Benefits And Benefits Of Employee Benefits Essay

1032 Words Jun 19th, 2015 5 Pages
Employee benefits are one of the largest investments a company makes. “Benefits make up an important component of the employment relationship, providing employees with financial protection, access to health care and programs to support work/life balance” (Kwon, J. and Hein, P., 2013 page 32). Although employers are careful in creating and managing the benefit program, they often failed to look at the other benefit programs. As a result, the employers may not get the highest return for the overall spending for implementing the benefit programs. However, the total rewards program “will have a more positive impact on attraction, retention, and engagement while helping to manage the cost and volatility” (Kwon, J. and Hein, P., 2013, page 32).
This paper analyzes two different total rewards programs established at ‘Xcel Energy’ and ‘The Hershey Company’. The total rewards programs designed and delivered at both the Xcel Energy and the Hershey Company provide an incentive for talented people to join and to perform at levels that produce desired results and to remain with the company as long as they continue to produce. Both companies achieve a higher return on their investment in benefits and other programs by institutionalizing the total rewards program.
Hershey Company “counts on innovative, creative, and hardworking employees to keep them on the leading edge” (Hershey page 60). Hershey Company rewards “employees with a highly competitive, market-driven program of…

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