Employee BenefitsEmployee Benefits
Employee benefits are the wages paid by a company or an organization to its employees on top of their annual salaries. It is also the advantage that a corporation offers to its employees. Therefore, employee benefits can be in cash form or non-cash form. However, the law has ensured that some employee benefits are guaranteed in all the companies in the country. This paper analyzes the different benefits that the companies avail for their employees. Moreover, it explains their importance and how it motivates the employees (Hameed, Ramzan & Zubair, 2014).
Some company benefits can change the employee’s decision to working on a company. In a job market, a company benefit is a tool that pulls employees into applying for employment. More allowances mean more advantages, and thus people would be attracted to working in a specific company. Therefore, these factors should be clearly stated so as to attract more employees (Bryant & Allen, 2013).
Most companies provide a commuter allowance or travel assistance. However, many employees do not come from around the organization’s location. Therefore, they need travel assistance, or else they will spend a lot of commuting in and out of business. When an employee comes looking for a job and sees such deals, their decisions will be changed. Moreover, some company’s provide travel means; that is, they pick and drop their employees from their homes. This not only encourages the employees but motivate them as it ensures early arrival to work (Hameed, Ramzan & Zubair, 2014).
Many company employees face some risks while working. An example is eye damage in laser companies. Most of these gather for their employee’s health services, that is, health insurance. This fact has ensured that the employees work freely and work courageously. In turn, it improves the company’s output production as the workers are motivated to work. New employees, however, are not afraid of working in the organization as they are well sure that they are covered health-wise.
Health insurance: health insurance is a mandatory employee benefit ensured by the law. Therefore, all organizations have guaranteed that all their workers are covered health-wise. Employees also have a right for off duty during an injury or when they are sick. Workers who do not feel well have a right to see a doctor; they, however, should not report to work (Bryant & Allen, 2013).
Family medical leave: employees have a right to go for unpaid leave when one of their immediate family members, like their child, is not feeling well. It is usually a maximum of 12 weeks. An employee should, therefore, keep his job and benefits as he is on this leave. However, it applies to workers who attend a child’s birth (Bryant & Allen, 2013).
Disability insurance is one of the government’s ensured benefits. Employees who get injured in or out of their line of work and hence fail to work for some time should get compensated. However, this benefit is not mandatory in all states and countries. Unemployment insurance is another essential benefit. It ensures that the employers offer their employees with unemployment benefits, either full time or per time. It ensures that the employees get compensated when the involuntarily get separated or terminates their contract with the company (Hameed, Ramzan & Zubair, 2014).
Apart from the law given benefits, some organizations have some extra benefits for their employees. Retirement benefits are one of the companies given benefit. This ensures that when an employee retires, they will still benefit from their Live’s savings. This is a saving benefit. However, it is a motivation for employees to save for their future use (Bryant & Allen, 2013).
Different companies provide enrichment benefits. This is a benefit in the form of education. Many companies educate their employees on how to invest and use the wages they get. They train them on the market trends and how they can grow on their investment. Moreover, they encourage them to save and educate them on how to spend wisely. This act has helped the employees to grow economically and to fit in the current market.
Many companies have offered convenient features to their employees. This includes in-house keeping. The companies have tended to reduce time-wasting duties such as house cleaning for their workers. They have provided them with housekeepers, they have also paid for their house cleaning support. However, they have provided laundry delivery services for their employees (Bryant & Allen, 2013).
Apart from these aids, some benefits should also be guaranteed to boost employee motivation. Paid vacations are one of the benefits that can increase an employee’s work rate. Moving out of the organization for a number of days will ensure that the employees do not suffer from monotony. Paid volunteer days are also a benefit that companies should consider. This will ensure that employees are motivated to work even during holidays. These benefits will increase the organization’s output product and employee relations (Hameed, Ramzan & Zubair, 2014).
In conclusion, employee benefits are vital to a company’s development. It majorly acts as a motivation for workers. To ensure that the employees work the best of their abilities and provide the best of their skills, their interests and benefits should be gathered (Bryant & Allen, 2013).
References
Bryant, P. C., & Allen, D. G. (2013). Compensation, benefits, and employee turnover: HR strategies for retaining top talent. Compensation & Benefits Review, 45(3), 171-175.
Hameed, A., Ramzan, M., & Zubair, H. M. K. (2014). Impact of compensation on employee performance (empirical evidence from the banking sector of Pakistan). International Journal of Business and Social Science, 5(2).