Benefits And Benefits Of Packages For Employees

Butcher, D. (2008, November 13). 5 Strategies for managing employees after layoffs. Industry market trends. Industry market trends rss. Retrieved from http://news.thomasnet.com/IMT/2008/11/13/5-strategies-for-employers-managing-surviving-employees-after-layoffs/

In the case presented both AFLAC and L.L. Bean had their own distinctive ways of utilizing their products in order to enhance the total compensation for its employees. The factor that has deterred more employees away from their current employer is that of benefit packages, and reward systems. As stated by () “compensation affects a person economically, sociologically, and psychologically. For this reason, mishandling compensation issues is likely to have a strong negative impact on employees and, ultimately, on the firm’s performance” (p.313). Many felt just a bump in pay wasn’t enough to substantiate their hard work or the efforts that the performance efforts provided to their organization. As stated by () “the right total rewards system a blend of monetary and non-monetary

The employee total compensation program in Aflac is competitive with the industry market for the employees (Reed, 2009, p. 3). First, the company has a program referred to as a “Total rewards program” for the employees of this organization (p. 3). Next, the focus of the Aflac organization derives from the importance of employees through communication (p. 3). To illustrate, the company’s benefits include compensation, such as life insurance paid for by Aflac, policy for cancer paid for by Aflac, insurance for protecting accidents at a low premium for employees, and programs that provides bonuses based on profit-sharing (pp. 4,6). In addition, the organization provides a

First, employees who leave voluntarily are less likely to sue over their separation and more likely to sign a release in exchange for severance, assuming that it’s offered. Some disgruntled former employees may claim constructive discharge that they were forced out. But that is an uphill climb for plaintiffs under any statue or theory. If the plaintiff signed a valid release of all claims then the employer can raise that defense in a pretrial motion that should end the case at that early stage.

employee leaves the company, it is up to the employer to determine whether or not

Comp time should be granted to exempt employees as they are not entitled to overtime. An employer may reason that exempt employees are under more stress and therefore entitled to more vacation time (Benefit Package Differences for Exempt and Non-Exempt, 2010). The compensation package should comply with federal and state rules and regulations for exempt workers. The total compensation package should operate inside the organization’s budget and financial resources. The compensation package developed should be consistent, and at the same time very accommodating. It should be flexible enough to adapt to the current trends and

In the case of Jeanette she should receive a very lucrative severance package because of the errors that have been found in the disciplinary escalation process. To this end, it is clear that Jeanette should also get an extension on her health care outside of the cobra plan and it should be paid by the company for 6 months. The severance package should give her a total of 6 months of wages to help her get through this rough time of relocation. Jeanette should be offered a placement plan that will help her attain new employment and the company should pay for this service. In the article, “Decent Termination: A Moral Case for Severance Pay” the author explains that “morality demands that employers respect the dignity of those whose employment

Most employers choose to terminate employment immediately and offer a severance package instead. This package is actually your employer paying damages to you for their failure to provide you with sufficient notice!

Some employers choose to offer their employees a severance pay for employees that are terminated voluntary or involuntary. Although there are many reasons for offering a severance the main reasons for offering a severance package are to soften the blow of an involuntary termination and to avoid future lawsuits by having the employee sign a release in exchange for the severance (SHRM, 2012). It is highly unlikely that a company would offer a severance package to someone who is terminated for poor performance such as the case for Jeanette. As such, In the event of Jeanette’s termination, I would not recommend a severance package or benefits for Jeanette extending past the date of her employment. Severance packages are based on several

According to the U.S. Equal Employment Opportunity Commission, a severance agreement is a type of contract between you and your employee, which stipulates the terms of his or her termination. Essentially, these types of agreements are a type of release. The worker signs the contract, agreeing that he or she will not take legal action against you or your company. In exchange, you provide him or her certain benefits.

There are different kinds of support an organization can provide to employees identified as laid off. Organizations can offer severance pay, early retirement, relocation, counseling, or different opportunities that are available to help assist an employee in their endeavors. Severance pay can be set in a few different ways depending on the employee time with the company. As a result, if the laid off employee does chose severance pay the employer makes documentation in lieu of any legal allegations for future reference (Fallon & McConnell, n.d.). Some organizations offer early retirement incentives to some of their laid off employees', but it can become problematic. In other words, if the early retirement incentives is only going to the elderly

Brian Reed was working a job at a roller bearing company. After a 24 year career at the company, he was devastated when he was going to have to tell his daughter he couldn’t pay for her tuition. His job was moving from Indianapolis home to a city in Mexico. Since he has lost his job he has been bouncing around from small job to job trying to find a steady one to support his family and pay for his daughter's tuition. Reed doesn't know what he will do next. Applying for a different job will mean he loses his severance package which is six months pay and health care plus a $1,500 exit “bonus” if he stays until the plant closes this spring.

Although research generally confirms that pay-for-performance plans can influence greater outcomes, it is unclear how effective different pay plans are relative to each other (Park, 2012). Like most things in business, compensation is something that requires evaluation, study, assessment, strategy, modeling and integration.  Achieving a pay for performance culture does not happen without paying attention to the behaviors, activities, rewards and motivations that have to be linked and reinforced through a well engineered and successfully executed process.  Actually if that process does not tie rewards to shareholder financial objectives, employ the proper mix of compensation elements, result in meaningful dollars, embrace performance that employees can impact and are effectively communicated and reinforced, then the results it produces will likely fall short (Vision Link Advisory Group, 2013).

The problem that I am contacting you about involves out current employees’ wages. I have been noted within the past couple of months that out employees have not received any additional money in the past couple of years. I would likely to work on this problem in order to find secure funding through an appropriate grant proposal that would help resolve the problem. Overall, not giving out employees an appropriate working wage will result in a couple of different outcomes. Starting with the general unhappiness of the employees. Which could lead to employees leaving the company and traveling to other companies. Next, could be unions and employees going on strike against the company.

The organization for which I am designing the compensation package is a company that offers internet solution to customers in the domestic US market and the global market. The position that I am hiring is that of a company secretary. The secretary will be required to work in the office of the human resource manager and will handle all the papered and paperless documentation. The position comes with numerous benefits and packages as outlined herein.