Benefits that are important to employees: A review of employee benefit programs
Benefits that are important to employees: A review of employee benefit programs
Quinella D.
Course: GB520
Individual Research Paper
Date: October 9, 2012
Abstract
When employees look for employment compensation is important. However, employee benefits programs can be the deciding factor when it comes down to decision making; accept or decline a job offer. Having a “good benefits package” is the most desired attributes in an employer and it attracts human talent (Conlin, 2008). Even the decision to stay with at an organization or to leave, the topic of employee benefits resurface. Human Resource Managers are tasked with the responsibility of administering the company’s benefit program. This includes keeping track of the benefits, giving the basic overview, managing enrollment period just to name a few which can be time consuming not to mention costly.
Employers provide benefits to attract the best talent, to retain or incentivize employees for high performance, and because some benefits are required by the law (Bohlander & Snell, 2010). But employee benefits makes up a large part of administration cost in terms of payroll thus creating an expense and major concern to the employer (SHRM, 2011). Employees want great benefits because of the security it provides by lowering their out of pocket expenses and preparing them for the unknown yet immediate future.
A common theme, on both side of the spectrum for employer and employee is “expense” or “cost” and for that reason this research paper will evaluate what benefits are important to employees and what are employers doing about it; a review of employee benefit programs.
Employee Benefits Program Available and HR
There are many benefit programs available to the employee from the basics like healthcare, to benefits in form of employee service like prepaid law. However, a good and competitive benefit program aligns strategically with the goals and objective of the organization which may
Quinella D.
Course: GB520
Individual Research Paper
Date: October 9, 2012
Abstract
When employees look for employment compensation is important. However, employee benefits programs can be the deciding factor when it comes down to decision making; accept or decline a job offer. Having a “good benefits package” is the most desired attributes in an employer and it attracts human talent (Conlin, 2008). Even the decision to stay with at an organization or to leave, the topic of employee benefits resurface. Human Resource Managers are tasked with the responsibility of administering the company’s benefit program. This includes keeping track of the benefits, giving the basic overview, managing enrollment period just to name a few which can be time consuming not to mention costly.
Employers provide benefits to attract the best talent, to retain or incentivize employees for high performance, and because some benefits are required by the law (Bohlander & Snell, 2010). But employee benefits makes up a large part of administration cost in terms of payroll thus creating an expense and major concern to the employer (SHRM, 2011). Employees want great benefits because of the security it provides by lowering their out of pocket expenses and preparing them for the unknown yet immediate future.
A common theme, on both side of the spectrum for employer and employee is “expense” or “cost” and for that reason this research paper will evaluate what benefits are important to employees and what are employers doing about it; a review of employee benefit programs.
Employee Benefits Program Available and HR
There are many benefit programs available to the employee from the basics like healthcare, to benefits in form of employee service like prepaid law. However, a good and competitive benefit program aligns strategically with the goals and objective of the organization which may
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