Employee Benefits Assignment

Employee Benefits Assignment Words: 790

Abstract Employer’s incentives should be to provide the finest environment for their employees if they want the work to be done in a good and timely manner. Providing benefits that will increase employee’s morale is a positive way to get the best out of an employee. If employees see that their employers care about them and are willing to provide them the “extras” in life they will more likely be harder working. HR managers need to take into account different types of morale boosters when dealing with their employees. Benefits 3

For any employer, employees are the main and key asset regardless of type of organization is being run. In employing incentives to achieve health and productivity goals, employers face a number of challenges. For employers to adopt a pragmatic approach to meet challenges is to suggest solutions based on study findings (IBI, 2009). Suggestions focused on how to move forward in aligning employers’ goals and programs with their corporate culture or adjusting their culture and communication strategies to more closely align with employers’ productivity needs (IBI, 2009).

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Creating a work environment that attracts top employees and retains talent requires being in tune with the needs of employees and a dynamic, innovative approach to building a corporate climate (Rose, 2008). Employers should focus incentive programs where employees will do the most good. Reviewing exiting data on different conditions affect total cost and listening to the employees’ value (IBI, 2009). Stick with your goals over time and consistency is vital. Change only when goals are met and exceeded, then move to other higher-value goals (IBI, 2009). On site services offer conveniences that can help employees manage a demanding schedule.

Financial incentives are attractive to entry level workers as well as those with limited family incomes (Rose, 2008). The larger the organization, the more relevant this becomes (Rose, 2008). Food is brain fuel and to increase productivity look to improving the quality of the food available to staff (Rose, 2008). Financial incentives beyond competitive salaries can help attract top talent (Rose, 2008). Many companies offer financial incentives such as: Corporate discounts – company products and services offered at a discount to staff or negotiated corporate discounts with certain retailers, Benefits 4 ecreational facilities or hotels/airlines (Rose, 2008). Other financial incentives can be 1) stock options, 2) retirement savings plans and pensions, 3) low interest rate loans for home purchases, and 4) bonus based on performance (Rose, 2008). Employee benefits are one of the biggest costs an employer faces, after payroll. As you look for an employee benefits provider, you will need to know the going market prices of similar employee compensation plans to be able to successfully negotiate. Look for group employee benefits options by communicating with other business owners with similar needs (Rose, 2008).

The most common employee benefits are 1) paid time off, 2) health insurance, 3) disability insurance, 4) vision and dental insurance, 5) life insurance, and 6) retirement plans (Rose, 2008). To boost employee’s morale employers should show their appreciation during an assignment and after the assignment. Providing a great 401 k retirement plan, four weeks of vacation, great benefit package, or salary increase are great ways to motivate employees. They are designed to raise the morale of employees so that they feel good about the company they work for (Spritzer, 1995).

Morale boosters do not increase motivation because they are not directly tied to an increase in performance (Sprtizer, 1995). An employee with good morale is not necessary a motivated employee (Spritzer, 1995). For example, an employee that comes to work and spends one or two hours each day socializing may have great morale, but will also have the worst production levels of any employee in the department (Spritzer, 1995). Benefits 5 HR managers need to provide incentives such as great 401k plans, longer vacation time, or great benefit packages to retain their employees because a company wants motivation.

If a great benefit package will not motivate an employee, and a designated parking spot with their name stenciled in gold will not motivate an employee, what will (Spritzer, 1995)? In order to motivate your employees do you change the employee or the organization in which the employee works (Sprtizer, 1995)? The answer to this question is change the organization because changing the individual takes too much time, effort, doesn’t help any other employees, and is not likely to produce any long lasting effects (Spritzer, 1995). Benefits 6 Reference

IBI. 2009. Employers incentive for workforce and productivity: actions for American business today. http://www. acoem. org/uploadedFiles/Career_Development/Tools_for_Occ_Healt h_Professional/Health_and_Productivity/Employer%20Incentives%20for%20Wo rkforce%20Health%20and%20Productivity%20- %20Actions%20for%20American%20Business%20Today. pdf Rose, J. 2008. Top employer benefits. http://leadership- training. suite101. com/article. cfm/top_employer_benefits Sprtizer, D. 1995. Unlimited employee motivation. http://www. employer- employee. com/motivat. htm

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