Essay On Equipment And Service Sector

Employee Benefits: The Company should consider and perform a cost benefit analysis for offering better benefits for employees.

An employee can help reduce the cost of health cost by doing several things. There has been an outcry from organizations due to the rising number of competitors with high expenses catering for health benefits during employment periods and on retiring. The employee can be of great help by being participative in the programs set by their employers to benefit more from other advantages far from health costs (Kerzner, 2013). Some of the choices an employee may consider to help control health costs are by boosting consumerism, use technology to manage benefits, and indulge in fitness and health programs.

The oil and gas industry is a large Industry and contributes a critical role in driving the global economy (Sam’s et. al., 2006).The upstream section of the Industry is involved with the first stage of exploration and production, the midstream section involves the transportation of crude through pipelines, ships e.t.c to the refineries. The downstream is involved with refining and process of the oil and gas products. The distribution and marketing of crude is then done for end user consumption. For purpose of this report the analysis shall be on oil and gas operations with emphasis in the United Kingdom. According to (Oil and gas UK,

Industrial Equipment INC. sold and serviced a variety of industrial equipment and related products to hospitals, nursing homes, hotels, motels and various other organizations in the four Atlantic Canadian provinces of New Brunswick, Nova Scotia, PEI and Newfoundland/Labrador. In addition to distributing a broad line of specialized equipment IE provided design, specification and planning assistance to architects,

In 2013, the sporting goods retailer entered into a partnership with the respected Los Angeles Lakers franchise becoming the NBA basketball team’s official sporting goods retailer to increase interest in the corporation and its presence within the Lakers’ regional market. Moreover, the Big 5 Sporting Goods is highly involved in offering monetary donations and discounts to local youth athletic organizations in accordance with the retailer’s mantra as being a “convenient neighborhood sporting goods retailer that consistently delivers on value.” (2016, BGFV

The Standards. So what about the benefits that employees need to keep healthy and happy outside of work. The unique benefits gave us a view into the relationship the company likes to have with their people, but included with those are the standard benefits you see in most companies just with a little extra added. When you think about medical in most companies you have to pay some kind of co-pay for your medical insurance. With this company 100% of your medical bills are covered within their health-care premiums. Sometimes our medical problems are not so serious and here is where they decided to add Chiropractic, Acupuncture and Naturopathic services along with Wellness Reimbursement to the list of medical

Employees dedicate a huge part of their time working for a company. A typical full time employee that works 40 hours a week spends about 200 hours per month only at work. This is not including time spent on driving to work and back home. More importantly employees are also valuable asset to the companies; they bring in skills, experience and get the job done. Therefore as forms of payment other than monetary compensations companies offer a variety of benefits intended to help promote financial security and raise living standards. Some of these benefits are statuary and some are voluntary. Mandatory benefits include Social Security, unemployment, insurance, worker’s compensation and family and medical leave. Most benefits such as pensions

Benefit packages particularly one that offers great medical coverage (including dental and vision), help retain and attract great talent. Alan can get JSH a tax advantage of deducting plan contributions which can include health insurance, life insurance, and retirement plans. Rather than making a higher salary offering, Alan can offer a good benefits package which ultimately create saving for the company. With the company being relatively small the owners can take advantage of the benefits package themselves instead of having to have privately own insurance. Offering medical coverage has been appeared to decline non-appearance and enhance the morale and wellbeing of the employees.

Benefits are a major component of an organization’s total rewards strategy. A flexible and rewarding benefits package can assist an organization with attracting and retaining talented employees. Whereas most benefits offered by organizations are optional, some benefits are mandatory (Lussier & Hendon, 2016). One of the responsibilities of the U.S. Department of Labor (DOL) is to ensure that organizations are offering mandatory benefits and complying with benefits regulations. The DOL maintains a “Health Plan and Benefits” website that specifies health plan and benefits regulations and federal involvement in employee benefits. This paper will examine and review the website. First, the paper

The approach used by the company follows the basic fundaments of a solid benefit package in its quest to attract the right employees, while maintaining them (Gomez-Mejia, Balkin, & Cardy, 2012).

With an Economics degree you are highly desirable, to companies that deal in finance, banking, data analysis, business, and trending.

Employees also look forward for a good benefits package; in fact employees have grown accustomed to generous benefits programs, and join an organization expecting them. Employee benefits exist in organizations all around the world and the levels and range of these benefits vary between countries. Some of the benefits companies offer can be like company accommodation, company provided vehicles, health insurance, retirement benefits, easy loans, travel benefits, workplace flexibility, work-time flexibility and so on. (SHRM, 2011)

For its employees, Long term employment recognition and benefits like Pension Plans, Group Medical Policy, Accident Policy, Bonus, Annual Medical Check-ups, Budgets for quarterly team lunch, Annual outings as part of team building activities and flexible work hours. In addition to the above mentioned benefits, Managers and employees above in the hierarchy level also get these additional benefits – Large salaries, Company vehicle with fuel and driver charges,

As someone who is gainfully employed and currently benefits from the compensation and benefit packages offered by my employer, I feel it is necessary for me to evaluate how critical it is for an organization to provide their employees with benefits and compensations. To learn more about benefits and compensations, including ways it factors into a company’s success or reputation; I will evaluate and compare two organizations, examine commonalties and differences in both organizations benefit packages, and provide my selection based on my research.

Employees’ benefit plan is non-wage compensation, which means employees sacrifice part of their wages or salaries to exchange some other form of benefits. The purpose of benefit plans is to increase the security of employees, which consequently reduces work absenteeism and promotes job satisfaction. Some of the benefits in the plan include: retirement benefit plans, employee assistance plans, and group insurance (health, dental, life etc.). However, the scope of benefit coverage has gradually been expanded; from traditional benefit plans to flexible benefit plans. Both of these two benefit plans have different contents and emphases. Nowadays, about 60 percent of North American organizations prefer to use flexible benefit plans.