Discussion Post: Benefits Programs
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Discussion Post: Benefits Programs
One of the critical facts that influence decisions about planning an employee benefits program is the external markets. Case in point, Syracuse depicts a declining market characterized by demand being surpassed by labor supply. Case in point, in the short run, it will be plausible to save money on both wage costs and benefits. Researchers articulate that counting benefits or choosing to pay below the market standards will spare the firm’s money without initiating more massive turnover (Navarro-Abal et al., 2018). In any case, the fact that employees feel the market conditions better, the better employees within that market will go for any principal opportunity available. Second, another inquiry approaches benefits for a more seasoned worker. Employees ought to be inquired as to whether the apparent type of benefits meets their requirements and whether a move in a few assets to a single one or both of these categories may be invited (Cooper, 2002; Román et al., 2017). Therefore, HR managers should keep in mind that the general costs must be controlled because if there are any increases, payouts are subject to reductions elsewhere.
Conclusively, research indicates that HRs are now strategically leveraging employee benefits as a retention and recruitment tool (Antoni et al., 2017). Furthermore, some benefits such as health benefits, retirement benefits, and leave benefits are highly valued by employees, as such enhancing these benefits will boost employee motivation, increase the influx of recruits, and retain more workers. Research further indicates that another facet of benefits and their relation to employee motivation is how they can play into their lives outside work and the rewards that employers reap as a consequence (Caillier, 2013). This inherent connotation offers positive reinforcement for workers’ work experience and additional motivation to perform better at work.
References
Antoni, C. H., Baeten, X., Perkins, S. J., Shaw, J. D., & Vartiainen, M. (2017). Reward management: Linking employee motivation and organizational performance. In Journal of Personnel Psychology (Vol. 16, Issue 2, pp. 57–60). Hogrefe Publishing GmbH. https://doi.org/10.1027/1866-5888/a000187
Caillier, J. G. (2013). Satisfaction With Work-Life Benefits and Organizational Commitment/Job Involvement: Is There a Connection? Review of Public Personnel Administration. https://doi.org/10.1177/0734371X12443266
Cooper, M. J. (2002). Employee Perceptions of Award and Incentive Programs. Journal of Promotion Management, 8(1), 35–51. https://doi.org/10.1300/j057v08n01_04
Navarro-Abal, Y., Climent-Rodríguez, J. A., López-López, M. J., & Gómez-Salgado, J. (2018). What Does Work Signify for Those in Search of Labor? Meaning of Work for the Unemployed Who Attend an Employee Orientation Program. Frontiers in Psychology, 9(SEP), 1788. https://doi.org/10.3389/fpsyg.2018.01788
Román, C., Millán, A., Millán, J. M., & van Stel, A. (2017). Does the Effectiveness of Employment Incentive Programs Vary by Firm Size? Journal of Economic Issues, 51(1), 222–237. https://doi.org/10.1080/00213624.2017.1287512