New and Improved Rewards at Work

1- Employers possess limited budget to fund employee benefits. From an employee's perspective, which employee benefits practices should be funded? Which are easily dispensable? Now respond to these questions as an agency or company representative?

As important as attracting good employees is, it is just as important to retain them. As always, benefit packages help to retain employees. After spending as much time as you should have in attracting good employees, it only makes sense that you would go to certain lengths to keep them.

I believe it's important to improve a weakness because the result can bring an abundance of rewards. I personally struggle with science, and I want to major in pre-veterinary studies or animal science. That's might be difficult, due to the fact that veterinary medicine is based on science; however, being a vet is something I've always dreamed of doing, so I will do anything I need to. The importance of improving on a certain subject can make your dreams more possible with some hard work, so go out there and put forth the effort needed in order to be successful. You will find that all the things you did in order to improve will always be to your benefit in the

Overall, all of the incentive benefits can give employees the extra boost they need to make it through the day at work and home. These benefits have the potential to increase the value of every employee in the company and lessen the turnover rate.

This is immensely different than the United States as employers are expected to compete with one another to get the best employees, by offering the best benefits. With so much supplementary cost, with benefits, it is very important to one: know what the greatest expense cost will be to further help your employees and organization in the future. Two, find a balance between benefits that will encourage employees to want to work for your company.

When asked about retention of employees and how benefits can keep employees within the company as well as the impact of benefits, I was told benefits constantly are a factor on of employees will stay with a corporation. In CHPW there is a lot of competition between health insurance organizations, due to many having the lack of experience in the field and dealing with Medicare or Medicaid (governmental programs) is an extremely valued skill. Lesley gave me a sample of how certain benefits will keep and lose employees, personally at CHPW, our health insurance premiums are raising this next year. Our PPO plan is raising for single insurers by $50 a month and for families it rises upwards of $150 a month. Lesley told me that she fears, that this cost increase of health insurance will have a negative effect on the company, in the effect of losing some workers than can get more inexpensive health insurance through a different employer.

Employee benefits are very important when considering a position with the company. In today’s workforce, employers are going after good tactics to highly satisfy their employees. What great tactic to focus on voluntary benefits!

In the workforce, employees turns to be more involved in the successful results when they know that they will share in the rewards (Wilkinson, 1992). There have to be a well established incentives for better creation of ideas and efforts which would lead to increased business. Rewards allows employees to see themselves being valued and recognize their involvement in the business. Employees' morale and motivation is boosted and the staff progress on with higher level of creativity and

Kaplan, S. L. (2007). Business Strategy, People Strategy and Total Rewards. Benefits & Compensation Digest, 44(9), 1-19.

Total Rewards reflects what employees’ value from its employer. It focuses on five elements that attract, motivate, and retain the talent to achieve business goals. These elements are: Compensation, Benefits, Work- Life, Performance and Recognition and Development and Career Opportunities (WorldatWork, 2007, p. 4). This paper describes the five advantages of a total rewards approach, five ways a total rewards strategy can go astray, six steps involved in the design of a total rewards program and eight steps involved in the communication process of a total reward program (WorldatWork, 2007, p. 15-64). Finally, the paper

I took everything into consideration when deciding what the rewards should be for the reward system. I sat down and talked to a few people to see what exactly they would like to see as rewards. I think looked over all the information that I accumulated and picked the ones I thought would work the best. I figured everyone would like a paid day off work for doing a good job. As for employee of the month I would like everyone to get this not just the same person every month. I will be the one to choose this person and they will get chosen even if it is only one thing that they have improved on. I figure if they improve on one thing then if they make employee of the month that will make them want to improve that much more so that they can continue to get rewards. [pic]Even a small little sticker or pin will make the employee know that you see that they are doing a great job and this will encourage them to move forward. This can be given on a daily basis. Also keeping a large chart on all the quality service people are giving and the areas where employees need to improve will help the employees know where they stand at all times. Keep this chart where everyone has access to it at any given time. This reward system is something that all the employees had a say in

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

Besides treating your employees to well-earned perks, offering a company benefits plan has many benefits for the company as a whole, including:

Understanding how employee benefits can play a vital role in recruiting and satisfying employees can help me recognize how an organization can use it as a competitive

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.