The Employee Total Compensation Program

Decent Essays
Products or Services to Enhance Total Compensation for Employees The employee total compensation program in Aflac is competitive with the industry market for the employees (Reed, 2009, p. 3). First, the company has a program referred to as a “Total rewards program” for the employees of this organization (p. 3). Next, the focus of the Aflac organization derives from the importance of employees through communication (p. 3). To illustrate, the company’s benefits include compensation, such as life insurance paid for by Aflac, policy for cancer paid for by Aflac, insurance for protecting accidents at a low premium for employees, and programs that provides bonuses based on profit-sharing (pp. 4,6). In addition, the organization provides a…show more content…
3). The external strength of the organization is the principles to that guide the organization to improve stockholder value and quality of services (p. 3). The external weakness includes lower than average of unemployment rate of 3.3 percent that creates challenges to retain competitive employees to meet the shareholder expectations (p. 3). The challenges of an organization can influence the performance of an organization from a satisfaction with pay (Gomez-Mejia, Balkin, & Cardy, 2016, p. 296). The employee salary within an organization is a huge cause for turnover of employees (p. 296). First, the topic of employee salary is of great importance for the current and potential workforce (Lee & Lin, 2014, p. 1577). In addition, employees that have the perception on receiving lower compensation that others within their market will lack in performance and have a desire to leave the organization (p. 1577). In retrospect, the regular evaluation of compensation within the organization is vital to the reduction of employee turnover (p. 1577). Traditional and Non-Traditional Rewards The use of traditional reward within the organization rewards that is apparent within Aflac. The use of the traditional reward systems is the compensation, profit sharing, and insurance profited to employees (Reed, 2009, pp. 3-5). The non-traditional rewards in the Aflac organization are the child care facility, employee recognition, outdoor adventure days, fitness
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