I need a discussion response to my peers post for my performance management Coll

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I need a discussion response to my peers post for my performance management

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One of the ways to figure out what benefits employees want and need is to ask the employees for their input via survey or company meeting. As the CEO, I would give employees benefits that will matter to them and motivate them to be productive and efficient. Most employees expected health insurance, dental, long-term and short-term disability insurance. In addition, I would give employees at the minimum 3 weeks paid vacation time, tuition assistance, free snacks and beverages, professional training, free gym membership, and an all-expense paid vacation to a destination of their choice. Being a small company should not be used as an excuse to not offer employees fringe benefits. While small companies may be limited in financial resources they should make an attempt to show their appreciation for their employees even if it is giving them time of with pay. Some small companies think that giving employees a salary is enough, but giving employees benefits that they need and want will be beneficial to the employer because employees will be motivated and do their job effectively. Companies do not have to offer employees all the benefits that they want but they can give them at least one or two benefits.

References:

Milkovich, G., Newman, J. (2016). Compensation (12th ed). New York, NY: McGraw Hill.

Explanation / Answer

Employee’s benefits programs are quite necessary to keep motivated the employees of an organization. Most of the global organizations take performance management as a tool to decide it or they ask feedback /inputs from the existing employees. Even, people at the top management might utilize the wage survey in the industry with special emphasis on other benefits apart from salary. The practices like work from home, education allowances to children, leave travel concession, house rental allowance etc, makes employees motivated for maximum contribution. Non monetary recognitions are also helpful for making employees happy and committed one. Productivity and effectiveness can be increased when people get an appraisal on timely basis. Performance related pay ( PRP) will be one of the tool to provide benefits to those who are highly perform at the job.

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