Employee assistance programs

this time frame because during the Victorian Era, farmers frequently relocated to the city in hopes of accumulating wealth. However, most were unsuccessful, leading to poverty, overpopulation, and significant status differences between employer and employee in the city, much like the Cratchit family’s case. In another case, Scrooge is taught the importance of keeping others close when shown his spirited youthful years through the spirit of Christmas past. When first introduced to Ebenezer…

offer competitive compensation packages. Today, the importance of employee benefits is higher than ever before, as indicated in a recent Glassdoor study reporting 57 percent of respondents agreeing that benefits and perks were among their top considerations before accepting a job. With Gen Y comprising majority of the workforce, it 's critical that organizations focus on getting competitive with the benefits that matter most. Top employee benefits Interestingly…

A total rewards program consists of several different elements that an employee receives for being employed at that company. Most total rewards programs consist of compensation, benefits, work-life, recognition and development. “Total reward embraces everything that employees value in the employment relationship” (Armstrong, 2007). Geico is an example of a company who has excelled at creating a total rewards program for their employees. They focus on providing benefits that will help employees…

highlighted is the Canadian sector. This company provides multiple employee benefits; even including considering opening a new location for employees that move to a city where no current office is open. The extensive list of employee perks begins here: Medical benefits- As part of the health plan, the employer pays up to 95% of the premiums, the plans are flexible and can be customized depending on the level of coverage and employee wishes. Included in the medical benefits is a Family…

Canadian sector. This company provides multiple employee benefits; tuition and family planning subsidies, and moving expense when employees choose to move to cities globally where new location are due to open. The extensive list of employee perks is extensive and begins here: Medical benefits- As part of the health plan, the employer pays up to 95% of the premiums, the plans are flexible and can be customized depending on the level of coverage and employee wishes. Included in the…

can be a strategic tool for organizations to attract, retain, and motivate their employees. More than a wages and salary earned by employee, compensation also includes benefits provided. An official statement specifying a company’s standpoint on compensation is known as compensation philosophy. According to the article, “It essentially explains the “why” behind employee pay and creates a framework for consistency. Employers can benefit from being transparent about their compensation philosophy…

As a supporter of continued education, Lowe’s provides employees with educational assistance through a tuition reimbursement program (Lowe’s Companies Inc, 2015b). Lowe’s provides financial benefits through its 401(k) retirement plan and an Employee Stock Purchase Plan (ESPP). With the Lowe’s 401(k) plan, the company contributes 4.5% of the employee’s salary into their 401(k) plan for the first 6% the employee contributes. The Lowe’s ESPP allows Lowe’s employees to purchase Lowe’s stock twice…

501(c)(3) non-profit organization founded to provided financial assistance for the family members of fallen fire fighters, law enforcement, and military personnel, Triple-F must consider not only the knowledge, skills, and abilities of each individual when developing a compensation…

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…

are low. However providing employee with lower co-pay has become increasing expensive and hence it is critical for employers to innovate non-traditional benefits. Today’s workforce comprises of 3 different generations i.e. millennials, generation X and baby boomers. Nevertheless there are few benefits which are appreciated by all of them such as flexible working hours, compressed work week, work from home, sabbaticals, however customization as per each company’s employee force is the key to…