HRM 500 Assignment 4 Essay

1549 WordsJan 21, 20157 Pages
Recognizing Employee Contributions Erica Warren HRM500, Strayer University Dr. Jeffrey Weaver 12/7/2014 Recognizing Employee Contributions Employees deserve recognition for their hard work, creative ideas and commitment to the company. “Employee recognition is the timely, informal or formal acknowledgement of a person’s or teams behavior, effort or business result that supports the organization’s goals and values, and which has clearly been beyond normal expectations” (Wiley & Kowske, 2012). It is important to show employees your appreciation for their work so they can understand how they are valued by the company. The effect of this action helps to increase employee satisfaction and productivity. Rewarding employees…show more content…
None of these benefits should discriminate against any of the employees based on their age, race, sex, or disability. Lastly the accounting requirements for benefits entails, ensuring that the proper amount of funds are set aside to finance benefits for the organization. For reporting standards these funds must be represented as future cost. There is also a mandatory set of requirements for benefits that must be offered to a company’s employees. Some of the benefits have a stipulation that employees receiving this benefits work at least full time. Also certain benefits will not be offered to employees if the staff is under 50 people These particular benefits include social security benefits, unemployment insurance, workers compensation, unpaid family and medical leave, and over time.“ Recommend at least three additional benefits that the organization should consider providing to its employees. Suggest at least two important concepts that a company must consider when designing benefit plans. Provide a rationale for your response. “In today’s modern world, a respectable salary isn’t enough to retain valuable employees over the long term” (Yanadori & Cui, 2013). It is important for companies to have benefits in place that meets the needs of current employees as well as attract new ones. Since we are a retail company it would be beneficial to offer current employees the benefit of discounts on company’s merchandise. Also
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