In our last couple of Units of class we have learned about compensation for employees and all the different ways that we, as employees can be paid for our work. The obvious one that comes to mind when we think of compensation is money. Of course money is extremely important for pretty much everything in the modern world and it is definitely a necessity, there are other ways that we can receive compensation for our efforts in the workplace. While there are companies that just give you money for the work that you do, some companies go above and beyond in terms of what they offer to their employees for their efforts. While researching companies for this assignment, one such company I found that seems to go above and beyond for their employees is IBM.
IBM, which stands for International Business Machines, is a multinational technology company. They sell computer hardware and software and they also do research and hold many different patents such as the ATM and the Hard Disk Drive. I went to IBM’s website and headed over to the Benefits page where I found a brochure for all the benefits that IBM offers to its employees, and there are a lot. Companies are now trying to figure out ways to help out their employees not only with money but their careers and their lives as a whole. I am just going to write out the names of the different chapters of the brochure just to show you how many different benefits there are, and remember these are only the chapter headings, so there are subdivisions of more benefits for each of these headings. The headings are: Healthcare Choices, Prescription Drug Benefits, Mental Health Benefits, Vision Choices, Dental Choices, Flexible Spending Accounts, Healthcare Coverage (after you leave IBM), Life and Disability Benefits, Capital Accumulation and Investment, Time off, Family and Personal Services, Covid-19 Support, Other IBM HR Programs, Career Development Programs, IBM Corporate Citizenship & Corporate Affairs.
So as you can see IBM offers a lot of different types of benefits. I am going to highlight just a few specific ones that I personally find appealing. I am not even going to cover the healthcare options that IBM offers because there are just so many and I think so many people would appreciate the different options that IBM provides not only for you personally but for your family as well. Not only do they provide great healthcare while you work for them but they also will help you with your future healthcare needs after you stop working for them, at least for a certain period of time, and will also satisfy requirements of COBRA. Other benefits include legal assistance when needed, a 401(k) Plus Plan, Investment Opportunities, Stock Purchase Plans, and one that I think would help me is IBM MoneySmart. IBM MoneySmart is a programs that provides financial education and planning which is designed to help their employees ‘get smart” about their personal finances. They also provide discounts at more than 80 other partners and Student Loan Refinancing. Another one that may be appealing to soon to be parents is that they offer 12 weeks of paid Parental Bonding Leave for any and all parents of a newly born or newly adopted child. There are so many more benefits that they offer that are really great as well and it would take way too long to talk about all of them. I personally think I would take a small pay decrease if I was able to have access to all of these benefits, but at the same time I don’t need ALL of them. If there were any option to pick and choose which ones I do want and balance out salary and benefits, that would be ideal.
When researching whether or not these benefits pay off in the long run, I kind of encountered mixed results. I found a couple articles stating that benefits such as these increase productivity and morale, while there were other research papers that stated that workers just wanted money and benefits didn’t really effect productivity of workers. There was one research paper I found, and I couldn’t read most of these research papers without paying money or doing some long process, but I was able to read the abstracts. One paper stated in the abstract “employee benefit programs have greater impact on work‐motivation than on productivity; monetary benefit programs are most highly valued by both executives and workers; there is a cognitive gap between management and worker on the importance of employee benefit programs; different genders have different benefit demands; unmarried employees, more than married employees, perceive that employee benefits have a greater impact on job performance. Employees with different education levels and positions perceive different employee benefit impacts; and employee benefit programs have greater influence on younger employees′ job performance.” Basically that different people have different needs, and different benefits will effect people differently based on what they want and need. I think that there are a lot of people who would appreciate benefits when offered to them, but may not need them and just prefer a higher salary. I definitely think benefits are important for motivation, but I think if its going to be sustainable the employees needs to make the choice for themselves about what they want and what will make them work harder and better.
Sources:
Ajose, B. (n.d.). Employee benefit and its effect on employee productivity. Retrieved April 11, 2021, from https://www.academia.edu/25932687/employee_benefit_and_its_effect_on_employee_productivity
Hong, J., Yang, S., Wang, L., Chiou, E., Su, F., & Huang, S. (1995, December 01). Impact of employee benefits on work motivation and productivity. Retrieved April 11, 2021, from https://www.emerald.com/insight/content/doi/10.1108/09556219510098064/full/html
IBM benefits. (2021, February 09). Retrieved April 11, 2021, from https://www.ibm.com/us-en/employment/benefits/
Oden, P., By, P., & Oden, C. (2018, May 07). Employee benefits and its effect on employee productivity. Retrieved April 11, 2021, from https://www.projecttopics.org/employee-benefits-and-its-effect-on-employee-productivity.html
IBM BENEFITS BROCHURE : https://www.ibm.com/us-en/employment/benefits/assets/2021_IBM_Benefits_and_HR_Programs_Summary_v2.pdf