The Significance of Employee Benefits Term Paper by scribbler
The Significance of Employee Benefits
A discussion on the elements of a good employee benefit program and its significance for both employer and employee.
# 152517
| 1,778 words
| 7 sources
| APA
| 2013
| 
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Description:
The paper discusses the required and optional benefits for employers to provide and lists the most common employee benefits offered by companies. The paper explains the new developments and revisions to existing programs that have begun to occur because of shifts in the workforce demographics, new legislation, and the increasing cost of medical care, and discusses how the better the benefits package, the greater the talent a company can attract and eventually retain. The paper points out that workers expect the basic benefits such as health care, paid time off and retirement programs, but little perks such as free parking can often mean more to employees that the more significant financial compensation.
From the Paper:
"It's important to be aware of just how significant a viable benefits package can be in employing the best employees possible. The days when salary in and of itself was enough to entice people to come to work are gone. Competitive organizations, whether they are big or small, with benefits programs will be able to attract employees away especially if their current employers doesn't provide the most fundamental programs such as health care, disability insurance and things like that. One way to provide a winning benefits program is to find out what employees need and want. It's feasible that employer sponsored or free parking could be more important to employees than life insurance. A company should go to their employees and find out what they want. They should be given a list of a dozen or so things that they can choose, and leave them room to fill in things (Collins, n.d.)."Once a company has arrived at a plan that suits both them and their employees, they need to let the workers know about it. People need to know that the company is spending money on these things. They need to understand that and know that it is a benefit for them even if they choose not to partake in it. Experts recommend taking this point of awareness a step further and making available an itemized list of benefits. This way, the employees will know just what they're getting and what you've spent on them (Collins, n.d.)"
Sample of Sources Used:
- Bobinski, Dan. (2004). Perks can keep employees happy. Retrieved June 17, 2010, from Management Issues Web site: http://www.management- issues.com/2006/5/25/opinion/perks-can-keep-employees-happy.asp
- Collins, Michelle. (n.d.). The benefits of employee benefits. Retrieved June 17, 2010, from Microsoft Small Business Center Web site: http://www.microsoft.com/smallbusiness/resources/management/pay-benefits/the- benefits-of-employee-benefits.aspx#Thebenefitsofemployeebenefits
- Employee Benefits. (2010). Retrieved June 17, 2010, from Business Web site: http://www.business.gov/business-law/employment/employee-benefits/
- Sharpe, Frances. (2010). Guide to Offering Employee Benefits. Retrieved June 17, 2010, from Work Web site: http://www.work.com/offering-employee-benefits-777
- Sharpe, Frances. (2010). Guide to Offering Employee Benefits. Retrieved June 17, 2010, from Work Web site: http://www.work.com/offering-employee-benefits-777
Cite this Term Paper:
APA Format
The Significance of Employee Benefits (2013, March 04)
Retrieved December 05, 2023, from https://www.academon.com/term-paper/the-significance-of-employee-benefits-152517/
MLA Format
"The Significance of Employee Benefits" 04 March 2013.
Web. 05 December. 2023. <https://www.academon.com/term-paper/the-significance-of-employee-benefits-152517/>