Innovations of Employee Benefits Essays

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

Employer-sponsored benefits reflect the culture and business of the organization, and plans should be crafted and selected accordingly. Think about your current (or former) organization's benefit plan. Did it help to improve the quality of your work as well as your personal life? Why or why not? Was it a generous benefits program or were there specific benefits you felt should have been included?

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.

Offer a competitive benefits package that fits your employees’ needs. Providing health insurance, life insurance and a retirement-savings plan is essential in retaining employees and bonuses. But other perks, such as flextime and the option of telecommuting, go a long way to show employees you are willing to accommodate their outside lives.

order to continue achieving these results our company is looking to expand employee benefits by adding

There are a few benefits that employees will expect as standard. These benefits are usually seen as priority and can include pensions, medical, dental and life insurance and. Aside from priority benefits a number of companies need to add extra enticements. These employee benefits can include discretionary bonuses, performance related bonuses, profit sharing, gym memberships. Employers who then go the extra mile above standard employee benefits packages may be looking at some extra loyal employees. Innovative employee benefits are not the normal or standard benefits. They can sometimes be seen as unusual but can actually be very worthwhile. Examples of innovative benefits can include:

Since its onset in 1966, Bostic Colleges, Inc. has provided quality college education to non-traditional students. This could not have been possible without the dedication and hard work of high quality employees. It is with these individuals in mind that Bostic Colleges has decided to revamp its benefit package. The company has thoroughly researched what employees consider to be the most desirable benefits offered by employers and based its new benefit package around this new information. The context of this paper will discuss desirable employee benefits in the Atlanta market as well as the new proposed benefit plan for Bostic Colleges, Inc., both mandated and voluntary.

The right compensation program will depend on the organization’s business strategy and goals. To achieve these, an organization must recruit and select the best possible employees. To attract such employees, there must be an attractive compensation plan. Competitors will be offering different payment options, this may be based on pay rate or special perks, and a company’s stock options. Organizations must be aggressive yet reasonable to compete with competitors. Retaining and encouraging employees to perform at their best may be achieved through an immediate incentive award

Employees are the most important, and often, most costly asset within any organisation. Ensuring they are fully engaged and committed to the success of the business is crucial. Listed below are the activities needed to reinforce the connection employees have with their company, job and colleagues, leading to a more satisfied and motivated workforce.

When an employee must leave, the employer encounters substantial costs in relation to hiring new employees to replace those who have left. Additional costs such as temporary employees can also accrue, when there is an immediate need for replacement, and training for new hires is significant. One way employers are attempting to retain employees is job perks. Employee perception of the benefits they receive can impact how long they stay with a particular employer. According to the Aflac Workforce Report, employee perception of wellness programs can lead to employee retention through job satisfaction and morale (Aflac, 2012).

Chapter conclusion: Benefits for employees are very important for companies. Benefits for employees include various insurance plans, paid vacation days, paid sick leave, paid days off, etc. Different companies need to establish different benefit plans based on their company conditions. In brief, benefit in one of the bridge between employers and employees.

Employee benefits are a tool used by businesses to attract potential applicants, improve employee satisfaction, reduce turnover and maintain competition. Benefits that most employers offer include, but are not limited to, medical and dental coverage, time away from work, retirement, and additional assistance during life changing events. The majority of employers in the United States offer benefits to their employees and include an annual enrollment yearly to select benefits and make any needed changes.

This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. Attached to this paper is a Powerpoint presentation that will detail this employee compensation and benefits package, as well as an the eligibility of exempt or non-exempt status, other benefits that might be considered, government regulations that influence the compensation, two other organizations with similar compensation, and how this package aligns with the HRM strategy.

A great opportunity lay in employee recognition. Employee recognition will be nonfinancial benefits offered to employee. This non-financial benefit allows management to proper recognize and foster employee loyalty as well reinforce positive work behavior and encourage for repeat performance in all areas of the job (Henderson, 2006). Another non-financial benefit for employee is training. Training will allow employee gain additional knowledge and expertise and to be up to date with new technology open opportunity to advance in their career. These non-financial benefits allow management to make sure employees are value. Including employee in department meetings and allowing employee to have a say so in decision making demonstrates respect for employee and it allow the

HealthCo is a nonprofit health care provider operating with 36 clinics in an open system within a functional organization. The clinics include rehabilitation units, therapy facilities, hospice and geriatric units, and other highly specialized centers. HealthCo operates with approximately 6,700 employees in the eastern United States. In line with the industry, HealthCo employs a larger number of women than men in the areas of nursing and patient care.