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Managing Employee Retention
Managing Employee Retention
Employee retention research summary
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The long-term benefits of a comprehensive benefits plan by far outweighs the overall cost, which is why WTN goes out of its way to ensure that we provide a competitive benefits package for all full-time employees and part-time who work at least 25 or more hours per week. The number one driver for attaining this particular benefits plan is to attract and retain highly qualified employees. The marketing sector is highly competitive and with the increasing trends of entrepreneurship, employers are feeling increasingly pressured to be more inventive and generous with their benefits package which is why WTN has elected to include a Health Spending Account and a Fitness Subsidy Allowance for both our full-time and part-time employees, as well as
This benefit-sacrifice ratio helps Planet Fitness to attract new customers, because, for customers, they see good value membership with high benefit-sacrifice
Commonly associated with pay for employees, benefits is the second biggest obstacle for management. Like Volkswagen starts employees off at the basic pay the unions would achieve, a similar benefits program should be implemented (Greenhouse, 2014). The passing of the Affordable Health Care Act has made it possible for many citizens to receive coverage but it is basic at best. GMFC should create a plan based off of the Health Care Act and unionized plans and allow for extras to be added on. This allows for employees to pick the benefits package that works best for them.
Instead of trying to persuade customers to buy what the LA Fitness has already produced, the marketing department has decided to produce a product for families not just individuals. The corporation has decided to do this through research. Consumer needs and wants became the firm's primary focus. This consumer-orientated marke...
Next, there are working hours to consider. The OCO tells that most welders work full-time. Many manufacturing firms have 2 or 3, 8 to 12 hour shifts each day to continue production around the clock if needed. As a result, welders may work evenings and weekends (The OCO). In addition, the working environment includes different variables.
Many employees when looking for a job or deciding whether to stay with their current employment often considers the employee benefits the company offers.
The organization is creating an effective system that would enhance employees’ growth and help them meet the needs of the workforce. To achieve better healthcare, the organization is developing innovative ways of recruiting skilled personnel. In a bid to build value for its employees, Banner Health System is presenting them with opportunities that build their expertise. Employees have an opportunity to transfer between different Banner facilities and still manage to retain their seniority and benefits. The organization is leveraging employee skills and creativity via the President’s Grant Program. The program offers funding to employees who have innovative ideas that are beneficial to the heath system. The focus of the program includes improving teamwork, leadership development, continuous, learning as well as innovation in all locations. As the organization grows, it looks forward to offer employees discounts on health coverage and other insurance
The author explain that most individuals look forward to a guaranteed paycheck, medical benefits, work compensation, fringe
Thank you for the opportunity to share more about HealthyWage and our challenges. We work hand in hand with Weight Watchers; they actually take advantage of our challenges and run them internally. HealthyWage is working directly with Weight Watchers so that it is an integrated promotion of weight management programming. You can run our challenges in parallel to other challenges that you may have in place. In addition, HealthyWage can be a great marketing vehicle to make your participants aware of all the resources they have available through your health plan and wellness program to help them lose weight. Accordingly, HealthyWage results in huge engagement by employees, (most Ceo’s participate), and results in huge behavior change.
Determine the Compensation Level: Although Susan’s plan to “just do what her competitors are doing” (Nelson Education, 2013) may not have been the best approach to follow, it is in The Fit Stop’s best interest to match their compensation policy to those business’s similar to them. There is no need for The Fit Stop to lead with the best compensation options around, but lagging with the compensation could repel employees and could push them towards working for a competitor. Evaluate the Proposed Strategy: Affordability of these theoretical applications is not obtainable within the first couple of years of business.
Actively engaging your employees in healthy choices can create a happier workplace, and it’s a smart way to run a business. The fact is, healthy employees’ use less medical health services, and takes less sick days, potentially saving your company money. Contact a Box Insurance Agency agent for your business insurance needs. Our Fort Worth Insurance Companies offer insurance, retirement planning, and investment services for securing the future of your business. Read on for tips to increase the workplace wellness of your employees.
The separation of employees' work life and personal life is no longer clearly defined by a 9-5 schedule, time spent in the office or proximity to coworkers. The advancement of technology has blurred the line between work life and personal time. This blurring and overlapping of work and personal time has created a new environment to which company provided benefits much adapt. The evolution of benefit programs must support employees combined work/life overlap and must encompass both areas. There are no longer benefit programs defined by the traditional package of health coverage, dental, vision, vacation, life insurance and 401K program. Employees want and need more from their benefits programs including incentives to attract them to programs, motivate them to use the benefits and ensure healthy choices are adopted in their households. As Dave Rahill, President of Mercer's Health & Benefits business, states in the February addition of On the Clock, "This challenge puts even more pressure on employers to deeply understand and communicate the value of various benefits to their employees so they can make smart choices" (Guillaume, 2013). Employers must broaden their focus beyond just the employee to include the entire family to ensure improvement of employees lifestyles. This paper will discuss the evolution of employer benefits toward a focus in healthy living via incentives provided to employees to ensure their utilization beyond the work environment. Through analysis of employee utilization of both traditional and wellness benefit programs at Conversant the current incentives leading that utilization are evaluated and recommendations for improvement. Evaluation of Conversant’s incentive program designed to drive employee be...
Coca-Cola HBC has 36,362 employees among those 87% are highly engaged based on the latest statistics recorded on their website (Coca-Cola HBC 2016). The company has developed new set of corporate values two of which specifically designed to address the concerns observed during their latest employee survey including, work-life balance and providing more opportunities regarding “employee input into the business”. The company has tried to
Purpose of the report: The aim of this report is to analyze various “wellness plans,” their advantages and disadvantages both to the employee and to the employer. This will give a guide on which wellness plan is the most suitable to implement and give recommendations to Coca-Cola company on which wellness plan is the most suitable to implement.
There are numerous benefits and companywide payoffs for implementing fitness programs. First, the implementation of company-wide health and fitness programs can result in reduced costs of insurance and employee health care cost. Employers are beginning to actively seek candidates that are in better physical shape because they do not have to spend as much on health care fees. With just a limited amount of working out, studies show that a significant positive impact can be made on ...
Another large debate in the issues and impacts of obesity is the responsibility of employer’s. Especially for those whose obesity comes from a sedentary lifestyle. Or perhaps need the preventative measures of keeping obesity at bay. A hot topic on the rise is whether or not employers should be mandated to give employees a work-out period in their schedule. The employers could offer employee’s incentives for utilizing resources (a company gym, discounted memberships, and dietician, walking a company track) and by using the resources keep costs low. Though initially it could be costly to take on the responsibility to offer extra incentives to employee’s it could offer long term potential savings. (Villareal, Apovian, Kushner, and Klein 2005) Those whose companies offer various programs and actively engage in them express more happiness, productivity, a greater quality of life, and overall better health. Better health allows for employee’s to serve their employers better. They use less sick pay, keep insurance premiums low, and are more likely to be in tune with their daily job. So while the initial cost may be high, the long term financial gain of a happy, healthy, productive team is hard not to invest in!