for growth and their wallet grows
as the company does. Second, the business grows, it’s worth more and more. They
may decide to sell it or they may had on to it and pass it down to your business.
Many hospitality degree courses offer an industrial placement for a year,
enabling them to put their academic learning into practice. This experience
provides employers with evidence of their skills and motivation, and helps them
develop contact within the sector. They also get a feel for which areas of the sector
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
they are particularly interested in. The hospitality sector offers good prospects for
willingness and ability to learn. They can gain experience of supervising and
training new staff early on in their business.
CHAPTER II
THE FIRM
BUSINESS NAME:
Squash on Fire
The proponents came up with this business name for the reason that they
are offering a squash that made them into a snack. Squash on Fire means the
pumpkin or the squash go through the process where it needs to dried, boil and fry
with the use of a fire or heat of the sun.
LOCATION:
The location of the proponent’s business is within Laoag City specifically at
Bonifacio, Brgy. 14, Laoag City, Ilocos Norte, Philippines. It is between Sinking Bell
Tower and Hyper Market. Many tourists are visiting Laoag City’s main tourist
attraction which is the Sinking Bell Tower. Laoag City is their target location, they
prefer Laoag City because there are more potential customers and customers
within the city unlike the other municipalities.
BUSINESS STRUCTURE:
Corporation
They prefer corporation as their organization structure for the reason that a
corporation can make a profit, be taxed, and be held legally liable. A corporation
offers owners the strongest protection against personal liability. Aside from that,
corporation also had an advantages including limited personal liability, ease of
ownership transfer, business continuity, greater access to capital, and occasional
tax benefits. The business that is from the owner itself with the help of its
employee: packaging man, manager, cashier, delivery man and cook. The business
is corporation for the reason that they don’t need a partnership to run a business.
Only the owner, shareholders and it’s employee are the one who maintaining the
business.
BUSINESS UNIQUE:
The business is unique for the reason that almost chicharon in the country
are made out of pork but in their business they used squash to make their product
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
healthier than the product of their competitors. Chicharon are known as one of the
main cause of heart disease and it can also raise our cholesterol, they came up
with this chicharon with a main ingredients of squash to lessen the case of heart
disease in our country.
FEASIBLE
It is feasible because the ingredients are accessible, possible to do, easily
and it’s convenient if they have enough time, money or energy to do something.
This product is also salable and customer-friendly for the reason that chicharon is
one of the favorite snack of Filipinos and aside from market growth the business
can sell to the different stores within the city due to delivery and being an supplier
of the Squash Chicharon.
VISION
Squash on Fire aims to be organized as the leading Squash Chicharon in the
Philippines that provides not only consistent quality services but also excellent
products and facilities for our beloved customers.
MISSION
We, the Squash on Fire Team aim to inspire the customers to enjoy a
squash chicharon experience by providing them a high quality squash chicharon
and consistent service that will leave a lasting impression.
OBJECTIVES:
To serve a clean and well sanitize food and place by applying the 5s in
food safety.
To give smile to the face of their beloved customers while they are
enjoying their food.
To be able to make the price of Squash Chicharon affordable for every
customers.
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
CHAPTER III
ORGANIZATIONAL STRUCTURE
ORGANIZATIONAL CHART
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
OWNER
MANAGER
DELIVERY PACKAGIN
COOK 1 CASHIER 1
MAN 1 G MAN 1
DELIVERY PACKAGIN
COOK 2 CASHIER 2
MAN 2 G MAN 2
1. OWNER
KEY ACCOUNTABILITY
- Responsible for the growth, stability, direction and daily operation
of the business.
- Responsible for the meeting with service vendors or products
supplier to facilitate.
PERSON SPECIFICATION
- Excellent in communication skill
- Use of software or programmers or team management
QUALIFICATION & EXPERIENCE
- Ability to prioritize and management
- Degree holder in business management
EXPERIENCE
- Excellent in writing, reading and analytic skill
- An eye for detail and the ability to see when thins need to fixed or
changed
2. MANAGER
KEY ACCOUNTABILITY
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
COMPETENCIES
- Strong organization skill to give the team direction
- Be good in problem solving
3. CASHIER
KEY ACCOUNTABILITY
- Able to listen when customer have problems.
- Handle cash and process the transaction
PERSON SPECIFICATION
- Know how to maintain vending cash control
- Good communication and interacting with customers
COMPENTECIES
- Basic math skill
- Ability to make change
4. DELIVERY MAN
KEY ACCOUNTABILITY
- Responsible for transporting package and other goods from business
address
- Inspect and ensure the safety of the product.
PERSON SPECIFICATION
- Have a Time Management
- Reviewing orders before and after delivery to ensure that orders are
complete.
COMPENTENCIES
- Highly responsible and reliable
- Familiarity with local street, neighborhood and routes.
5. COOK/COOKER
KEY ACCOUNTABILITY
- Attends to the detail and presentation of each order.
- Prepares all the ingredients
PERSON SPECIFICATION
- Setting up menu’s and recipes.
- Preparing highly quality dishes.
COMPENTENCIES
- Know how to cook
- Easy to memorize ingredients/recipe.
6. PACKAGING MAN
KEY ACCOUNTABILITY
- ability to operate
- ability to work in a fast paced, high stress environment for long hours.
PERSON SPECIFICATION
- Excellent organizational skill
- In-depth knowledge of packaging and shipping procedures
COMPETENCIES
- Time Management
- Hardworking was
• The employee will receive their wages/salary every two weeks on the 15th
and end of the month.
- To reduce time spent or payroll processing.
JOB QUALIFICATION
Routine Schedules
CHAPTER IV
THE MARKETING ASPECT
A. PRODUCTS/SERVICES
Korean and
spicy Filipino’s
flavour. that are
spicy lover,
especially
those
Korean they
won’t miss
the spicy
food in their
country.
CLASSIC The feature The benefits It is unique It meet the needs of
FLAVOR of the of this because of its the customer
product is product to squash flavour especially those
the tasted the and it taste vegetarian and diet
the original customer is like fried people.
flavour of it is healthy squash.
the and
chicharon nutritious
which is to exit.
squash.
GARLIC The features The benefits The garlic It meet the needs of
FLAVOR of garlic a garlic flavour has a the customers
flavour has flavour pungent, spicy especially these
a distinctive contains and salty taste customers likes garlic
aroma. antioxidants in its raw flavour.
that can form. Its
help protect uniqueness
against cell might find
damage and challenging to
aging. explain the
Garlic is the taste in words.
most main
ingredients
that gives
them a
nutritional
punch and
adds
wonderful
flavour to
many
recipes.
SWEET The features The benefits It is unique for This product meet the
AND SOUR of sweet and of sweet and the reason needs of the customer
sour flavour sour flavour that sweet and due to its flavour.
has mixture especially to sour is aware Filipinos like sweet
of sugar, their target chicharon here and sour flavour
vinegar and market is in the that’s why they are
spies with the unique Philippines. sure that this product
the addition flavour of meet the wants of our
of fruit juice this customers.
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
like product. It
pineapple. also has a
benefit for
the owner
because it
can
increase the
market
growth due
to its
uniqueness.
B. PRICING STRATEGY
To ensure profit, the business will use cost-plus pricing as its pricing
strategy. The partners decided to have a mark-up price of 50% of the unit
cost of the product. The computation of the price for every product that
the business offers in show in the table.
C. TARGET MARKETS
The main target of Squash on Fire focus on students, working
men/women, squash and chicharon lovers, foodies and nearby the area
and also individual travelers, local and international tourist, who wants
to taste new and healthy chicharon and experience the old Filipino home
ambiance. The target market of this proposed business is from the ages
15 to 59 years old which they have an idea what is the concept of our
business and also, they have the capability to purchase the food that our
business offering to them. Squash on Fire bring emphasis on the food
they serve to customers. The business embodies a Filipino culture and
practices it.
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
D. PROMOTIONAL STRATEGY
The proponents use the power of social media in their promotional
strategy because social media marketing is a great way to share our
promotional content.
Luckily, they can use a few social media platforms. They create a
Facebook page and Instagram to spread products that they offer and to
inform or updates people if they have an announcement about business.
E. SWOT ANALYSIS
Strength
- Competitive price and new product strategies
- Quick response to customer demands
- Inimitable concepts
- High customer loyalty
Weaknesses
- New set-up
- New in the market
- Not well known
Opportunities
Threats
CHAPTER V
TECHNICAL ASPECT
1. Drying Rack
Specification:
Brand, SKU
Cost: Php.2,340.10
2. Labeling Machine
Product Specifications:
Product Type Labeling Machine
Application Industrial
Drive Type Electric
Power Source Electric
Cost: Php.583,040.59
3. Deep Fryer
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
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5. Steamer
Manufacturer: Secura
Color: Stainless Steel
Capacity: 8.5 quartz
Cost: Php.1,042.00
6. Refrigerator
7. Stand Mixer
9. Exhaust Fan
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
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10.Condiment Container
11. Knives
Material: Wood
Shape: Rectangular
Features: Set
Cost: Php. 200.00
Model; 6001075
Manufacturer; Pyrex
Cost: Php.500.00
Material: Wood
SKU: 2008755354_PH-8829800010
Cost: Php.105.00
16. Casserole
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
Brand: No Brand
SKU: 3300880641_PH-16722550417
Cost: Php.250.00
Deep Fryer - a kitchen appliance used for deep frying. Deep frying is
a method of cooking by submerging food into oil at high heat, typically
between temperatures of 350 to 375 °F (177 to 191 °C).
Stainless Steel Table - A stainless steel work table can be used for
many purposes, including preparing food or cutting meats.
Exhaust Fan – Exhaust fans pull odors, fumes, and moisture from an
area of the home, venting them outdoors for removal. The fan uses a
motor to turn its blades, which function to pull air out of the space.
Rolling Pin - This is a long, thin cylinder used to flatten dough into
sheets, rolling it out on a wooden or marble board. It has two handles
on the side, making it easier to use. It can be made of wood or plastic.
Gas Range - a stove and oven that use natural gas as a fuel source.
B. Supplies
Supplier: Harbest Agribusiness Corporation
Main Office: 5 Rose Marie Lane, Pasig, 1603 Metro Manila
Website: https://www.harbest.com.ph/
Packaging Supplies
1. Stand Up Pouch
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
Model Type : 3D
Size: 165 cm
Cost: Php.199.00
Office Supplies
1. Ceiling Fan
2. Calculator
3. Ballpen
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4. Record Book
5. Fire Extinguisher
6. Stick Note
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
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7. Fax Machine
8. Stapler
Brand: HBW
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
Cost: Php.100.00
9. Tape Dispenser
Brand: Joy
Cost: Php.165.00
Ballpen – pen that has a small metal balls as the point of transfer of ink to
paper.
Record Book – a book that has records of the best or most remarkable
performance. You can also use it for inventories.
Sticky Notes – a slip of notepaper having an adhesive strip on the back that
allows attachment to and removal from a surface.
Fax Machine - device that sends and receives printed pages or images over
telephone lines by digitizing the material with an internal optical scanner
and transmitting the information as electronic signals.
Tape Dispenser - devices which hold, dispense and cut tape. They are
designed to help make tape dispensing quick and easy, especially for
applications where tape is used regularly. Tape dispensers help to increase
efficiency and reduce tape waste.
1. Table
2. Swivel Chair
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
3. Cabinet
Brand: Qube
Cost: Php 1,999.00
4. Filing Cabinet
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
Brand: Decora
Cost: Php.10,999.00
5. Vault Cabinet
Fire Resistant
Cost: Php.11,500.00
Table - a piece of furniture with a flat top and one or more legs, providing a
level surface on which objects may be placed, and that can be used for such
purposes as eating, writing, working, or playing games.
Swivel Chair – a chair with a seat able to be turned on its base to face in
any direction.
Filing Cabinet – a piece of office furniture, typically made of steel, with deep
drawers for storing documents.
CHAPTER VI
FINANCIAL ASPECT
PROJECTED SALES
DAILY SALES
MONTHLY SALES
YEARLY SALES
SQUASH ON FIRE
STATEMENT OF FINANCIAL POSITION
FOR THE MONTH ENDED DECEMBER 31, 2022
ASSETS
CURRENT ASSET
CASH ON HAND ₱ 470,000.00
SUPPLIES AND INVENTORIES ₱ 31,927.00
TOTAL CURRENT ASSET ₱ 501,927.00
NON CURRENT ASSET
MACHINERIES AND EQUIPMENT ₱ 723,869.00
FURNITURE AND FIXTURE ₱ 29,896.00
PRE-OPERATING
LEGAL REQUIREMENTS ₱ 5,000.00
RENOVATION ₱ 500,000.00
TOTAL NON-CURRENT ASSET ₱1,258,765.00
TOTAL ASSET ₱ 1,760,692.00
LIABILITIES 0
TOTAL LIABILITIES 0
OWNER’S EQUITY CAPITAL
JENNIEROSE ALEJANDRO ₱ 1,000,000.00
DIANA ROSE BAYANG ₱ 500,000.00
STEPHANIE BOALOY ₱ 5,000.00
MARIVIC CABACUNGAN ₱ 25,000.00
ROZHELLE MAE GUILLERMO ₱ 100,000.00
VALERIE JOY A. JUAN ₱ 130,692.00
TOTAL LIABILITIES AND OWNERS EQUITY: ₱ 1,760,692.00
DEPRECIATION
USEFUL
TY
USE
MACHINERIES & EQUIPMENT
DRYING RACK 1 ₱ 2,340.10 ₱ 2,340.10 7 YEARS ₱ 334.30
LABELING
MACHINE 1 ₱ 583,040.59 ₱ 583,040.59 10 YEARS ₱ 58,304.06
DEEP FLYER 1 ₱ 10,380.00 ₱ 10,380.00 3 YEARS ₱ 3,460.00
MULTI-
FUNCTIONAL 1 ₱ 50,000.00 ₱ 50,000.00 5 YEARS ₱ 10,000.00
PEELING MACHINE
STEAMER 5 ₱ 1,042.00 ₱ 5,210.00 2 YEARS ₱ 2,605.00
REFRIGERAT
OR 1 ₱ 10,568.00 ₱ 10,568.00 5 YEARS ₱ 2,113.60
STAND MIXER 3 ₱ 1,699.00 ₱ 5,097.00 2 YEARS ₱ 2,548.50
STAINLESS
STEEL TABLE 1 ₱ 8,500.00 ₱ 8,500.00 5 YEARS ₱ 1,700.00
EXHAUST FAN 5 ₱ 5,066.00 ₱ 25,330.00 7 YEARS ₱ 3,618.57
CONDIMENTS
CONTAINER 2 ₱ 250.00 ₱ 500.00 3 YEARS ₱ 166.67
KNIVES 3 ₱ 986.64 ₱ 2,959.92 1 YEARS ₱ 2,959.92
CHOPPING
BOARD 10 ₱ 200.00 ₱ 2,000.00 2 YEARS ₱ 1,000.00
MIXING BOWL 5 ₱ 150.00 ₱ 750.00 1 YEARS ₱ 750.00
MEASURING
GLASS 2 ₱ 500.00 ₱ 1,000.00 2 YEARS ₱ 500.00
ROLLING PIN 10 ₱ 105.00 ₱ 1,050.00 3 YEARS ₱ 350.00
CASEROLE 5 ₱ 328.00 ₱ 1,640.00 1 YEARS ₱ 1,640.00
BAMBOO
TRAY 10 ₱ 250.00 ₱ 2,500.00 4 YEARS ₱ 625.00
GAS RANGE 2 ₱ 40,000.00 ₱ 80,000.00 10 YEARS ₱ 8,000.00
ANNUAL DEPRECIATION ₱ 100,600.63
₱ ₱ 8,495.00
CEILING FAN 5 1,699.00 5 YEARS ₱ 1,699.00
CALCULATOR 2 ₱ 550.00 ₱ 1,100.00 6 YEARS ₱ 183.33
FIX MACHINE 1 ₱ 6,000.00 ₱ 6,000.00 10 YEARS ₱ 600.00
STAPLER 2 ₱ 100.00 ₱ 200.00 3 YEARS ₱ 66.67
TAPE
1 ₱ 165.00 ₱ 165.00 3 YEARS ₱ 55.00
DISPENSER
₱
ANNUAL DEPRECIATION 2,604.00
FURNITURE & FIXTURE
TABLE 1 ₱ 2,999.00 ₱ 2,999.00 5 YEARS ₱ 299.00
SWIVEL ₱ 2,399.00 ₱ 2,399.00 ₱ 479.80
1 5 YEARS
CHAIR
CABINET 1 ₱ 1,999.00 ₱ 1,999.00 5 YEARS ₱ 399.80
FILLING
2 ₱ 10,999.00 ₱ 21,998.00 6 YEARS ₱ 3,666.33
CABINET
VAULT
1 ₱ 11,500.00 ₱ 11,500.00 7 YEARS ₱ 1,642.86
CABUNET
ANNUAL DEPRECIATION ₱ 6,488.69
TOTAL ANNUAL DEPRECIATION ₱ 109,693.32
SQUASH ON FIRE
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 21, 2022
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
REVENUE
SALES ₱ 27,297,000.00
COST OF SALE ₱303,120.00
GROSS PROFIT ₱ 26,993,880.00
OPERATING EXPENSES
UTILITIES ₱ 569,000.00
LABOR COST ₱ 600,000.00
LEGAL FEES/BIR ₱ 56,000.00
CURRENT BILLS ₱ 159,000.00
SSS PREMIUM ₱ 7,000.00
TAXES AND LICENSE EXPENSES ₱ 78,500.00
PAG-IBIG PREMIUM ₱ 9,000.00
PHILHEALTH PREMIUM ₱ 4,000.00
RENOVATION ₱ 500,000.00
MAINTENANCE ₱ 5,000.00
TOTAL OPERATING EXPENSES ₱ 1,987,500.00
INCOME BEFORE DEPRECIATION ₱ 25,006,380.00
DEPRECIATION ₱ 109,693.32
INCOME BEFORE INCOME TAX ₱ 24,896,686.68
TAX 30% ₱ 7,469,006.00
NET INCOME ₱ 17,427,680.68
COST OF SALES
RAW MATERIALS MONTHLY NO. OF MONTHS TOTAL (YEAR 2022)
PUMPKIN/SQUASH ₱ 8,000.00 12 ₱ 96,000.00
CONRSTARCH ₱ 9,450.00 12 ₱ 113,400.00
CHICKEN POWDER ₱ 3,190.00 12 ₱ 38,280.00
GARLIC POWDER ₱ 1,520.00 12 ₱ 18,240.00
SALT ₱ 100.00 12 ₱ 1,200.00
CHEESE POWDER ₱ 625.00 12 ₱ 7,500.00
BBQ POWDER ₱ 550.00 12 ₱ 6,600.00
SWEET & SOUR ₱ 850.00 12 ₱ 10,200.00
POWDER
SPICY POWDER ₱ 975.00 12 ₱ 11,700.00
TOTAL ₱ 303,120.00
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
CHAPTER VII
SOCIO-ECONOMIC ASPECT
GOVERNMENT
Squash on Fire pay a significant portion of all taxes in the country, including
income tax and employment tax. Having more businesses in the local economy can
boost tax income for local government, bring in more money to repair roads,
develop schools and improve public services.
Tax is a vital source of revenue for most governments enabling them to fund
essential services and infrastructure for their citizens. Of course, revenue will not
automatically be used for such social goods.
CONSUMERS
The benefit of their consumers are good sources of vitamins A, B and C, the
product are high in antioxidants and rich in minerals such as potassium,
magnesium and manganese. And, as whole plant foods, it also rich in fiber and
water, making them both hydrating. Aside from these health benefits, the
proponent’s consumers are benefitted through their business by providing them a
delicious and innovative chicharon.
EMPLOYMENT
The benefits of their employees are medical, disability and life insurance:
retirement benefits; paid time off; and fringe benefits. The proponents also provide
to employees over and above salaries and wages. These employee benefit packages
DATA CENTER COLLEGE OF THE PHILIPPINE OF LAOAG CITY INC.
COLLEGE OF HOSPITALITY MANAGEMENT AND TECHNOLOGY
may include overtime medical insurance, location, profit sharing and retirement
benefits.
Offering benefits to their employees is important because it shows them they
are reinvested in not only their overall health but also their future. A solid
employee benefits package can help to attract and retain talent. Benefits can help
them differentiate their business from competitors.