Employee Benefits Essay - 1189 Words

Employee benefits are a tool used by businesses to attract potential applicants, improve employee satisfaction, reduce turnover and maintain competition. Benefits that most employers offer include, but are not limited to, medical and dental coverage, time away from work, retirement, and additional assistance during life changing events. The majority of employers in the United States offer benefits to their employees and include an annual enrollment yearly to select benefits and make any needed changes. Most view medical and dental coverage as the most important option within their benefits package. Medical coverage usually includes doctors visits,†¦show more content†¦The most popular form of time off is vacation time, this is typically a time that has to be scheduled off in advance and the time allotted is determined based on employee seniority. The amount of vacation an employee may receive is determ ined by many factors in the company such as the industry, organization size and locale. Companies tend to offer one to two weeks for employees after they have had a position for one year, and once the position has been held for five or more years the employee will receive an additional allotment of scheduled time off. Paid holidays are nationally observed holidays such as New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas; an employee would normally get this day off with pay or if asked to work would receive additional compensation for working on the holiday. Sick time is for the unexpected time of illness and is generally something that an employee would have to call out for, thus notifying their manager that they will not make it to work for that day. Sick time consists of one week or forty hours and can be scattered through out the year. (Bohlander 479) FMLA or Family Medical Leave of Absence is considered an excused absence in the event there i s an illness in the family or a health condition with ones self, and the birth of a child. FMLA is something that is doctor approved and an employee obtains a certain amount of hours to use per year. FMLA can be an option that you are notShow MoreRelatedBenefits And Benefits Of Employee Benefits Essay1422 Words   |  6 Pagesor not, when the phrase employee benefits is mentioned there are many different perspectives from various angles as to what exactly employee benefits entail. Some perspectives are, but not limited to, what is deemed an employee benefit, what benefits are required by law to be given to employees, benefits that employees might feel are superior, and whether or not benefits provide value to the employer. For clarification purposes Alison Doyle offers this, â€Å"Employee benefits are non-salary compensationRead MoreBenefits And Benefits Of Employee Benefits1195 Words   |  5 PagesEmployee benefits coordinator play a significant role in Human Resource Manageme nt. Employee Benefits coordinators are responsible for assisting with employee benefits, maintaining employee data base, managing all insurance billings and maintain employee files, sick pay, vacation and retirement. This study explores the importance of employee benefits to corporations, government agencies and non profit organizations. This paper also researches the effects on the management team and on individual employees’Read MoreEmployee Benefit Plan Development : Employee Benefits Essay1508 Words   |  7 PagesEmployee Benefit Plan Development â€Å"Understanding your employee’s perspective can go a long way towards increasing productivity and happiness† – Kathryn Minshew, founder of The Muse. 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Organizations are now expanding their benefits and rewards offerings to include creative perquisites, such as onsite childcare, flexibleRead MoreQuestions And Questions On Employee Benefits884 Words   |  4 Pagesaction plans helping them put strategic talent into strategic positions (Becker and Huselid 2009). The subject of the articles is employee benefits. Leibs’ article describes the value of companies providing good employee benefits. Leibs’ explains businesses providing a good employee benefit package experience a substantial ROB, or return on benefits. Employee benefits help attract good employees, retain them, and increases productivity (Leib 2014). Bluestein’s article describes what companies shouldRead MoreEmployee Compensation And Benefits Package Essay905 Words   |  4 PagesIntroduction – Employee Compensation and Benefits This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describeRead MoreEmployee Compensation And Benefits Packages Essay1245 Words   |  5 PagesEmployee Compensation and Benefits Organizations create compensation and benefits packages in order to attract the best talent. In today’s global economy it is imperative that organizations offer compensation packages that are competitive in order to recruit the very best talent in the world. However, in order to be successful, compensation packages must align with business strategies. Authors â€Å"Mathis, Jackson, and Valentine (2014) explain that an effective total rewards approach balances the