Yes, employees are replaceable. However, that does not mean they have no value. Genentech and Zappos see the value in each and every one of their employees, and so they provide benefits that motivate those employees to stay with the company (Genentech, 2011; Zappos, 2010). Many of the benefits offered by these two companies are not offered at other companies, so employees want to stay where they are. That encourages those employees to work harder, to make sure they can continue to enjoy their current benefits. The companies also benefit, because high morale and low turnover means higher productivity and lower cost.
3. Incentive benefits that stray outside the realm of a good salary and health insurance can be used at almost any company or organization. People like to feel valued, and when they feel valued they have a better outlook on life, including their job. They work harder, and they willingly give more back to the company for which they work, because they see that they are important. If an employee does not feel needed in any way, he or she may have trouble coming to work. What would be the point, other than to get a paycheck which can be collected from other companies in addition to the current company?
Some companies will balk at the idea of other benefits and incentives, citing the cost of those items (Armstrong, 2006). While that is certainly understandable, companies must consider the cost of not...
Employee Benefits Describe the importance of employee benefits as a strategic component of fulfilling HRM goals. Employee benefits are very important in today's highly competitive marketplace. They are function to meet a variety of their personal and family needs for employees and for that reason are highly desirable and sought offer. For human resource managers, they can serve to attract and retain the best and brightest personnel. There are legally required benefits
Employees' Benefit Package Employee Benefit Package Employees' Benefit Package How Would you Handle the Selection of the Employees' Benefit Package? Selection of Employee's Benefit Package With high inflation rate and soaring prices of everything around us, attractive Employees Benefit Package play a vital role for the employees in making the right selection of a job. An employee compensation package consists of two components one is the fixed income in the form of basic salary and
Employee's do not have to sue the employer to get this compensation. It is normally paid through an insurance system that is financed through premiums paid by the employers. Workers' compensation premiums are based upon the accident and illness record of that organization. Obviously, larger numbers of paid claims results in higher premiums. The medical expenses are normally covered in full the under workers compensation laws. This is a
Despite offering such a comprehensive benefits plan, Microsoft has not always been in compliance with laws governing these plans. In the case Vizcaino v. Microsoft Corporation the court ruled that the company denied some of its workers benefits under its Savings plus 401(k) plan (SPP) and Employee Stock Purchase Plan (ESPP) based on the mistaken assumption that they were independent contractors and therefore not eligible for its benefits. Even though these
Employee Benefits and Services Employers still elect to offer their employees healthcare benefits despite the ever increasing costs. This they do as a result of; pressure from the labor market, the need to increase or enhance employee performance, etc. Some of the factors that affect employer spending on benefits include the financial health of both the company and the industry. Given the effects of the recent downturn in economic activity, I am
To address the issue of government mandated benefits it is important for the company to perform a regularly scheduled maintenance check to be sure the company is constantly in compliance. The rules and regulations for government mandated benefits are constantly evolving and changing, leaving even the best intentioned company in precarious positions at times. All it takes is one dissatisfied employee or former employee to lodge a complaint and if
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now