Employee benefit

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…

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…

members have also requested Jan to reduce the employee cost as it was suggested by Kavanagh, Thite and Johnson (2012) that comparing the employee cost of the company to the average cost in the industry, CalleetaCO’s…

Employees (Fringe) Benefits Fringe benefits are the additional reward given to employees some based on parameters like quality of service, overtime work or to all general workers. Most employers provide fringe benefits to their employees and help to build a better understanding and boost the relationship between the employer and employee. Life insurance offers, retirement plans, child care, leaves offers and leaves pay, and discounts are some of the benefits offered. These benefits may help an…

Packages Senior executives at Holiday Inn are compensated differently than other employees. An executive compensation package for Holiday Inn consisted of their base salary, benefits, cash bonuses, and long-term incentives. The board is in charge of setting the base pay for the executives and it is quite competitive. Many benefits that executives receive tend to differ from that of lower level employees as well. Consequently, executives tend to have a higher level of health insurance, life…

keep moving in an upward direction. SUMARY OF FINDINGS Discoveries found that many organizations have not mastered the architect of recruitment to the fullest. Appealing to uprising men and women entering the work force is not only offering great benefits such as medical insurance, paid vacation, medical leave, life insurance along with competitive wages,…

They continue to experience a 400% employee turnover, constantly have 3 employees missing during each of the 2 shifts, and generally low productivity level. Now Slay Steel has to determine whether they should implement a new payment structure of $20 per piece produced in an attempt to boost productivity or keep to the same compensation level. After examining each side of the dilemma, it is recommended that Slay Steel takes certain measures to improve employee retention and productivity. In the…

believe optional benefits, for example, pension plans, life coverage, stock bonuses, dental and child care, and cafeteria plans have come to be expected by workers (Noe, 2011). These benefits are from time to time negotiated between the employee and the employer as conditions for employment. Despite the fact that these benefits are not required by law, however once they are part of the employee contract, in which the business has to offer them to the employee. Optional benefits are those which…

allow you to hire, pay, and evaluate your employees and reward them for doing well. 2. How does a salary differ from wages? Salaries and wages may sometimes get confused but are easy to determine. A salary is a fixed amount of money paid to an employee regardless of the…

In addition to legally mandated benefits, Lowe’s also offers employees a broad range of additional, voluntary benefits. Some benefits are essential for attracting high-quality staff while others provide cost-saving benefits to employees to encourage staff retention (Lowe’s Companies Inc, 2015b). As essential benefits, Lowe’s offers paid vacation, holidays, and sick leave to all employees. Vacation benefits range from ten vacation days for new, full-time employees to twenty vacation days for…