The changes in the types of benefits provided by employers over the past decade have been excessive. Benefits have always been used as a non-wage bargaining tool when recruiting workers for the company. They types of perks offered can make or break the company when competing for the workforce. From how benefits started out, to what they are now, and how they are improving the improvement can be see and help employees recognize if they are being appreciated.
The use of employee benefits was slowly introduced during the industrial revolution. Because of the harsh work environment, long hours, and poor pay employers began to use retirement benefits to attract new employees to their company. The introduction of a retirement plan was the most …show more content…
The type of benefits provided by an employer can help candidates decide what company they would like to work for and if they want to stay working for a particular company. MetLife found that “59% reported the benefits as a significant reason to stay with their company” (2013). A similar survey complete by Aflac showed that “16% of employees have left a job or turned down a job in the last 12 months due to the benefits offered” (2016). Also, that types of benefits provided could improve the job satisfaction of an employee, which will increase productivity and benefit the company in the long run. Many studies have proven this case “96% of employees who are satisfied with their benefits are satisfied with their jobs “(Aflac, 2016). Improving the benefits package can help lower turnover and increase work productivity “42% of employees say improving their benefits package is one thing their employers could do to keep them in their jobs; the second most mentioned after ‘increase my salary’”(Aflac, …show more content…
Many more companies have begun to add in voluntary benefits for their employees to help increase they job satisfaction. Wellness programs have become important for many employees. The typical structure of a wellness plan would be for the employer to provide incentives for employees to participate in fitness activities, have onsite health screenings, as well as encouraging the employees to learn more about their health through seminars and classes. This provides almost as much benefit for the company its self as it has show to decrease health care cost for the company acting as a proactive measure to change the health of their
The use of employee benefits was slowly introduced during the industrial revolution. Because of the harsh work environment, long hours, and poor pay employers began to use retirement benefits to attract new employees to their company. The introduction of a retirement plan was the most …show more content…
The type of benefits provided by an employer can help candidates decide what company they would like to work for and if they want to stay working for a particular company. MetLife found that “59% reported the benefits as a significant reason to stay with their company” (2013). A similar survey complete by Aflac showed that “16% of employees have left a job or turned down a job in the last 12 months due to the benefits offered” (2016). Also, that types of benefits provided could improve the job satisfaction of an employee, which will increase productivity and benefit the company in the long run. Many studies have proven this case “96% of employees who are satisfied with their benefits are satisfied with their jobs “(Aflac, 2016). Improving the benefits package can help lower turnover and increase work productivity “42% of employees say improving their benefits package is one thing their employers could do to keep them in their jobs; the second most mentioned after ‘increase my salary’”(Aflac, …show more content…
Many more companies have begun to add in voluntary benefits for their employees to help increase they job satisfaction. Wellness programs have become important for many employees. The typical structure of a wellness plan would be for the employer to provide incentives for employees to participate in fitness activities, have onsite health screenings, as well as encouraging the employees to learn more about their health through seminars and classes. This provides almost as much benefit for the company its self as it has show to decrease health care cost for the company acting as a proactive measure to change the health of their