Managing Employee Benefits

Paper Summary:

This paper examines how one company, a large daily newspaper, has tried to strike a benefits system that is simple enough to manage and yet flexible enough to meet the needs of its employees.

From the Paper:

"The pay or salary that a job offers has for centuries been the most important benefit offered to employees. The reason for this is in part historical: In the 19th century a salary was in most cases the only benefit that was offered. Moreover, salaries are clear-cut: They are easy for the worker to calculate and to compare whereas other benefits " such as a promise of promotion if a position opens up " are far less tangible and far harder to calculate the worth of. Finally, it is important to acknowledge that the relationship that exists between any employer and his or her worker is at the most fundamental level an economic one. While an employee may get any number of rewards from a job, the reason that one takes a job is an economic one: If one did not need the money one would undertake the same work as a volunteer or as a hobbyist. And because money lies at the heart of the relationship between worker and employer the question of salary must be central as well."

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