Employee Benefits Essay

Employee benefits are an important component of compensation for many US employees. Approximately 30% of worker compensation comes in the form of fringe benefits, and benefits have been linked to increased productivity and worker satisfaction, and reduced absenteeism (Artz, 2010). While health and life insurance are common benefits provided to employees, firms also offer EAP programs, child care, flexible work hours, work-at-home programs, long-term disability insurance, and health and wellness

or not, when the phrase employee benefits is mentioned there are many different perspectives from various angles as to what exactly employee benefits entail. Some perspectives are, but not limited to, what is deemed an employee benefit, what benefits are required by law to be given to employees, benefits that employees might feel are superior, and whether or not benefits provide value to the employer. For clarification purposes Alison Doyle offers this, “Employee benefits are non-salary compensation

Employee benefits are an essential component of an organization’s total rewards strategy. Today companies design benefits packages that are unique and rewarding in order to attract and retain talented workers. In fact, employee benefits have evolved significantly over the years. Employee benefits are no longer just the basics, such as healthcare and retirement plans. Organizations are now expanding their benefits and rewards offerings to include creative perquisites, such as onsite childcare, flexible

Employee benefits are all forms of consideration given by an enterprise in place of service rendered by employees. Post employment benefits are employee benefits which are payable after the employment period is completed. Profit sharing & bonus payment: an organisation should observe the future cost of profit sharing and bonus payments only if the organisation has a present obligation to make these payments based on the result of past events. A trustworthy assessment of the obligation can be made

Benefits play a major role towards employee satisfaction and how they behave in an organization. Employee satisfaction is necessary for the success of any organization. Keeping employee satisfaction should be a priority for every employer. There are many reasons why an employee can become discouraged with their jobs. Some include: lack of communication within the organization, high stress levels, lack of recognition, or limit opportunity for growth. Health insurance is one benefit in the foundation

Employee Benefit Plan Development “Understanding your employee’s perspective can go a long way towards increasing productivity and happiness” – Kathryn Minshew, founder of The Muse. In today’s highly competitive and robust job market, benefit programs have become an integral aspect of an employer’s total compensation package. In fact, an employer’s total benefit package plays just an important role in attracting and retaining talent for organizations as monetary compensation, according to a recent

Employee benefits are an important cog in the wheel of industry in today's busy world. Oftentimes, potential employees are more interested in the benefits a company provides than in the salary or compensation they will be receiving. Potential employees oftentimes desire healthcare or insurance plans and pension plans that will take care of them for the long-term, not a short-term benefit plan. In the past, employers often took a 'cookie cutter' approach, offering the exact same benefits as every

regards to employee benefits, employers should make it a priority to help employees understand the value of the benefits received. This is challenging since benefit plans are complicated and plan statements are often difficult to comprehend. However, employees with a good understanding of their benefits package estimate its value 42% higher than those who don’t (Crawford 2014). The State of Tennessee addresses this by sending a letter each year detailing the monetary value of my benefit package

The succeeding paragraphs will explain how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. In order to maintain their competitive edge, companies need to fully understand that as the needs of their employee’s change, so does their benefit plans. Companies need to find innovative ways of engaging employees that encourage and support their commitment and improve their performance. The first way is by helping the company to attract and

Employee Benefits Program and Pay Structure Basic Salary The pay structure of the District Sales Leader (DSL) at Nestle has traditionally been between $67,000 and $70,000 (Glassdoor, 2016). This salary range is quite competitive in the industry, and it does not include the potential cash bonuses, profit sharing, stock bonuses, commission sharing and other tips associated with the profession. Compensation for the DSL will be a function of the market conditions, and equity will be highly considered