Instructions
Supporting Lectures:
Review the following lecture:
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Week 4 Project
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Managing Employee Benefits
Introduction
Consider the current trends in managing employee benefits. Trends include the use of benefits to build a sustained competitive advantage, the costs of benefits, communication about benefits, and unique benefits.
Research various companies and create a list on what they offer as a variety of innovative healthcare programs for employees. The desired result is well-educated and healthy employees.
Consider your current or previous organization and its healthcare program.
Tasks
- Analyze how you would rate the innovative programs implemented in these companies and identify if there is anything these companies could have done better to promote healthcare among employees.
- Explain what kind of innovative programs you think organizations should offer employees.
- Summarize if you were an HR professional, what you would do to promote healthcare in your organization.
- Describe if you think offering home ownership benefits will improve employees’ work satisfaction. If so, why?
To support your work, use your course and text readings and also use the
South University Online Library
. As in all assignments, cite your sources in your work and provide references for the citations in APA format.
Submission Details
- Create 2- to 3-page, excluding title and references Microsoft Word document.
- Name your file as SU_HRM6999_W4_Project_LastName_FirstName.
Human Resources
Benefits and Services
So far, we have come to realize that salaries (or wages) and incentives are very important. The third
important and major pay component to understand is employee bene�ts. The main topics associated
with this are pay for time not worked bene�ts, insurance and retirement bene�ts, employees’
services bene�ts, �exible bene�ts, and ways to use bene�ts for improving engagement and
performance, which is the completion of the overall employee compensation.
The Big Picture
In my younger days, the only thing that mattered to me was pay. How much money I could make was
my motivating factor. Years later, I realized that the overall total bene�t package was as important as
my rate per hour salary.
Ancillary Service Benefits
Outside of compensation, �rms also offer other competitive bene�ts with marginal, minimal, or no
cost at all to the employees. There are several and too many to mention. Research about competitive
bene�ts in order to gain some exposure to some of these bene�ts.
A �rm’s bulk of expenses fall in the realm of wages or salary and tips (vacation, sick time, personal
time) and all the other federal, state, city and county tax deduction requirements and health or
medical, dental and optical bene�ts expenses.
Firms seeking to establish a presence in the market and that are determined to be an employment of
choice in the community are beginning to promote such additional services.
Total Compensation Package
HR Benefits and Practices
Developing a robust bene�t package is a monumental commitment to hiring and retaining long-term
employees. Managers need to continue and survey the market and benchmark the positive qualities
that the employees would appreciate while not affecting the �rms’ bottom line. Some �rms provide
online surveys and ask employees to offer other service suggestions. With our changing
demographics and the increasing population of employees, incentives are considered good to
evaluate and offer.
Additional Materials
From your course textbook, Human Resource Management, review the following chapter:
Bene�ts and Services
From the South University Online Library, read the following articles:
Financial Incentives and Group Decision in Motivating Change
(https://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?
https://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?sch=suo&turl=http://search.ebscohost.com.southuniversity.libproxy.edmc.edu/login.aspx?direct=true&db=eue&AN=16488952&site=eds-live
sch=suo&turl=http://search.ebscohost.com.southuniversity.libproxy.edmc.edu/login.aspx?
direct=true&db=eue&AN=16488952&site=eds-live)
Does Pay-for-Performance Strain the Employment Relationship? The Effect of Manager Bonus
Eligibility on Nonmanagement Employee Turnover
(https://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?
sch=suo&turl=http://search.ebscohost.com.southuniversity.libproxy.edmc.edu/login.aspx?
direct=true&db=pbh&AN=114491621&site=eds-live)
https://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?sch=suo&turl=http://search.ebscohost.com.southuniversity.libproxy.edmc.edu/login.aspx?direct=true&db=eue&AN=16488952&site=eds-live
https://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?sch=suo&turl=http://search.ebscohost.com.southuniversity.libproxy.edmc.edu/login.aspx?direct=true&db=pbh&AN=114491621&site=eds-live
