Employee Benefits

Employee Benefits

Introduction

For an employer, an employee is an asset who works towards development of an organization. Human Resource Management is responsible for managing healthy employment relationships. In this regard, “Total Rewards” is a concept used for motivating, and retaining employees. Rewards and recognition are two elements, contributing towards employees' productivity. Therefore, HRM consultancy provides plan for improving employees' commitment & dedication to their work. There are many things to consider when devising an employee benefit plans. The most important factor is the available funds for such plans. An organization has to make efficient use of the available funds while developing a reward program. Further, it is essential that an employer realizes which areas of employees' concerns need immediate attention. For instance, it can be career development, learning, compensation, and other benefits.

This report presents three cost-effective employee benefits, in order to motivate employees. These benefits are expected to improve the bottom line of the employer.

Employees Benefits Plan

Healthcare Benefits

Currently, employers are focusing on “Voluntary benefits” to attract employees. From the perspective of an employee, these benefits require little funding by the employer (Atkinson, 2004). An employee receives great motivation when he feels that his organization takes care of his personal well-being. Most of the employers offer health coverage as per the requirements of HIPPA (Simon et al, 2006). The guidelines can be followed to plan a new dimension of Healthcare benefits. In this regard, introducing the facility of an “on-site” clinic can eradicate discrimination issues pertaining to employees' health. An organization can set up an on-site clinic, where health professionals can be consulted for healthcare issues. It has been observed that employees find little time to consult from healthcare professional during their working hours. With an on-site clinic, an employee would be able to consult a health professional within the ...