Husna Sadiqa

BUS 311 

Unit 9

Almost every company and organization offers employee benefits,but some go beyond the expectations. Google is one of those companies that provide its employees with incredible benefits. The company offers free lunch and dinner for its employees with a variety of different options. Google also offers onsite physicians, nurses, medical services and health care coverage to keep its employees healthy and happy. Moreover, google employees can travel without any worries. They are “covered with travel insurance and emergency assistance on both personal and work related vacations” (Investopedia). In addition, according to cnbc, “google encourages employees to spend 20% of their time pursuing innovative ideas about which they are passionate about.” To attract and retain employees, google have added some non traditional benefits which includes fitness centers, massages and paid leave for new fathers. Some of these benefits are very appealing to me because I don’t think I have ever heard of these that other companies offer. Benefits such as receiving travel insurance and encouraging employees to think what they are passionate about in their work time are very useful and rare that this company has to offer. I would consider taking a lower rate of pay to gain the benefits, because If I am working somewhere I want to feel happy and motivated to keep doing my job; and not just getting paid but not liking the job I am doing. All these benefits are paying off in the long run for companies because of all the benefits, less employees quit and they are more motivated to do their best.    

Gilbert Ramos

BUS 311

To get the best employees out there, HR works with companies so they can add certain benefits to offer to their employees. These benefits do not only make employees happy and achieve organization goals, but they help attract and retain the best talent for critical roles. But coming up with benefit packages is not a breeze for HR managers. They need to take their time and evaluate packages that will satisfy their employees and be cautious of the cost of these benefits without effecting the employee’s motivation.

In today’s competitive market, organizations are changing their operations to incorporate new benefits for employees that offer work life balance and wellness. One example of this is paid time off. Employees are allowed to have a certain amount of days off which can be used either for vacation, holidays, or sick leave. For vacation employees are usually offered 9 days off if they have been working with that organization for a year. Sick leave will differ among employees but the average sick days an employee can have is about 8 days per year. Another nontraditional benefit that has really been beneficial due to the pandemic is working remotely. This is known as telecommuting. Besides working remotely to lower the rate of COVID-19, employees save money, feel more productive than at an office, working at your own pace and the organizations saves office space and supplies. Of course, there are many more nontraditional benefits organizations are incorporating but these stand out to me.

Benefits that are important and appeal to me is a 401(k) plan and medical insurance. 401(k) is important to me because the money I deposit from my check goes into my retirement. Also, if I were to leave a job, that 401(k) comes with me. There nothing wrong and more important than investing in the future.  Sadly as I did research on 401(k), there seems to be a lot of negativity. For example, according to vox.com, 401(k) “will be seen as an unfortunate interregnum, a massive waste of tax player dollars”. Savings at rates like 10% is too low and this is not good especially living in NY and the cost of living increases. Last, medical insurance will continue to be sustainable because it creasing attracts talent and boosts morale. The downside of medical insurance are the yearly cost to the company. It is up to HR managers to contain the cost while not affecting their motivation.

Sources:

• https://www.oercommons.org/courses/human-resource-management-3/view#
• UNIT 9 Lecture
• https://www.vox.com/2019/3/27/18174385/retirement-savings-401-k

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

Dimitri Jones                                                                                 November 4,2020

BUS311-1900                                                                            Professor Brielle Buckler

Assignment 9- Benefits

As defined in our week lecture benefits are indirect financial and non-financial payments that employees of a company receive for their employment within the company. In most cases this is how employers tend to recruit recognize and retain the employees. Benefits such as social security, unemployment and different family or medical leaves are required to by laws to be provided by the employer. Although laws require these benefits there are also other benefits that are at the discretion of the employer that can be provided such as PTO, pensions, personal leaves and so much more.  I have conducted two different interviews and I am including my own benefits that will show you the difference discretionary benefits

First, I would like to cover my own benefits that are provided to me as a School Safety Agent. Some of the discretionary benefits include free health, dental and vision insurance. I also receive one sick and one vacation day per month while receiving all national holidays off.  At my job I also have the ability to choose if I would like my overtime to be paid to me in time, this allows me to accrue more time if I would like to take extended vacations. Working for the NYPD another benefit would come with education, we have special scholarships that are provided to us that can cover up to 80% of our tuition. In addition to the benefits we have for education we also have accidental, terminal and counseling benefits. The accidental and terminal are provided to us in the event we get hurt off the job or develop an illness. Counseling benefits allow us to receive counseling instead of going to work while still getting paid to make sure we are okay mentally. Lastly, working under the NYPD we are automatically enrolled in a separate pension sets us up for life after retirement.

The first interview I conducted was a Bus Matron who works for a private company. The first difference I noticed came with sick days and holidays. As a bus matron they received only three sick days for the year and no vacation days. Also being a Bus matron, their schedule is determined by the children attending school which means breaks throughout the year and day. During Christmas breaks, Spring recess and summer break they are required to file unemployment instead of being paid for the time off. The job does not provide any additional benefits for education and require them to pay for their insurance offered through the job. I did notice that her job offers her a uniform allowance to pay for her uniform and additional retirement savings for the 401k.

The final interview conducted was with a Transitional Care Manager. The two benefits that stood out to me was the tuition reimbursement program and the stock program. Her job provides her with 100% reimbursement for money spent towards education. Her job also provides them with a private system to invest in stocks rewarding her with free stocks based on yearly evaluations. Her job also offers a free life insurance police while giving free yoga and counseling sessions. She has the same PTO policy as my job which awards her 1 sick and 1 vacation day a month.

In my personal opinion I like the benefits my job and the transitional care managers job provides.  The overtime structure my job provides allows me to accumulate time to take vacations and spend time away from work in order to enjoy life. The transitional care managers benefits providing tuition reimbursement and providing me stocks shows me a company cares about my growth. Personally the ability to gain stability financial, grow, and accumulate time off to enjoy life seems perfect to me. These benefits are definitely sustainable because it doesn’t cost much and it serves as a reward based on good performance.  Stock prices vary  so a job doesn’t always have to spend top dollar for a stock. Working for time or money allows you to choose your reward whether its money or time.

Here’s where assignments students submit for our Unit 9 Assignment will appear. If your post is not appearing in this section, you may have forgotten to add a Category to your post. Go back to your post and click “edit” to add “Benefits” as the post category.