Richard Kearse
Professor B. Buckler
Business 311 Section 1900
November 06, 2020
Assignment 09 – Benefits and Services
After gaining a full understanding of benefits and services through these chapters’ lectures, I’ve learned that not all corporations provide their employees with supplemental pay benefits. These benefits consist of unemployment insurance, paid vacation and holidays, sick leave, and many more. A benefit is an ‘indirect financial and non-financial payment employee receives for their employment with the company and which employers use to attract, recognize, and retain their workers.’ Even though corporations don’t give the basis supplemental pay benefits they know if they don’t often something that is valuable to the employee they will not have any associates.
Employee benefits are very important in today’s highly competitive marketplace. They function to meet a variety of their personal and family needs for employees and for that reason are highly desirable and sought after. For human resource managers, they serve to attract and retain the best and brightest individual for the company. Zappos, offer nontraditional benefits to their employees that consist of free meals and snacks in the cafeteria, a nap room, free health-care, and more. Statistically speaking, since Zappos implemented this into their corporation employees have been more encouraged to work and remain loyal to their workplace.
Personally, there are a few benefits that attract me such as the FMLA (Family and Medical Leave Act) which provides an employee unpaid leave for medical, family needs, illness, pregnancy, etc. Also, supplemental pay benefits are a must! Because it seems that you’re more than an employee to the corporation and they care for you and are concerned about your mental state. As I got older, I’ve been seeking positions that consist of a retirement plan, and that also provides life, health, dental and vision insurance for me and family. It’s important for me to obtain something like this because it’s essential to our everyday life. Having these benefits are beneficial to an employees’ life because you never know when you have to take your kid to the hospital or may get injured at the workplace and need insurance. So, having this can pay off in the long run. Obtaining a position like this is very hard to conquer because of the high competitiveness in the marketplace. However, it’s sustainable because corporations offer a plan where you can have a payment and it’ll deduct a small amount from your paycheck.
Overall, corporations compensate their employees by giving them pay plus benefits. Its human resources management job to seek individuals that are the best and brightest for the position for any company. Giving your employee benefits that fit their needs can determine their loyalty in today’s highly competitive marketplace. However, it’s hard to obtain a position with any experience. Corporations normally look for people with experience within the field you’re looking in.
References
Human Resource Management Textbook
Hearst Newspaper, 2020, https://smallbusiness.chron.com/examples-nontraditional-companies-10997.html
Hey Richard,
After reading your posting i couldn’t agree more with you. Employee benefits are extremely important especially supplemental benefits. As they serve the purpose to attract new employees I think for me personally I look for jobs that have a great balance. Money is important especially living in NYC but as you stated retirement plans and PTOs are just as important. More importantly health insurance that include dental and vision are vital to make sure you are able to take care of yourself or the family. Benefits are a way to keep employees loyal within the company because it allows you to live during the time with the company and after you retire
Thank you, Dimitri! Benefits are an essential and having them makes life easier. Yes, I also tend to look for companies that have a great balance because living expectations or standards are high. But, also, thinking about your future is important because the early you start the better!
Hey Richard,
Speaking of Zappos, it reminds me of the nontraditional benefits that googlers receive. I agree, having benefits like this for sure will make me more loyal to the company. Not only loyalty but reduces retention! Great submission!
Thank you, Gilbert! Employees that are apart of Google receive the BEST nontraditional benefits its’ unbelievable. I’ll be glad to a part of a corporation like that.
Hello Richard
I like the way you have illustrated the importance of benefits to the employees. The description of the advantages that an organization gains from improved compensation is also impressive. I support the assertion that better employee packages promote employee loyalty. You have also specified benefits such as health insurance, compensation insurance, medical leave, and paid vacation as some of the benefits workers get from a company as a token for their work and limit worker turnover.
Thank you, May! I feel benefits are a must because the standards for living are becoming outrageous. For part-timers and full-timers, there should be a requirement. Like, being within a corporation for 90 days or more to receive whatever package that is suitable for your needs.