Introduction
Employee motivation and retention depend on the compensation plan advanced by the organization. Most organizations seek to develop the best benefits package to suit the interests of their employees. It is worth highlighting that, the benefits are formulated to protect the rights and interests of the firm as well as the employee. The extent of reward from the benefits would influence the performance of the employees by determining their motivation (Need, 2006). This paper analyzes the case of the Jones Investments Company and its aim of deciding on the best package that would gratify their prospective employee, Aden and influence him to take the job.
Likely Desirable Benefits
Some of the aspects of the Jones Benefits plan that …show more content…
Allowing an employee to receive a share of the profits generated by the organization increases their commitment to performance in the organization (Porter et al., 2016). Aden, being in his 30s, most probably has the desire to advance his education to another level. Hence, the education package would be most desirable if it covers his educational expenses. Accordingly, Aden would be more willing to get a job in a firm that identifies his need to develop his professional skills through educational advancement. Subsequently, most people in their 30s, either have a family or are planning on starting a family and having a paid daycare benefit which removes some of the cost from their budgets is very appealing. Taking off 50% of the daycare costs would translate into savings by Aden to care …show more content…
The long-term insurance package is primarily beneficial for people at a more advanced age than Aden. Most individuals of Aden’s age cannot adequately and accurately predict what their health outcomes would look like in the future. As such, they would want to take up the insurance plans at the age of 65 and above. This is because it could be too early for Aden to decide if the long-term care insurance package is good for him or if he even needs it at all. Similarly, a one week paid vacation as a benefit would not be desirable for Aden. Again, taking into consideration of age, he is still active and would love taking more time off to have fun during the vacation. Aden and other individuals in their prime are very energetic and the propensity to take vacations increases. For this reason, providing one-week holiday may be insufficient, as he would need at least two weeks paid vacation to enjoy himself thoroughly Aden (Shields et al.,
Employee motivation and retention depend on the compensation plan advanced by the organization. Most organizations seek to develop the best benefits package to suit the interests of their employees. It is worth highlighting that, the benefits are formulated to protect the rights and interests of the firm as well as the employee. The extent of reward from the benefits would influence the performance of the employees by determining their motivation (Need, 2006). This paper analyzes the case of the Jones Investments Company and its aim of deciding on the best package that would gratify their prospective employee, Aden and influence him to take the job.
Likely Desirable Benefits
Some of the aspects of the Jones Benefits plan that …show more content…
Allowing an employee to receive a share of the profits generated by the organization increases their commitment to performance in the organization (Porter et al., 2016). Aden, being in his 30s, most probably has the desire to advance his education to another level. Hence, the education package would be most desirable if it covers his educational expenses. Accordingly, Aden would be more willing to get a job in a firm that identifies his need to develop his professional skills through educational advancement. Subsequently, most people in their 30s, either have a family or are planning on starting a family and having a paid daycare benefit which removes some of the cost from their budgets is very appealing. Taking off 50% of the daycare costs would translate into savings by Aden to care …show more content…
The long-term insurance package is primarily beneficial for people at a more advanced age than Aden. Most individuals of Aden’s age cannot adequately and accurately predict what their health outcomes would look like in the future. As such, they would want to take up the insurance plans at the age of 65 and above. This is because it could be too early for Aden to decide if the long-term care insurance package is good for him or if he even needs it at all. Similarly, a one week paid vacation as a benefit would not be desirable for Aden. Again, taking into consideration of age, he is still active and would love taking more time off to have fun during the vacation. Aden and other individuals in their prime are very energetic and the propensity to take vacations increases. For this reason, providing one-week holiday may be insufficient, as he would need at least two weeks paid vacation to enjoy himself thoroughly Aden (Shields et al.,