Factors That Consider When Planning Employee Benefit Packages

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Factors to Consider When Planning Employee Benefit Packages The employer-employee relationship is among the most important relationships in any form of businesses today. The employees and their overall performance and efficiency with anything they do at work are the machinery that keeps the business going in excellent shape. Employees are the single most important asset of any company. Most of the time, they are the assets that can be replaced with the most difficulty. Thus, employers and business owners must, at all times, focus on how to take care of the welfare of their subordinates. This particular relationship has always been a give-and-take type. Employees are expected to work at their best performance, while employers make it a point that they are compensated enough. Despite the fact that the basic salary or compensation is the first consideration of any employee when deciding to take the job or to continue with his or her current job or otherwise, there are a lot more factors that could greatly affect the inclination of the employee or a prospect employee to accept or continue the job. Some of these other factors are the nature and degree of difficulty of the job, the physical or monetary distance of the job from home, professional and personal growth in the job place, personal and professional relationships among co-workers and most importantly, the benefits the employee is receiving aside from their basic pay. In this paper, we shall focus on the last of the above
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