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Alexa McHenry
April 7, 2016
the more it must pay for administrative overhead. The cost of health
insurance has steadily risen over the years. This makes it less
affordable for the
between 1946 and 1964. Lastly are the traditionalists. This group was
born between 1925 and 1945. Having this diverse group of people in
the workplace means that employers may have to consider the various
needs of those age groups. Allowing the
Benefit Importance
Percents
35%
30%
25%
20%
15%
10%
5%
0%
Benefits
It came as no surprise that vacation time and pay raise ranked highest.
Employees are looking for time to spend with their family as many are
raising children or
caring for aging parents. This combined with the cost of doing so
makes sense that they would need a pay raise (business.time.com,
top reasons why americans stay at their jobs, Belsky, August 31,
2012). What about offering perks or rewards? Employers can offer low
cost options such as floating holidays, an employee of the month
parking space, company paid lunch breaks, casual Fridays, etc.
creating a culture within your company that makes employees feel
valued can also be a great tool when considering or creating a benefits
package. Once an employer has arrived at a plan that suits them and
their employees, they should let employees know about it. They can
hold enrollment meetings, encourage participation, outline the benefits
in the employee handbook, and communicate to the employees what
the total compensation package is. This way both the employer and
the employee are aware of the potential added value that having
benefits can bring to the working relationship.
What is the number one reason people continue working for
their employer? Is it the pay? The benefits? A lack of better options?
Todays sluggish economy and unemployment rates, are the obvious
answers. Although they are not the correct ones. According to a new
survey commissioned by the American Psychological Association,
which contains a number of revealing insight into employee
motivation, that should be of interest to corporate managers and
governmental policy makers. This is what employees said: I enjoy the
work I do (67%), my job fits well with the other areas of my life (67%),
the benefits (60%), he pay (59%), I feel connected to the organization
(56%), my coworkers (51%), my job gives me the opportunity to make
a difference (51%), my manager (40%), there
employees the employer can benefit greatly. They can save money,
have better production, and keep their employees happy easier.
Therefore, fringe benefits do help employees work more
i.
efficiently, and it keeps workers satisfied and working longer for the
same employer.