Benefits And Benefits Of Employee Benefits Essay

1422 WordsNov 17, 20166 Pages
Believe it or not, when the phrase employee benefits is mentioned there are many different perspectives from various angles as to what exactly employee benefits entail. Some perspectives are, but not limited to, what is deemed an employee benefit, what benefits are required by law to be given to employees, benefits that employees might feel are superior, and whether or not benefits provide value to the employer. For clarification purposes Alison Doyle offers this, “Employee benefits are non-salary compensation that can vary from company to company. Benefits are indirect and non-cash payments within a compensation package. They are provided by organizations in addition to salary to create a competitive package for the potential employee.” (Doyle, 2016, para. 3). Essentially, this can be taken to mean that employee benefits may be in the form of monetary compensation or still compensation, but without monetary payment to the employee. Examples of employee benefits include, competitive compensation plans, pay for performance packages, flexible work hours policies, and medical leave, which is illustrated in the following scenarios. As an illustration of what some individuals might deem one of the most important components of employee benefits, surround the need to revamp a compensation plan for a franchised restaurant establishment. Paying employees fairly for the service provided is very important in a business’s ability to remain competitive. To yield this result a business
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