EXTRA CREDIT – PLEASE CHOOSE ONE FROM THE THREE QUESTIONS BELOW AND THOROUGHLY A

Question

EXTRA CREDIT – PLEASE CHOOSE ONE FROM THE THREE QUESTIONS BELOW AND THOROUGHLY ANSWER IT (MAXIMUM 10 POINTS):

1. Please discuss the importance of benefits in the workplace today. Why do we offer them? What strategies do we use to make benefit decisions? How do they impact our ability to recruit and/or retain employees? Base your discussion on points discussed in class and in the text and handouts.

2. Define and describe the educational benefit/tuition reimbursement options in today’s workplace. What are the different designs, delivery systems, tax implications, etc.?

3. Communicating employee benefits is an important part of today’s benefits/human resources manager duties. Please discuss the communication strategies, components, delivery systems, mandatory vs. other communications, etc. Please be specific.

Explanation / Answer

Answer: In the era of competition, where each and every organisation follows the different hiring strategies to target the hiring of competent employees, it really becomes hard for any organisation to attract and hire the competent employees just on the basics of handsome salary and wages. So, the benefit plays an important role to attract the applicants.

The companies offer the benefits to increase employees’ retention and decrease the ratio of employees’ turnover. They also offer the benefits to drive the employee engagements and to provide them sense of security. Benefits encourage the worker to work effectively and efficiently and stay on the job even during the tough situation.

Offering a competitive salary combined with benefits can prove to be a win-win situation for any company. But for this company needs to follow and practice different strategies, that are as follows:

A fair benefits plan aligns with the handsome salary and wages increases the ration of employee’s engagement and selection. It also keeps the employees motivate to work efficiently and develop sense of belongings and satisfactions, resulting in reduction in employee’s turnover. It acts as a best strategy to retain the employees as employees find themselves valued by the organisation.    

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