This assignment is an essay. Provide detailed answers in APA format, to include
ID: 443087 • Letter: T
Question
This assignment is an essay. Provide detailed answers in APA format, to include references. It requires a minimum of 500 words.
ASSIGNMENT: You are a small business wanting to establish a benefits program for your employees. What elements should you consider to ensure that the program is a success for your employees? Describe how you could use benefits and services to improve your organization's productivity.
Grading Breakdown:
20 Answered the assignment/essay questions and used relevant vocabulary
5 Included introduction, body, and conclusion
5 Included reference(s)
5 Length no less than 500 words
5 Integrated research and used external citations and resources
5 Rules of grammar, spelling, word usage and punctuation are followed.
5 Used APA style and format--one inch margins, double space, title page, reference page
50 Possible Points
Explanation / Answer
EMPLOYEE BENEFIT PROGRAM
ABC(Author name)
XYZ University.
Abstract
The non wage portion of the Compensation is the benefits which an employee gets. It plays an important role in the overall culture and functioning of the organization. It is the reward which the employees get apart from their wages.
The benefits that are provided can be mainly classified into Protection, Time off with Pay and Services. The benefits that an organization choose must be useful to all the segments of the organization.
EMPLOYEE BENEFIT PROGRAM
The non wage portion of the Compensation is the benefits which an employee gets. It plays an important role in the overall culture and functioning of the organization. It is the reward which the employees get apart from their wages.
The main reason to have a benefit program in the organization is to find and keep highly qualified staff.
Benefit program equally benefits for both the employee and the employer.
For the employer it eases the financial burden as it manages high-risk coverage at low costs. And for the employee it gives peace of mind which increases their efficiency.
So, choosing a proper Benefit plan is very important.
Since it will be the first time a benefit plan would be introduced a survey must be done as to what type of a benefits the employee are looking for.
Every employee should be asked to choose any two from the below mentioned benefits:
1) Over time premium
2) Attendance bonus
3) Year End Bonus
4) Medical insurance
5) Life insurance.
We will also ask the employee to give a reason for the selection.
Once the voting is done, the highest one will be introduced. If there is tie than the higher mangers will decide. Also the employees will be informed that as the organizations grows more benefits would be introduced.