Question 2:
A company cannot be successful without the support from the employees. Therefore, there is a need to maintain a good moral workforce and provide different benefits to the employees. Benefit programs are essential and critical for employees especially when social security insurance does not cover short-term disability that results from a job-related accident. There are a lot of jobs with high risk where employees can get injured such as roofers, painters and electricians (Snell, Morris, & Bohlander, 2016, p.431). Employees might not feel safe or comfortable if their insurance does not cover their short-term disability. It is very important to pay close attention to those employees since there is so much at stake with with the possibility
…show more content…
According the article study by Mulvaney, FFEBP are employee benefits that extend beyond the requirements established by the Family and Medical Leave Act. (Mulvaney, 2014, p. 461). The Family and Medical Leave Act allowed for employees up to 12 weeks of unpaid work leave for things like child birth, adoption, and workers or family illness. The FFEBP programs are split up into four categories: 1) Dependent Care Support, 2) Flexible Work Arrangements, 3) Leave Programs and Time Off, and 4) Work-Family Stress Management. The first category, dependent care support includes perks such as on-site child care, after-school programs, and eldercare referral. Flexible work arrangement includes flextime, job sharing, and compressed work weeks. Leave programs and time off include family leave, personal leave of absence, and leave bank. Lastly, work-family stress management includes health promotion, work-family resource center and courses on life balancing. After reviewing the results of FFEBP benefits, the study found that for government workers there was a positive correlation between employee productivity and benefit programs (Mulvaney, 2014, …show more content…
Reasons being their job in an organization or a corporation is very crucial and not easy to replace. Due to this, companies often go to great lengths spending hundreds of thousands of dollars searching and recruiting for someone who is able to help their company grow in value and continue to be successful. In order to attract the best and highly skilled employees, companies cannot just focus on their salary offers anymore. Competitive hiring practices are now focusing on various compensation and benefit packages that will make potential employees favor them to other competitive companies (“Executive Benefits and Compensation”, 2016). Companies must offer benefits that will have a positive effect on the organization without being counterproductive, meaning offering benefits that employees will use appropriately and will consequently have a positive impact on their effectiveness at work. Some concerns about executive compensation include making business decisions in order to meet business goals under the premise of personal gain in order to receive their incentive (“Executive Benefits and Compensation”, 2016). In order to combat this concern companies should tie the employee’s incentives to the value of their firm
The Family and Medical Leave Act of 1993 (FMLA) provides certain employees with up to 12 weeks of unpaid leave and job protection for childbirth, adoption or foster care; to care for a seriously ill child, spouse, or parent; or for an employee’s own serious illness (Cañas & Sondak, 2011). It also requires that their group health benefits remain intact during the unpaid leave of absence. The employee must have worked for the employer for at least a year and must have earned 1,250 hours of service during the previous 12 months ((Cañas & Sondak, 2011, pg. 70).
The balancing act of family and work can be very difficult at times. At some point in everyone’s life, he or she will need to take time off of work to deal with family matters. The Family and Medical Leave Act (FMLA) of 1993 was created to help employees find a balance between the challenging demands of work and home. This Act allows eligible workers that require time off for personal reasons or family emergencies up to twelve weeks of unpaid leave.
The family faces many challenges and must overcome many obstacles. For each problem that arises there is some type of solution. However, the solution to a problem might not come easily. What might be beneficial for one family could be a problem for a company or another family. In modern America men and women are both encouraged to be in the work place and to prioritize their careers. Jobs have become more demanding and time consuming. This stress poses a threat to families, especially new parents. Offering parental leave has numerous benefits for individuals and families, but creates challenges for businesses. This paper will discuss the benefits of parental leave for families, the challenges businesses face because of parental leave, and my
The steady rise of healthcare costs and the ever increasing cost of health insurance premiums are making it harder and harder for employers to pay healthcare premiums for their employees. In the past, it was almost a given that employers picked up the tab for health insurance coverage. The health coverage was usually exceptional with little or no money paid out of pocket by the individual for the insurance premiums. Those appear to be the “good old days”, with fewer and fewer employers shelling out money for health insurance premiums and demanding a larger percentage to be paid by the employee. Other employers are simply unable to financially provide healthcare coverage for their employees and have stopped all together.
Offering employee benefits is one way a company must competes in today’s marketplace to retain old employees and attracts new ones. These benefit packages may range from offering basic health insurance to additional discretionary and perk benefits such as vacation and retirement packages. Benefit packages are often a large portion of employee costs and Federal mandates require an employer to carry and offer certain benefits even if they offer nothing else. Federally required employee benefits make up approximately a quarter of the costs associated with employer offered benefit packages. Some of these mandated benefits include Social Security, Worker’s Compensation Insurance, and the Family Medical Leave Act.
“The Family and Medical Leave Act provides certain employees with up to twelve weeks of unpaid, job-protected leave per year.” FMLA is to help employees balance their family and work responsibilities. FMLA only applies to employees who have met certain requirements. “Some requirement that must be met are the employee has to work for a covered employer, has worked 1,250 hours prior to the start of the leave, work at a location where the employer has 50 or more employees within 75 miles and has worked for the employer for twelve months.” Some reasons to take leave include the birth of a son or daughter, placement of a son or daughter with the employee for adoption or foster care, to care for a family member who has a serious medical condition,
No one ever goes to work and expects to get injured. Workplace accidents and injuries in the United States, cost employers $62 billion, according to the 2016 Liberty Mutual Workplace Safety Index (Donlon, 2016). Of the $62 billion, 82.5% of those injuries can be credited to 10 of the leading causes (Donlon, 2016). Some of the most serious are nonfatal workplace injuries, yet they still cost companies millions of dollars every year. The workplace injuries impact more people involved than just the person who was hurt and the employer. The employees’ family can be affected by the financial burden, medical costs, and the physical, emotional and psychological wellbeing of the employee. The employer and its employees are also affected. In addition
...r investigate what sort of rewards or fringes would their employee’s desire compared to the old method of monetary incentives for the beneficial for the company”.
...evel is inclined to encourage disabled employees to return to work. Another potential problem is that agencies must deal only with the one authorized "insurer." In most private insurance markets, the amount of prevention services is used as a device to attract and retain customers. It is not clear whether the Office of Workers 'Compensation Programs has any incentive to offer these key services. Occupational health and safety is as important a regulatory issue today as it was in the early 20th century, when it was at the vanguard of government intervention in the labor market. We should clearly be using all available devices for improving the operation of the labor market. Because employees will be compensated for their occupational injuries, it is necessary to take full advantage of the financing of that compensation system in order to create incentives for prevention. The financing arrangements now in use are quite strong, but reinforcing prevention incentives has never been viewed as their primary purpose. Recognition of this preventive incentive role and attention to its improvement will serve to improve the occupational health and safety of American workers.
Most importantly, increased safety in the workplace can lead to fewer workplace injuries and casualties. Workplace health and safety issues are different today than they were at various points of time in Canadian history. Employers are not responsible for injured workers or accidents that happen in the workplace. The main legal doctrine of Assumption of Risk governs workplace hazards, which requires workers to assume and accept all the risks associated with their occupation (Share, 2012).
Some of the advantages of using merit pay include motivation, employee retention, self-determination and differentiation. “To motivate employees effectively, the size of the merit increase must be significant enough to make a noticeable difference to employees” (Baker). By using merit pay to motivate employees any merit increases the performance of the workers. Merit pay also determines the awards that the employees get. “Ultimately, to be successful, the merit pay program must ensure that awards provided to the best performers will be substantially greater than increases awarded to average, or below-average
Management spends a huge amount of time to design incentive systems and schemes to motivate their workers and to ensure they work in their best possible manner. Motivating workers by giving them decent pay helps in winning employees heart to make the work done efficiently, significantly and effectively. The most effective way to motivate people to work productively is through individual incentive compensation (Pfeffer, 1998). An attraction of getting more is a powerful incentive to people for high performance. While most people agree that money plays a major role in motivating people, in organizations there is a widespread belief that money may also have some undesirable effects on morale.
To sum it up, the average employee is not just attracted to money, they also want lifetime benefits while they are in the
To attract and retain high quality talent, an organization should design a compensation package to appeal to qualified applicants. An organization should address pay, benefits, and non-monetary rewards. In return, the employee should perform to a level that benefits the employer. A high-quality compensation package can make your organization more competitive in the recruiting process.
The total pay package has a direct impact on the successful recruitment, selection and the retention of staff within any organization. This pay package is critical for any business to remain competitive in today’s business world. Competitive compensation packages are vital to both large and small organizations as they encourage the retention of talented staff.