Category: Employee Benefits

Introduction

Training has become an important part of human life. Many companies apply to training of their employees in order to increase their knowledge in the sphere, top promote their skills and to encourage them for personal development as the professionalism of the staff is a guarantee of a success of the company. Human resources are considered as one of the most important factor for the company successful development, therefore, much time and effort is devoted to the human resources in the company. However, online training has both advantages and disadvantages.

On the one hand, online training due to the development of the innovative technologies allows people to increase their knowledge, improve their skills without leaning their working place. Employees are able to complete online training whenever they want that increases their interest and the desire to complete the training effectively. Time of driving to the place where training is held is also saved. Online training helps employees to become familiar with the innovative technologies which may be applied into practice in the company.

However, there are a number of disadvantages which help many employees to refuse from this type of training. Online training cannot involve group practices which are usually inevitable parts of training in real life. Personal contact is really important, but people are unable to feel it while online training. Online training does not presuppose the monitoring of the progress on the regular basis which reduces the effectiveness of training and does not give the expected results. Therefore, there are two sides of online training, advantageous and disadvantageous which help the employers to make up a decision whether to refer to online or traditional training.

Advantages of Online Training

The main advantage of online training is that it helps train employees who are remote from the usual place of work. Such specifics of online training help all the employees to become trained, even though some of them may be on a business trip (Allison 2003). Many specific developments are based on this particular feature of the online training. Employers actively use it in order to make sure that all the employees managed to train their skills.

The importance of the on time delivery of the information and acquiring of the appropriate skills in the modern condition of constant competition is important. The innovative technologies do not stand on the same place and in case staff is unable to cope with some tasks which apply more innovative knowledge the company may lose its profit. Online training is effective when all the innovative technologies are involved. The use of chart rooms, speakers and web cameras may help the employees to appear in a web room and imagine that they are in one and the same place.

It is easy to communicate with other employees and a professor while teaching if training is scheduled and employees have a freedom in choosing the time when they want to train. All the employees may be involved into training at one and the same time without lengthy absence from work as different employees will complete the task at one and the same time and will stay at their working places (Huggett 2007).

Bonk (2002) tried to conduct personal research and consider the main reasons why employees want to take up online training. Easy access in learning ‘auditory’, growth in employee skills, ‘ability to track learner progress through a learning management system’ (Bonk 2002, p. 47), increased job performance, standardization, interactivity, learner satisfaction, online tech support, improved learning, and employee retention are considered as the most popular responses among employees.

However, there are the variants offered by the employees as additional factors which that believe add to the advantages of the online training, they are “cost savings, reduced travel time, greater flexibility in delivery, and the timeliness of training” (Bonk 2002, p. 48). These factors are mentioned by many different scholars in their research that it becomes obvious that he results may be generalized and used as the proved facts. Media and other additional advantages of online learning are also effective as they help employees understand the training task better (if the procedure is presented in the video lesson). Moreover, help may be taken any time and the results of the training may be checked at the desire of a trainee (Shank 2011).

Teleconferences have already become the part of the business world (Moore & Kearsley 2011). The use of this technology while training may create the vision of the personal presence, even if it is not correct. However, in this case people will have to lose one of the advantages of online training which is the use of the sources any time when one desires. Each employer should understand what is going to be more effective for his/her employees and choose the theoretic ground which is more appropriate for them.

Therefore, having considered the advantages of the online training the specific procedure of such type of training should be discussed. The employer should consider whether the employees are familiar with the innovative technologies and consider the level of their awareness as this is the basis of the selection of the online training type. The instructions should be explained both in a traditional way and by means of online software. Each employee should be given a deadline and a freedom in completing the training task. The employees should keep in mind that they are going to be monitored on the constant basis. Apart from the mentioned advantages of the online training each person is offered a personal approach as in case of some problems with task completion or apprehension of the material each trainee is going to be presented with the instructions individually.

Disadvantages of Online Training

Some scholars point at the low effectiveness of the online training in case the algorithm of performing the task is too complicated (Moraesa & Machado 2004). Many employees do nota have enough time or do not want to spend time on reading too lengthy or complicated instructions, therefore, if they see that algorithm is too long, they just skip to performing the task being sure that they will be able to understand the task in the process of performing it. It reduces the effectiveness of training as employees do not focus on performing the task effectively, but they try to believe it to be completed at least correct. Video lessons may be effective, however, they should be properly composed, without lengthy and complicated instructions.

Shea-Schultz and Fogarty (2002) point to the problem of cultural differences. Speaking about a global company with multicultural environment, online training may cause a number of problems for some employees if they are not presented a specific training course and if the tasks they are to perform may contradict their cultural peculiarities. In this respect, the language problems may appear. If the online training is created for all the employees and no one follows the progress and success or failures of the staff, those who have English as a second language may suffer from failure to understand something and the inability to contact the instruction who cannot be available 24/7.

Palloff and Pratt (2011) consider a lot of advantages of online learning making it a perfect instructor, however, several serous disadvantages are still noticed. Online training instructor cannot be as flexible as the real group training classes, or traditional one. When a person refers to online training, he/she may have an opportunity to reread or watch the instructions one more time, but people are unable to get another version of the instructions.

When a group of people gathers in the room an instructor may explain the instructions by means of applying to different words and explanation, while online training usually offers only one specific variant. Therefore, if one fails to check understand the instruction on the web appropriately and the repetition of the instruction dos not help, the training effectiveness may be reduced. Palloff and Pratt (2011) also consider that online training does not presuppose discourse which may be an important part of understanding the most effective way for teaching new approaches or finding the most effective ways.

Pérez Cereijo (2006) finds the same problem in asynchronous web-based courses. When employees are offered to save time and money on getting to the place of training and do it on the most appropriate time they want to, the trainer should remember that the progress of different employees will be absolutely different. The problems may appear during the work when some employees will already apply to the new strategies they have already managed to acquire from the online training on the individual basis and others will not understand what is going on. Such model for training is absolutely inappropriate when people have to work on one and the same project and they are presupposes to apply to the same strategies. The training experience should be balanced and completed simultaneously.

One more problem which exists in reality small companies is the lack of experience among the trainers and trainees (Wilson 2005). Innovative technologies may seem a real problem for those who have not worked in the sphere. There are a lot of different programs available on the Internet and which may be useful for those who can work with them. However, if a trained used to the traditional system of training and applies to the online training without special personal learning, the failure is obvious. The advantages of the online training in this case become its disadvantages. Online training presupposes the change of the human resource strategy, the intervention into organizational issues and the reconsideration of the social practices. Therefore, Wilson (2005) is sure that it is impossible to start online training successfully without additional preparations.

Thus, the disadvantages of the online training are numerous and they increase if the trainer does not have appropriate knowledge and skills in training staff by means of World Wide Web. The global tendencies in business may also become a barrier on the way to the effective online training. Taking in consideration that online training is not that effective as it should be, trainers should not refuse from the innovative technologies in traditional group training. Different media files and computer simulations as the part of training may diversify the training of the staff and increase their interest in training courses.

Conclusion

Therefore, it may be concluded, that online training has two sides, positive and negative. The possibility to apply to the advantages of online training and the avoidance of the disadvantages will help the company to complete the human resource development on the highest level. All the advantages of the online training are directed at the conditions of the modern world where people do not have much free time, when they have to adjust to the surrounding world and spend extra time effectively in different situations.

Even though that many scholars point to the absence of the personal interaction while online training, schedules classes and the use of speakers and web cameras may reduce this problem to minimum. Innovative technologies and human desire to apply it into the business and every day world as much as possible creates all the conditions for successful implementation of the Internet. Even though there are some specific difficulties, it is impossible to imagine even traditional group training without media or other means of innovative technologies. Therefore, most employers are interested in online training, but not all companies are ready to skip to the online training courses at once due to the absence of the technological support and enough knowledge.

Reference List

Allison, S 2003, Method and apparatus for skills assessment and online training, US Patent 6546230.

Bonk, CJ 2002, Online training in an online world, Jones Knowledge, Inc. and CourseShare.com. Web.

Huggett, C 2007, Simple, Effective Online Training, New York: American Society for Training and Development.

Moore, MG & Kearsley, G 2011, Distance Education: A Systems View of Online Learning, Stamford: Cengage Learning.

Moraesa, RM & Machado, LS 2004, ‘Using fuzzy hidden Markov models for online training evaluation and classification in virtual reality simulators’, International Journal of General Systems, vol. 33, iss. 2-3, 281-288.

Palloff, RM, & Pratt, K 2011, The Excellent Online Instructor: Strategies for Professional Development, New York: John Wiley & Sons.

Pérez Cereijo, MV 2006, ‘Attitude as Predictor of Success in Online Training’, International Journal on E-Learning, vol. 5, no. 4, 623-639.

Shank, P 2011, The online learning idea book: proven ways to enhance technology-based and blended learning, New York: John Wiley & Sons.

Shea-Schultz, H, & Fogarty, J 2002, Online Learning Today: Strategies That Work, New York: Berrett-Koehler Publishers.

Wilson, JP 2005, Human Resource Development: Learning and Training for Individuals and Organizations, New York: Kogan Page Publishers.

Abstract

This paper focuses on identifying the workplace benefits that are valued by the employees most of all and that are actually useful to retain them effectively. The paramount purpose of this research is to reveal the mentioned benefits through the thorough literature review published within the last three years as well as the discussion. The study starts with the introduction and the background of the employee retention problem, thus clarifying that the role of non-monetary (or indirect) benefits increases rapidly. The majority of the reviewed sources show that modern employees value change, comfortable workplace, professional growth, the opportunity to learn continuously, and other motivational benefits. On the contrary, one of the studies indicates that the employees prefer stability and steadiness at their work.

Nevertheless, the situation in the United States is that the absolute majority of employees expect indirect benefits that significantly enhance retention rates. The paper then discusses the collected data and provides some essential issues regarding the employees’ attitudes and aspirations. The section of recommendations focuses on a hypothetical company and clarifies how leadership and management should act to retain employees based on the identified benefits. It is emphasized that not only the accessibility of indirect benefits but also their representation and provision matter.

In particular, some communication tips are provided to help an employer to attract and retain employees successfully. The conclusion summarizes the key points of the research revealed throughout the paper and presents the concluding statement regarding the given topic. The key finding of this paper is that the employees need to feel valued and comfortable at the workplace along with respect and motivation as retaining strategies.

Introduction

The indirect benefits that are also called intangible motivation as a tool to increase employee loyalty in recent years are gradually going beyond the traditional methods of rewarding – giving diplomas or providing additional days of leave. They are gaining more importance than merely financial motivation. The indirect benefits include health and life insurance, corporate cars, pension funds, annual leave, and so on. This paper will focus on revealing the benefits that are preferred by the top employees and that work to retain them.

Literature Review

To retain employees solely by increasing wages leads to a deliberate losing of positions and, moreover, it is too costly for the companies. The increasing wages make a temporary effect, and then they almost completely cease to work (Dean & Taylor-Gooby, 2014). Standard benefits for all employees are also not an option since in this case, an employee does not feel that the company cares about him or her. All people are different, and the motives of all are specific. If the company has a group of people or a team that translates the vision of business development, an employer needs to constantly maintain a spark of motivation like team spirit and corporate value.

Today, companies compete with each other in a variety of ways regarding non-monetary benefits to attract and retain their employees. Organizations sometimes have to show remarkable ingenuity, providing more and more intangible benefits to somehow stand out from the background of others. At the same time, several benefits, which a few years ago could be considered a significant advantage when choosing a job, now do not represent effective tools for motivation due to their widespread prevalence (Dean & Taylor-Gooby, 2014).

For example, the importance of voluntary medical insurance tends to be lost since it is difficult to find a serious, developing company that does not provide it. In the same situation, there are such variants of non-monetary motivation as the provision of a comfortable office and the organization of recreation areas, sports, and cultural events, and so on. It is safe to assume that these types of motivation become a mandatory program for all large companies and corporations.

Another scholarly study conducted with the help of the International Employee Benefits Association (IEBA) focuses on the longevity of employee benefits. In particular, the author of the research Zhavoronkov (2015) states that the respondents pinpointed the connections with their families, life history, and predictable decisions. With this in mind, the author claims that the majority of employees, especially those of older age, value predictable decisions, and stability in terms of the conservative approach.

It should be noted that this study results contradict those of the above one. The mentioned study indicates that every person is unique, and he or she may have different preferred benefits (Zhavoronkov, 2015). Therefore, there is a need to apply an individual approach to retain top employees, considering their background and expectations.

A promptly developing body of scientific knowledge indicates that it is also critical to correctly set clear goals for employees. Dau-Schmidt, Finkin, and Covington (2016) point out the common mistake of companies: when developing the motivation of subordinates, management often forgets a very important point – statement of the task and the goal. The procedure for setting goals with the right approach is the most powerful method of motivation as the employees develop an orientation towards achieving results and the performance criteria become clear to them. At the same time, some freedom of decisions should be offered to employees in terms of legal considerations (Dau-Schmidt et al., 2016).

It does not mean that a company should give up its right to decide what skills its personnel should have to maintain competitiveness and what training it needs. Instead, it is a fact that every employee has the right to select the training and acquisition of the versatile professional experience necessary for the perfection of knowledge and skills. The employees have the right to minimize the risk of being in a career stalemate or under the threat of dismissal. In other words, employers and employees are to unite their efforts so that the process of retaining and improving their professional skills goes on continuously.

Human Resource Management (HRM) is an integral part of ensuring proper employee benefits. According to the study by Ko and Hur (2014), managerial trustworthiness and procedural justice are the two key issues that are valued by the employees. The authors state that the above points positively impact an employee’s satisfaction and create negative associations with employee turnover. The strategy for creating a climate of confidence is the only basis upon which it is possible to build commitment. The situation when there is a discrepancy between what is said and what is done undermines trust, generates cynical attitude on the part of the employees, and reflects the contradictory nature of a managerial thought (Ko & Hur, 2014). Trust should be viewed as social capital – a goodwill foundation allowing employees and employers to cooperate.

The term “psychological contract” is widely used throughout the US scholarly community and organizations to study the behaviors of employees in their relations with the organization and form effective personnel strategies and policies (Low, Bordia, & Bordia, 2016). However, more important is not the knowledge of these landmarks, but the understanding of how the expectations associated with them in the conditions of a particular organization affect the behaviors of the employees as well as the development of relations with the employer.

Low et al. (2016) consider that psychological contract as the implied emotional connection between the employer and the employees unofficially includes mutual obligations and expectations that largely depend on employees’ career stages. The above article shows the close relationship between motivation, the productivity of work, employee loyalty, and the preference of the psychological contract. The role of differential expectations in the company is stressed by the authors as a factor affecting their preferences. If one employee values family-orientedness most of all, then the other one is likely to be attracted by career growth.

The core task of companies is to create the most comfortable working conditions for their employees. It should be merged with the corporate culture of a certain company, so that top employees do not have thought of changing their jobs. It may be advantageous to provide employees with more freedom by eliminating the rigid limits of the beginning and the end of the working day. For example, an employer may let the working day start at a convenient time from a given interval, let us say, from eight AM to ten AM. An employee who sleeps and does not want to stand in the morning traffic jams would be able to work with much greater productivity than those who are forced to get up early and work having no time for their breakfast.

If the position and duties of the employees allow it, it is possible to provide them with the opportunity to work from home. Fortunately, employees will not have a limit, and for the company, the home office mode is also an additional benefit due to the reduction of office and administrative expenses. Customized benefits and a comfortable corporate culture – that is what will help the employees and the company to be together for a long time.

It should also be stressed that the trend of blurring the borders between the office and the house is one of the key ones. Bullock, Stritch, and Rainey (2015) single out the general trend of development of non-material motivation: the transformation of the workplace for an employee into a closed system.

A microenvironment seems to encompass all areas of life, including recreation, hobbies, family, finances, health, and so on, helping the employees to remain social activity in the closest possible contact with their work. Probably, in the future in the labor market, the companies that will offer a candidate maximum freedom of action in all spheres of life on the job would have the best specialists.

While offering the employees the indirect benefits, it is critical to ensure proper communication to explain their value and make sure every employee understands the role of the proposed options (Shields et al., 2016). The following are the key points that clear communication strategies in terms of employee benefits:

• adaptation programs in the organization – explaining the organization’s policies to the newcomers as well as the generally accepted procedures and key values, indicating the standards of effective work expected in such areas as quality, customer service, and flexibility requirements (Morgan, 2014);
• stimulation of performance management development processes, which contribute to the harmonization of expectations for performance and regular revision;
• encouragement of the use of personal development plans, which describe the ways to achieve a continuous increase in labor efficiency, mainly through self-regulatory training (Morgan, 2014);
• creation of the maximum possible amount of contacts between managers and team leaders and team members to achieve a mutual understanding of expectations, provision of facilities and conditions for mutual communication, and establishment of psychological contacts (Bullock et al., 2015);
• implementation of a general policy of transparency that promotes the information of employees on all matters relating to them, explaining the causes of the current and possible consequences for employment, development, and prospects;
• development of procedures aimed at working with complaints, disciplinary sanctions, equal opportunities policy, promotion, and dismissal, ensuring fair and systematic implementation of these procedures.

Discussion

The key reasons why employees decide to change their jobs are dissatisfaction with the working environment, the inability to grow, a lack of interest, understanding that in another place they will be able to do better and valued more. The paramount purpose is to understand which components of the benefits package are the most important for employees. Conducting meetings, one needs to draw the attention of employees on the benefits of working in a certain company.

These advantages are to be discussed in advance: for example, career growth and well-coordinated staff of young employees. The individual conversations with the most valuable employees are another strategy to understand what they expect. Frequently, employees want leadership to sympathize with them and pay attention to their ideas and concerns.

Once the preferred benefits are determined, it is necessary to identify goals and objectives for employees to retain them. While granting some extent of freedom in decisions, one should not forget that a person wants to know where he or she is going. However, it is not appropriate to force the subordinates to guess what the employer expects of them. Often such conjectures lead in the wrong direction. A small five-minute meeting will make it possible to prioritize, eliminate doubts, and provide the employee with a sense of confidence.

It is also critical to be closer to the team in general and to each team member. For example, the delegation of some tasks is important and necessary, but letting the employees decide, the employer should stay with them on the same wave. The leadership and management are to keep abreast of all the processes, be interested in the successes and problems of everyone, and then the statement of dismissal is not likely to appear much often.

One should remember that approximately a quarter of employees are dismissed merely because they want to change. If the range of positions in a company is small, it is important to be sure to think about the horizontal growth of staff. This may be achieved through organizing corporate training, expanding the responsibilities of an experienced employee, and entrusting them with the development of a new direction. If the budget does not allow attracting coaches from the outside, it is possible to conduct training inside the company and share experience to promote self-education of subordinates.

Internal communications and comfort are two benefits that also matter. It is unsafe to leave employees alone with their duties and deprive them of feeling part of a larger process. Speaking out loud about the success of the company, thanking the colleagues, discussing with them plans for the future compose the effectiveness of the offered indirect benefits. This will serve as an excellent anchor for retaining valuable personnel. To take care of the employees, it is critical to ensure that they feel comfortable. For example, an employee should not carry stationery from his or her house, and if his or her computer mouse is broken, it is the responsibility of an employer to react immediately. In other words, showing people care and respect allows saving time and avoiding search of new competent candidates.

It is also of great importance to be sure to offer the top employees some alternatives. For instance, the most competent staff may share with others their knowledge and skills. In the mentioned program, it is appropriate to involve seminars, which will be led by representatives of related units. Trying to distract the team from the problem by launching a new project or announcing the preparation of a significant event, for example, the company’s birthday, it is possible to involve employees in the preparation of such an event.

Recommendations

The above literature review and discussion section help to understand what are the preferred benefits of employees, what they want, and how to attract them. To understand how to act, one should first get answers to important questions: What makes your employees happy and satisfied? What motivates them to come to the office daily, solve complex issues, and help you achieve your goals? What do they value the team and management for? For managers, the task with the highest priority is to ensure customer satisfaction.

Considering that employees expect from the business high-quality service, individual approach, and non-standard solutions not only in the overall performance but also in the context of employee benefits, it is essential to employ an individual approach to the top employees. They want to work on interesting projects, know that the company is listening to their opinion, and to be sure that the leaders are interested in their training and development.

It is important to treat everyone as an individual since personalization is important. Before doing something for the employees, an employer should find out what they want. As shown by the research body earlier in this paper, people want to work in an environment where their individuality is valued. It is important to be flexible and ready to, let us say, adjust the work schedule of employees. Perhaps, someone from the team is more comfortable working from home or coming to the office before the rest. In this regard, this opportunity should be given to them. The availability of health insurance, the adaptation package for beginners, and extended maternity leave also matter.

The creation of an extremely simple organizational structure seems to help the top employees to work quickly and efficiently. Therefore, it is important to provide them with the opportunity for personal and professional growth. The studies have shown that many employees emphasize the opportunity to learn and develop a key when choosing a place of work.

More to the point, focusing on innovative training programs and allowing managers to become coaches and leaders who can share knowledge and skills, the company may significantly improve employee retention rates. The idea is to allow the best employees to open their potential and allow them to work in the way they feel comfortable. In other words, a manager should become a trainer, who helps employees to perfect their skills and gives them prompt feedback.

Conclusion

In conclusion, the best companies are interested in long-term cooperation, and they invest their energy and time in the growth of the recruited specialists, especially the top employees. The core benefits target to allow everyone to feel important for the work of the whole team. In case the top employees know that they are valued, can work in a comfortable environment, and realize their role in the common cause and understand that they are making positive changes in the lives of others. This research indicates that the employees value such indirect benefits as the opportunity for both personal and professional growth, adequate motivation, proper communication, and comfort.

At this point, the mentioned benefits may work as retaining strategies. Not only their availability but also appropriate presentation matter. In case the employees feel that they are valuable for the company and that leadership understands the role of their contribution, then the risk of employee turnover is minimal. Therefore, summarizing the answer to the question stated at the beginning of this paper, it is essential to emphasize that the employees do value work environment, recognition, and development, which actually help to attract and retain the top professionals.

References

Bullock, J. B., Stritch, J. M., & Rainey, H. G. (2015). International comparison of public and private employees’ work motives, attitudes, and perceived rewards. Public Administration Review, 75(3), 479-489. Web.

Dau-Schmidt, K. G., Finkin, M., & Covington, R. (2016). Legal protection for the individual employee (5th ed.). St. Paul, MN: West Academic.

Dean, H., & Taylor-Gooby, P. (2014). Dependency culture. New York, NY: Routledge.

Ko, J., & Hur, S. (2014). The impacts of employee benefits, procedural justice, and managerial trustworthiness on work attitudes: Integrated understanding based on social exchange theory. Public Administration Review, 74(2), 176-187. Web.

Low, C. H., Bordia, P., & Bordia, S. (2016). What do employees want and why? An exploration of employees’ preferred psychological contract elements across career stages. Human Relations, 69(7), 1457-1481. Web.

Morgan, J. (2014). The future of work: Attract new talent, build better leaders, and create a competitive organization. Hoboken, NJ: John Wiley & Sons.

NCS: Employee benefits in the U.S., March 2017. (2017). Web.

Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P.,… Plimmer, G. (2016). Managing employee performance & reward: Concepts, practices, strategies (2nd ed.). New York, NY: Cambridge University Press.

Zhavoronkov, A. (2015). Longevity expectations in the pension fund, insurance, and employee benefits industries. Psychology Research and Behavior Management, 8(1), 27-39. Web.

Introduction

Each person has a different set of requirements to his or her job. Among the most basic ones, such as regular salary payments and healthcare benefits, every employee has some specific expectations from the place of work. These anticipations usually differ depending on the person’s age. The present paper will outline the benefits valued by veterans (born between 1922 and 1945), boomers (born between 1946 and 1964), Xers (born between 1965 and 1980), and Yers (born between 1981 and 2000). It is argued that without the appropriate investigation of each generation’s needs and preferences, managers will not reach the relevant level of employee motivation and satisfaction.

The description of benefits

Veterans, whose views on life and work are the most traditional, represent the oldest group of the working population. These workers are known for their loyalty to employers and conformity to rules (Price, 2018). The most likely benefits for veterans include portable health plans and critical disease coverage. These options are a part of indirect financial compensation and cover the expenses not included in direct compensation (Mondy & Martocchio, 2016).

Flexible benefits plans are available for all groups of employees, including veterans (Snell & Bohlander, 2013). For this generation, it is important to know that their benefits will remain the same after retirement.

Some of the boomers’ needs, such as advantageous retirement options, are the same as veterans have. However, this generation is more focused on saving enough money for their retirement and healthcare assurance. Historically, baby boomers did not use to save much, and many of them lack the preparation for retirement (Castellano, 2014). Another important factor of motivation for this generation is the possibility to have a flexible working schedule since they frequently have to take care both of young children and aging parents (Castellano, 2014).

Finally, boomers are becoming more and more healthcare conscious, which leads to the increased need for healthcare benefits (Mathis, Jackson, & Valentine, 2014). Thus, although boomers have some similar requirements as veterans do, these two workforce groups are quite different in their benefit expectations.

Xers are younger than veterans and boomers, so their preferences and expectations are quite dissimilar. For this generation, flexibility is the most important aspect in relation to work (Castellano, 2014). If an Xer is dissatisfied with the schedule, it is highly likely that he or she will quit. Apart from this major requirement, Xers are also concerned about their life insurance and critical illness coverage.

The youngest generation’s representatives, Yers, are best known for their love for freedom. Yers are difficult to manage and do not tend to stay with one company for a long time (Castellano, 2014). To make these individuals interested, such benefits as educational programs and child care might be useful (Mondy & Martocchio, 2016). Also, Yers may get interested in financial wellness tools that will help them to cover debts. This generation’s representatives are loyal to their workplace if they can expect the same from their employers.

Conclusion

Employers need to take care of benefit plans for different generations since the four age groups of employees have particular needs and expectations. Some generations are more concerned with their time-management, while others worry about healthcare benefits. However, one issue is similar about all of the groups: if an employee is not satisfied with the working conditions and bonuses, he or she is not likely to remain in the organization for a long time.

References

Castellano, W. G. (2014). Practices for engaging the 21st century workforce: Challenges of talent management in a changing workplace. Upper Saddle River, NJ: Pearson Education.

Mathis, R. L., Jackson, J. H., & Valentine, S. R. (2014). Human resource management (14th ed.). Stamford, CT: Cengage Learning.

Mondy, R. W., & Martocchio, J. J. (2016). Human resource management (14th ed.). Essex, England: Pearson.

Price, L. (2018). Managing the four different generations in the workplace effectively, efficiently and successfully. Meadville, PA: Fulton Books.

Snell, S., & Bohlander, G. W. (2013). Managing human resources (16th ed.). Mason, OH: South-Western Cengage Learning.

Introduction

Keeping in touch with former employees ensures that employers have access to a valuable talent pool. The workforce structures have changed greatly over time, and gone are the days when employees had long-term careers in one company (Clonts, 2012). With the modern economic challenges, cases of employees leaving one company for another have become a common phenomenon. The workforce groups normally look for new talents and employees are likely to move from one company to another if they anticipate better remuneration and good working conditions. Other ways through which companies are likely to lose an experienced workforce is through retirement and when employees choose to change the workplace at their own will (Clonts, 2012).

The reasons for keeping in touch with former employees

Research by Cathy Clonts, the Alumni web Services’ CEO, shows that employers can still benefit from their former employees if they can keep in touch with them. This is also possible if your former employees left the company in good terms. It is worth noting that experienced employees are the pillar of every organization as far as production is concerned. New and inexperienced employees, though with the required academic qualifications, cannot deliver good services without the guidance of the experienced employees (Clonts, 2012). When a company loses some of its experienced employees hiring new employees or through retirement, the activities of that company are affected. However, employers can still benefit from their former employees by taking advantage of their experiences through other avenues as long as they are in touch with them (Clonts, 2012).

For instance, among the employees, there can be some who left the company due to other reasons and not necessarily moved to other companies. This could include mothers with small babies and other former employees who could have left the company due to other unavoidable reasons such as having a very tight schedule. Employers can still use the experience of such professionals by giving them some tasks on a part-time basis. There can be some former employees willing to work for their former companies on a part-time basis (Clonts, 2012). By doing so, employers will have an opportunity to take advantage of the experience of their former employees.

Another group of former employees that employers can use is the retired employees. These are the most experienced groups among the former employees that companies should keep in touch with. They can be offered short term tasks in the company or work on a part-time basis (Clonts, 2012). The retired group can also be used to mentor the new and inexperienced employees so that the performance of the company is not affected by the departure of experienced employees. Some of the retired employees may be willing to carry out some specific projects in their former companies at reasonable terms than the existing employees. They can also be used by the management to solve workforce-related challenges (Clonts, 2012).

In some situations, former employees may be disappointed in their new workplaces especially those who leave their present jobs to look for jobs elsewhere. Some of these employees may be willing to come back and be recruited in their former companies (Clonts, 2012). Employers can take advantage of such employees by offering them new jobs if their records are clean. It is therefore evident that there is a need for employers to keep in touch with their former employees.

Reference

Clonts, C. (2012). Keeping in touch with former employees ensures access to valuable talent pool. Recruiter’s Practicum, 12-13.

Introduction

Discretionary benefits may be understood as compensation to employees, which is not mandated by the law. Such benefits may involve life insurance, pension plans, maternity or sick leaves, prescription drug insurance, and others. To comprehend the role of discretionary benefits, it is essential to investigate employees’ needs and expectations concerning their work. Employees working for ABC company ask for more benefits, and it seems that their request is justified and relevant.

Discussion

ABC is a middle-sized company that operates in the cleaning industry and has approximately 200 employees. The company provides an average level of remuneration, transportation services, and holiday bonuses. The employees ask about health insurance benefits since they are prone to various diseases such as diabetes, varicose, cardiovascular issues, et cetera. Since many employees cannot afford some vital health services, they tend to visit hospitals rarely, which creates chronic conditions. Besides, employees need wellness programs to restore their health after physical work.

The review of the company and the recent scholarly literature show that there are several options for providing health plans to employees. One of them is to offer high-deductible health plans, including health reimbursement arrangements (HRAs) or health savings accounts (HSAs) (Fronstin & Roebuck, 2013). It is reported that high-deductible health plans are a viable solution for employees with low and middle income. However, other studies reveal that chronically ill patients may reduce their visits to doctors (Wharam, Zhang, Landon, Soumerai, & Ross-Degnan, 2013).

In particular, the evidence shows that they are likely to limit visits, while laboratory examinations and acute visits remain unchanged (Reddy, Ross-Degnan, Zaslavsky, Soumerai, & Wharam, 2014). Similar results are found by Fronstin, Sepúlveda, and Roebuck (2013), who state that outpatient physician visits are reduced in a long-term period. Therefore, it seems that ABC should be more attentive to the health benefits offered to employees.

The implementation of wellness programs presents several advantages to both organizations and employees. For the employer, the provision of discretionary health benefits guarantees the stability of the team. The studies show that in companies that do not spare funding for such benefits, employees tend to value their work more than those who have less protection (Fronstin & Roebuck, 2013). If the employer demonstrates generosity and reliability during many years, then the personnel will be ready to show solidarity in times of crisis and even accept the reduction in wages for some period.

Conclusion

Considering the given case from the point of the company’s success, it is possible to suggest that wellness programs are likely to reduce health care costs since healthy lifestyles, proper nutrition, and disease prevention will be targeted. Moreover, employees will show less absenteeism as they will feel better, which seem to positively affect the productivity levels. It should also be stressed that health benefits will enhance both the physical and psychological condition of employees, who will feel the protection and support of their company. Thus, discretionary health benefits, including insurance and wellness programs, will be rather advantageous about the described case.

References

Fronstin, P., & Roebuck, M. C. (2013). Health care spending after adopting a full-replacement, high-deductible health plan with a health savings account: A five-year study. Issue Brief, 388, 1-16.

Fronstin, P., Sepúlveda, M. J., & Roebuck, M. C. (2013). Consumer-directed health plans reduce the long-term use of outpatient physician visits and prescription drugs. Health Affairs, 32(6), 1126-1134.

Reddy, S. R., Ross-Degnan, D., Zaslavsky, A. M., Soumerai, S. B., & Wharam, J. F. (2014). Impact of a high-deductible health plan on outpatient visits and associated diagnostic tests. Medical Care, 52(1), 86-92.

Wharam, J. F., Zhang, F., Landon, B. E., Soumerai, S. B., & Ross-Degnan, D. (2013). Low-socioeconomic-status enrollees in high-deductible plans reduced high-severity emergency care. Health Affairs, 32(8), 1398-1406.

Introduction

This memo requests your permission to conduct a study on the benefits of group legal plans at my workplace. Our country’s economic situation has become unpredictable. Many employees are unable to deal with their financial problems. Such employees continue to face numerous workplace challenges that might affect their productivity. Financial issues and unfriendly working conditions can result in numerous obstacles. Our organization seeks to reduce these obstacles because it can result in poor performance.

Challenge

Our organization employs over a hundred workers. Most of these employees encounter numerous problems that make them less productive. Our economic position is also becoming less predictable. Our employees are unable to work effectively whenever there is a problem. Such workplace conflicts can affect the performance of any business organization (Bowers, 2009). The biggest concern arises when every employee is unable to get the required legal support. Such challenges can also affect our organization’s missions and visions.

Potential Solution and Benefits

Group legal plans have the potential to increase morale and confidence among our employees. The approach will make our organization socially responsible and admirable (Bates, 2010). The decision to have group legal plans will ensure our employees get the best support from qualified lawyers. These “plans will ensure different workers get affordable legal support and care” (Bates, 2010, p. 2). The proposed research topic will make our organization successful. The study will equip the institution with new ideas and concepts that can address most of the above challenges.

The findings will make it easier for our employees to establish the best group legal plans (Bowers, 2009). Such legal plans will address numerous organizational problems. Our organization wants every worker to be satisfied with his or her working environment. This study will ensure every employee understands the issues affecting his or her performance. The study will also present new skills and concepts that can make me a competent researcher (Bates, 2010). That being the case, I am expecting a positive response to this request because it will have numerous benefits to the organization.

Research Request

The above research study will demonstrate how every organization can benefit from appropriate group legal plans (Bowers, 2009). The study will present useful ideas that can make our firm successful. I am planning to gather quality data from different sources and respondents. I will acquire data from different organizations and journals in order to understand the benefits of such legal plans. I will present several case studies to explore how different companies have benefited from such legal plans.

Preliminary Research

According to Bates (2010), group legal plans have the potential to transform organizations. I have identified several firms that have benefited from these legal plans. This situation explains why our organization will benefit the most from such plans.

Conclusion

Many employees continue to encounter numerous workplace and legal challenges. These obstacles make it impossible for employees to achieve their potentials. My commitment is to identify studies that can benefit our company and its staff.

Thank you for reading this memo. I am looking forward to receiving positive feedback on my proposed research proposal.

Reference List

Bates, B. (2010). How group legal plans add a competitive advantage to employee benefits. Web.

Bowers, M. (2009). Downturn Drives Demand For Group Legal. Benefits Selling, 7(5), 68.

Introduction

Human reserve management is rather different in the worldwide surroundings than in the domestic surroundings. Several factors donate to this. One factor is the dissimilarity in worldwide work markets. Each state has a different min of workers, work costs, and company. Companies can decide the mix of personal capital that is most excellent for them. Another issue is differences in employee mobility. Various obstacles create it difficult or not possible to shift workers shape one state to another. These comprise corporeal, economic, lawful, and educational barriers.

Still, one more factor is decision-making practices. Different trade subcultures decide to manage their capital, including the populace, in dissimilar ways. The additional country in which a company operates, the better the difficulty of conflicting managerial practice. Yet one more factor is the dissimilarity between nationwide and worldwide orientations. Companies seek worldwide approaches. However, receiving workers to set sideways their nationwide approaches is demanding. A final issue is controlled. Managing a varied populace in distant seats is harder than managing workers at the house.

Who Makes Up The Labor Market?

Most companies get hold of inexpert and semiskilled workers in restricted advertisements unless they provide is inadequate. Locals or host-state nationals are the populace of the state in which they labor. For skilled, technical, and decision-making workers, companies have more than a few options. They can sometimes hire these workers nearby. In other cases, the companies have to choose expatriates. Expatriates are populace who live and work exterior their inhabitant courtiers. Expatriates from the state where the corporation for whom their employment is headquartered are called parent-state national or home-region nationals. Expatriates from other states are called third-nation nationals.

Each corporation must equilibrium the advantages and disadvantages of hiring every type of employee. Locals are more often than not ethnically sensitive and simple to find, but they may not have the information and skills wanted by the foreign corporation./ Parent-country nationwide frequently have the wanted knowledge and skills and from time to time have the preferred corporation orientation, but they frequently lack suitable local verbal communication and educational skills. Companies more often than not find close relative-state nationals additional expensive to hire than other types of workers. Local laws might restrict service of these nationwide, too.

If we analyzed then we come to know that third-country nationals might be additional flexible to local circumstances than parent-country nationals. They might converse the restricted verbal communication and be clever to make wanted changes in culturally responsive ways. In several cases, they could be added acceptable to locals than close relative-state nationals. On the other give, they may lack the preferred company compass reading. Regulations may create it hard to hire them if not locals are without qualifications. Selecting the most excellent mix of workers from a diversity of nationalities is demanding. Carrying out that combine in the global surroundings is even additional demanding.

Four Human Resource Management Approaches

A company’s move toward human reserve to human reserve management in the worldwide surroundings is guided by its universal company move toward human reserve management. Most businesses in-person resource organization: ethnocentric, polycentric, regiocentric, or geocentric. The choice depends on more than a few factors- such as the governmental system and the company’s size, arrangement, approach, attitudes, and recruitment.

Ethnocentric Approach

The ethnocentric move toward uses populace of the parent state of a business to plug key positions at the house and overseas. This move can be helpful when a new skill is being introduced into another state. It is also helpful when prior knowledge is significant. Sometimes less- urbanized countries ask that companies transport expertise and knowledge using workers from the close relative state to train and expand workers in the host state. The objective is to prepare the host state employees to administer the commerce.

According to the expert analysis, the ethnocentric move toward has a disadvantage. For example, it deprives restricted workers of the chance to fill key decision-making positions. This may inferior the confidence and lessens the productivity of restricted work3ers. Also, the populace of the parent region might not be ethnically sensitive sufficient to administer local workers healthy. These managers might create decisions that hurt the aptitude of the corporation to function overseas.

Polycentric Approach

This research focused on the truth that the polycentric move toward uses populace of the host state of a business to run operations within that state and natives of the close family member state to administer at headquarters. In this state of affairs, host state managers hardly ever go forward to business headquarters since natives of the close relative state are favored by the corporation as managers at that level. This move is beneficial since locals run in the countries for which they are most excellent ready. It is also cheaper because locals, who need a small number of if, incentives, are willingly available and usually less luxurious to hire than others. The polycentric move toward is helpful in politically responsive situations since the manager is ethnically sensitive to locals, not foreigners. Further, the polycentric move toward allows for the permanence of organization.

The polycentric move toward has more than a few disadvantages. One difficulty is the cultural gap flanked by the supplementary managers and head office managers. If the opening is not viaducts, then the subsidiaries any purpose too separately. Another disadvantage is an incomplete opportunity for advancement. Natives of the host country can only go forward within their subsidiaries, and a close relative country populace can only go forward inside company headquarters. The consequence is that corporation choice makers at head office have small or no international knowledge. Nevertheless, their choices have main belongings on the subsidiaries.

Regiocentric Approach

If we analyzed then we come to know that the regiocentric move toward uses manager’s from a variety of countries inside the geographic districts of a business. Although the managers operate comparatively independently in the area, they are not usually enthused to the corporate headquarters. The regiocentric move is adaptable to fit the corporation and creation approaches. When regional know-how is needed, natives of the district are hired. IF manufactured goods information is crucial, then father- country nationwide who heaves prepared access to business sources of in order can be hired.

One shortcoming of the regiocentric move is that managers from the district may not appreciate the headquarters vision. Also, the corporate head office may not utilize sufficient managers using international knowledge. This could consequence in deprived choices.

Geocentric Approach

This research focused on the truth that the geocentric move toward uses the most excellent obtainable managers for commerce without looking upon for their state of source. The geocentric corporation should have a worldwide approach to business addition. The geocentric move toward allows the growth of worldwide managers and reduces nationwide biases.

On the other give, the geocentric move toward has to contract with the information that the majority of governments desire businesses to hire workers from the crowd countries. Getting endorsement for nonnatives to work in several countries is hard or not possible. Implementing the geocentric approach is classy. It requires considerable preparation and employee growth and more r5elocation costs. It also requires additional centralization of person reserve management and longer lead times previous to employees can be transferred sense of the complexities of universal process.

Determining Staffing Needs

A corporation must assess its recruitment needs to struggle productively in international advertising. Employment forecasting is estimating in go forward the types and information of workers needed. Supply psychoanalysis is formative if there are enough types and numbers of workers available. Through assortment or hiring and decrease or ended processes, companies equilibrium the command foe and provide of workers.

Once a company assesses its overall recruitment needs, managers start to fill personal jobs. A figure of factors must be careful. What will the new worker be allocating to do? What is the experience that the worker will require? What is the best mixture of technological abilities, character traits, ecological factors, and family state of affairs to ensure achievement?

When these kinds of queries are answered, exact job data are gathering. This includes in order about such things as assign tasks; performance principles; responsibilities; and information, skill, and knowledge requirements. From this in order a job description is ready. A job account is a document that includes job recognition, job declaration, job duties, and everyday jobs, and job stipulation and supplies.

Recruiting Potential Employees

A Company formally announces a job by circulating the job statement and job description from side to side suitable channels. If the job determination is full by an important person by now working for the corporation, then the internal channel will be second-hand. The job information will be sent to all person resource offices within the corporation. These places of work will position the information or notify corporation workers of the job ease of use in several other methods.

If the job will be overflowing by someone who at present does not labor for the corporation, then dissimilar channels will be old. If a decision has been complete to hire a parent- country nationwide, then channels inside the parent’s state will be chosen. If a third-state national will be hired, then channels in another state that could provide appropriate employees will be old.

The exact types of outlets chosen could be prejudiced by the type of worker needed. If an unskilled or semiskilled worker is wanted, then local community outlets such as Job Service orbits abroad equivalent might be old. If a skilled, technological, or managerial employee is needed, then community and confidential outlets might be old. For unusual or high-position managerial places, the company strength employs a particular recruitment firm recognized as a headhunter. Such a firm, from time to time for a substantial fee, locates one or additional qualified applicants for the place.

Selecting Qualifies Employees

Companies that function in the global surroundings use a diversity of methods to choose the best candidate. The best candidate is the person with the uppermost possible to get together the job prospect. Most companies use a mixture of several selection methods, counting cautious assessment of the applicant’s precedent activities, relevant tests, and interviews. In the procedure of screening applicants, companies are usually worried about three broad issues. These are capability, flexibility, and individual individuality.

If we analyzed then we come to know that the factor of capability relates to the aptitude to execute. Competence has a figure for dimensions. One significant dimension is technological knowledge. Is the candidate competent in the preferred specialty areas? Another measurement is experience. Has the candidate performed similar or connected tasks well in history? For managerial positions, leadership and decision-making ability are significant. Can the candidate labor with others to achieve goals? For positions in other countries, educational consciousness and language skills are dangerous. Does the candidate understand the area or advertise for which he or she would be accountable? Is the candidate able to talk fluently in the local verbal communication?

This research focused on the truth that the factor of flexibility relates to the aptitude to adjust to dissimilar conditions. Possessing a grave interest in global business is essential. Does the candidate want to labor abroad? The ability to tell to a wide diversity of the populace is significant, too. Does the applicant work efficiently with varied groups of the populace? The aptitude to identify with others is wanted. Can the applicant tell the approach, opinion, and attitude of those from other cultures? The approval of other decision-making styles is also highly attractive. Can the candidate accept alternate decision-making styles that are favorite by restricted?

If we analyzed then we come to know that the approval of various ecological constraints is wanted, too. Does the candidate understand the dynamics of the multifaceted surroundings in which global business is conducted? The aptitude of the applicant’s relations to regulate to another site is particularly significant for international coursework. Can the family members manage the challenges of livelihood overseas?

The issue of personal individuality has many dimensions. The adulthood of the worker is one dimension. Is the applicant grown-up enough, given the task and the civilization in which the project will be undertaken? Another measurement is teaching. Does the candidate have an appropriate instructive level given the task and the location? In particular situations, the sexual category is a concern. Will the applicant’s sex contribute toward or get in the way with the aptitude to be winning in the operational environment? In Saudi Arabia, for instance, women are not commerce connections. The social suitability of the applicant is supposed to also be considered. What is the probability that the candidate will fit into the novel work surroundings? Diplomacy is one more trait to comprise. Is the applicant diplomatic in a message, particularly when unpleasant in order is involved? General physical condition is another thought. Is the applicant strong enough to endure the rigors of the work assignment? Mental constancy and adulthood should not be unnoticed. Does the applicant purpose on a still keel and in an accountable manner? The steadinesses of the relations within the family are significant, too. Will the relations be able to withstand the extra challenges of a new job- perhaps overseas?

As various applicants are screened, one fact more often than not stands out: no solitary candidate possesses the perfect mixture of competence, adaptability, and individual individuality. When this happens, the corporation will have to equilibrium the strengths of the variety of applicants against their weaknesses. Overall, which candidate best matches the wants of the location? Which applicant has the most likelihood of being winning o the job? THE answers to such queries result in the assortment of the best- capable individual to plug the job.

Training And Development Are Critical

Employees create or smash an international business, now as they do a home one. Their daily events put the life of the corporation on the line. Consequently, companies require to be sure all of their workers are well ready for their work. This includes together lower- height and higher-level workers. Training and rising employees to work at their utmost possible are in the best attention of a corporation in the extended run. Preparation and growth are speculations in the future of the corporation. The better taught and developed the workers are, the better the probability that the corporation will be winning.

Preparation and developing workers are major expenses for a corporation. Managers have to make a choice what types of workers in which locations should take delivery of exact types of training and growth. These decisions are not simple. Because of limited capital, companies have to equilibrium needs and possible benefits.

Historically speaking, many U.S.-based international companies have skimped on preparation and growth. This has contributed to their difficulties out of the country. Many of their workers have not been well ready to compete in the worldwide market. Companies headquartered in another country often invest at length in training and growth. In information, several countries have laws that necessitate companies to teach and develop their workers. Such workers are often well ready for work in the extremely competitive worldwide marketplace. U.S.- based global companies are now realizing the value of as long as more extensive preparation and growth.

Types of Training and Development

Managers working inside international companies require a variety of preparation and development. Managers need preparation for job-related issues. For instance, they need to be conscious of the current financial, legal, and following environments. They require being present o pertinent governmental policies and reputation. Managers also require being conscious of managerial practice within their regions of blame. Current in order about the corporation, its subsidiaries, plus their processes is needed, too.

In addition, close relative countries nationwide and their families need preparation and development connecting to relations. At a minimum, they require to develop continued existence-skill information in the local verbal communication upon influx or shortly after that.

Managers and their relations also need cross-educational training. They require to understand the variety of sizes of the local culture that was talk about in Chapter 3. Also, managers need to connect to life in the host state. For example, they require to be acquainted with money. Do they need to know to come again? Foods are obtainable and their estimated costs. They need to understand accommodation options plus prices.

Special therapy may be wanted if the manager has an operational spouse. more and more, both husbands and wives labor and career moves that are helpful to one may not be helpful to the other. If merely one of the two reimbursements, is eth job alter worthwhile? Determining if the other half can work keen on eh host state is important in many service choices. Some governments forbid the spouses of overseas workers from being working. What sensible service options, if any, exist for the other half in the host state If the spouse cannot labor, can he or she regulate that information?

Providing preparation and growth is costly. Nevertheless, corporations cannot fail to provide it, particularly for parent-state nationals. If parent-state nationals are ineffective abroad or if their families cannot regulate to like abroad, the business loses. In effect, a corporation that provides preparation and growth is like a person who buys cover: it helps to protect next to the risks. Research suggests that pertinent training and growth does increase the probability of achievement abroad.

Training and Development Help to Prevent Failure

In malice of the efforts of a lot of companies to give parent- County nationwide with relevant preparation and growth, a number of them are ineffective abroad. These workers may return home near the beginning, annoyed and aggravated. They may mess from side to surface the task abroad using little or no achievement. They a lot of even leave the company during or at the end of the overseas assignment. The associated financial and mental expenses of breakdown are far above the ground. Failure hurts both the corporation and the worker.

To decrease the odds of failure abroad, companies be supposed to select only winning and content workers for abroad assignments. Companies are supposed to also supply widespread relevant preparation and development previous to going away, throughout the project abroad, and after recurring home. Companies are supposed to make the worldwide task part of he long- term worker development procedure. This effort is supposed to advantage both the corporation and the worker in intended and focused ways.

The worldwide task should be accompanied using sufficient messages between the company and its worker. The corporation should know concerning the employees out of the country experience. The worker should know about alter at company head office, too. When the employee income home, the corporation should give a job that uses the worker’s global knowledge. The information and skills acquired overseas should not be unnoticed. Company managers, particularly those with no international knowledge, should be taught to worth global understanding. The corporation should expect recurring employees to knowledge reverse civilization shock. However, a supportive preparation and growth program should reduce the readjustment occasion.

Motivating Employees

Managers approximately the earth try to motivate their workers to carry out to their fullest possible. While this perfect is commendable, the exact things that donate to peak presentation vary. What motivates a U.S. employee to perform healthily may have small or no effect somewhere else. Employee incentive is not universal. in its place, it is ethnically based; that is, it varies from civilization to civilization.

Experiences international suggest that U.S. models of incentive work most excellent with U.S. workers I their inhabitant state. When U.S.- based worldwide companies try to be relevant their family models fail to give details of motivation somewhere else because what motivates people differs from civilization to civilization.

Conclusion

There is a straight link between option and blame: the greater the individual option, the more the being will be accountable for his/her safety. A high benefit with a low option tends to generate a sense of prerogative. Low benefits and high options do just the conflict. The choice is frequently greater than before when the populace is plummeting benefits and annoying to add to employee blame. There can be a connection flanked by choice and approval of benefits; contribution workers’ choices (and communicating well) virtually armed forces workers to focus on what is obtainable to them. workers with the choice often appreciate their benefits-improved than those who do not have the option, and as a result, they are probable to appreciate their benefits additional or to be more worried if the benefits are near to the ground.

The alternative has to turn out to be an important means of transportation for serving companies respond to the altering place of work. In plans connecting choice, the corporation pays for fraction of the benefits, and the workers can buy extra coverage, or choose flanked by dissimilar coverages. If business support of variety is important, choice in the height and kind of benefits become a major means of transportation to achieving that purpose.

Reference

Bundy, R.A. (July 11, 1997). Changing the role of human resources has vast implications Wichita Business Journal. Web.

Cylogy Inc. (2006). Web.

Dorsey, Thomas A., (2005) Diversity: A World of Difference. Valuation Insights and Perspectives. Chicago: Second Quarter, Vol. 10, Iss 2; p 24-26.

Lifland, Shari (Nov 2006) Ethics at work: What would you do? Career and Technical Education. Administrative Assistant’s Update, p 3.

Mercer Human Resource Consulting, (2006). Web.

Noe, Hollenbeck, Gerhart & Wright (2004). Fundamentals of Human Resource Management McGraw-Hill/Irwin, 2004. New York, NY.

Fredrickson, P. J. and D. L. Sodded, D. L. (1998). “Employee Attitudes Toward Benefit Packaging,” Review of Public Personnel Administration, volume 18, 23-41.

Bergman, T. J., M. A. Bergman and L. L. Grain, J. L. (1994). “How Important Are Employee Benefits to Public Sector Employees,” Public Personnel Management, volume 23, 397-406; Dust, S. (1998). “The Effect of Family-Friendly Programs on Public Organizations,” Review of Public Personnel Administration, volume 19, 19-33.

Bergman, Bergman and Grain., 1994; McDonnell, K., P. Fronstin, K. Olsen, P. Ostuw, J. VanDerhie and P. Yakogboski, P. (1997). EBRI Data Book on Employee Benefits. Washington, DC: EBRI; Fredrickson and Sodded, 1998.

Bond, J. T., E. Gainsay, E and J. E. Swanberg (1998). The 1997 National Study of the Changing Workforce. New York: Families and Work Institute.

Williams, M. L. (1995). “Antecedents of Employee Benefit Level Satisfaction: A Test of a Model, Journal of Management, volume 21, 1097-1128; Durst, 1998.

Moulder, E. R., and G. Hall (1995). Employee Benefits in Local Government. Special data issue n. 8. Washington, D.C.: International City Management Association.

Strieb, G. (1996). “Speciality Health Care Services in Municipal Government,” Review of Public Personnel Administration, volume 16, 57-62.

Roberts, G. E. (2000). “An Inventory of Family-Friendly Benefit Practices in Small New Jersey Local Governments, Accepted for Publication in Review of Public Personnel Administration.

Introduction

The present paper examines in details three areas of employee benefits; these are: (i) defined benefit plans; (ii) defined contribution plans; (iii) self-funded insurance and other welfare program. The present paper, hence, looks at each of the above areas in considerable details and critically examines their weak and strong area while commenting on their present state. The paper also relates critical commentary by reviewing experts’ opinion and empirical evidence in the areas concerned. All three areas are separately discussed; however, where there is necessary, an inter-topical reference is made across sections for better understanding and building up of the argument.

Defined Benefit Pension Plans

Defined benefit pension plans pay retired employees a benefit which is based on a formula that takes into consideration two major areas of employees: the in-service years of the employees and their earnings; the amount may also be stated in flat dollars. It is necessary that the sponsors of defined benefit plans establish a fund that contains sufficient assets so that the prospective obligation in terms of pension can be discharged. However, the employer is required to bring in additional funds to bolster payments if the assets are, at any point in time, insufficient to manage liabilities. This plan is in contrast to defined contribution pension plan in that defined contribution plans actually base on collected contributions. These contributions are made on behalf of members and invested to a fund. There is a term “textbook” description regarding defined benefit pension plan. The term holds that “members of defined benefit pension plans bear no investment risk”. However, this is where controversy in terms of legal matters as well as at general level rises. Different scholars and experts view this situation differently. For instance, Hyatt and Pesando (1996) state that there are at least a few of the risks in the performance of investment fund that members of defined benefit plan bear which is through concessions in other part of the compensation offer. This is also where the distinction between defined benefit plans and defined contribution plans is blurred and hence gives way to straight argument. Hyatt and Pesando tested their hypothesis that members do bear risks of investment by brining into practice a number of empirical evidence and by conduction a number of case studies on some plans. The researchers reviewed U.S. and Canadian litigation side by side. A survey was also conducted that included pension professionals. Tradeoff between pensions and wages in 98 unionized organizations in Ontario was also undertaken to conduct an economic analysis. The authors reached to an empirical evidence that there is overstatement in between what is said to take place and what really does happen in defined benefit plans, that is, they found evidence that in U.S. and Canadian litigation and decision in arbitration areas it is accepted that members do bear the risks of fund investment although it is not accepted in all areas. Henceforth, it is important to note that defined benefit plans are more convenient in unionized and other organizational settings.

A very recent financial report by Mercer relates that the daily financial upheaval being experienced by Wall Street for the past many months is still continued and the result of this mayhem is directly on the country’s defined benefit plans which seem to get battered due to worsening economic conditions: “Since the end of 2007, the funded status of pension plans sponsored by large U.S. companies has fallen by almost $100 billion, according to analysis conducted by Mercer”. The surplus as such is being replaced by a deficit of 35 billion dollars which shows that pension plans are at a very shaky stage and the unknown and untold of danger for pensioners in the future is clearly visible because of reduction in funds and risks on liabilities. However, in the same report, experts opine that if markets settle in the near future, the situation is going to be under control; today, companies have to bear extensive pressure on their balance sheets putting the entire nation to fears and speculation about their future. At present, there is uncertainty with regard to plans put into execution. Therefore, companies are cautioned to sit tight with their short-term as well as long-term plans: anything can happen, thus it is important for the companies to visit and revisit their plans and policies and be ready for any downward jump which might bring disastrous consequences for their pension plans set forth in the past (Employee Benefit, 2008).

Defined Contribution (401k) Plans

A 401k plan is actually a defined contribution plan for savings for retirement. The specific definition of this plan is that: “The amount contributed to each participants’ account is set (“defined”) – either by the plan participant or by the employer, and as either a flat rate or a percentage of pay”. There are other defined contribution plans also that come into the same category of savings plans for retirement of employees. These plans include SEPs, Profit Sharing Plans, Simple IRAs, and Purchase Plans; however, looking at the present scenario in the American market, expert opine that 401K plan is the most popular plan today. There are particular characteristics of 401K plan that make it a most popular savings program for the American nation today. These characteristics can be stated as follows:

• Every employee who participates in this plan has to decide upon a specific amount of payment that has to be withheld from their pay each month as a 401k contribution.
• “The employer withholds the amounts BEFORE calculating income taxes on the employee’s pay”
• There is a third party administrator to whom the money of the employee as such is forwarded by the employer. The third party administrator then invests the money according to the particular instructions that the employees provide.
• There are some employers who opt to add 401k contributions by matching profit-sharing, “and/or qualified nonelective contributions”.

This is important to note that a 401k plan must be an employer-sponsored program. There are a number of technical (or legally technical) issues with regard to the conditions by which a sponsor-employer moves on with this plan. What comes out to be the central point is that this plan is greatly convenient for the participants opting for it because “Participants simply establish the contribution level they want, then the employer has the amount pulled from the participant’s pre-tax pay each period and forwarded to the 401k investments the participant has selected” (web-401k.com).

There is also an auto enrollment procedure observed under 401k plan. Under this enrollment, an employer is automatically enrolled in 401k plans as soon as the employee fulfills the requirement set forth as eligibility criteria. It is also possible for employees to elect to decline the enrollment at any given time. However, it is required that the employer must in advance set the contribution to be made under enrollment. This enrollment level, as such, is usually anything from 3 percent to 5 percent of the total compensation. It is also an obligatory condition that an employer must inform, at least once a year, all their employees about the total auto enrollment procedures, and other issues that are related to the employees ceasing to participate or block their participation into the auto enrollment plan. If participation status for an employee changes over given course of time, it is obligatory for the employer to inform that employee without any delays so that the employee is free to act at their own will. Any contributions that are made by the employer to the accounts of participants that hold traditional benefit program must also be made with the same level to the accounts of those employees that hold the auto enrollment status. This is also important that the employer must inform the employees of their right to change their basic investment scheme that can go through different selection or contribution rate. Automatic enrollment has another coinage: passive enrollment and negative enrollment. Negative election is the coinage for default investment and contribution designation. However, expert advise the employees to consult to a legal advisor “before adopting automatic enrollment for [their] 401k plan (web-401k.com).

A 401k plan, sponsored only by an employer, is a retirement program which is divided into two categories: i) defined benefit and the other is defined contribution. The first package of the plan (defined benefit plan) “the employer promises to pay a defined amount to retirees who meet certain eligibility criteria”. Whereas the other package of the plan (defined contribution plan) the “plan defines the contributions that an employer can make and not the benefit that the employee will receive at retirement”. 410k is a defined contribution plan. Hence the name suggests that the employee actually cannot foresee the actual monthly retirement income. So what practically applies in this plan is that when and if an employee quits working at a company, what they are usually entitled to receive under this plan is a lump sum of annuity which is calculated according to the contribution and the current average salary of that employee (residual-rewards.com).

Self Funded/Insured Health and Welfare Plans

Looking at the present financial condition of the country and sky-rocketing health care costs, it is the expert opinion that today more and more employees are moving toward self-funded health care plans that include health insurance and other welfare benefits to those employees. However, looking into the prevalent trends in the market reveals a different picture in which companies are moving from self-insurance and other self-funded benefits to insured programs. This shift is estimated to be due to the drive “by employers’ desire to transfer the volatility and uncertainty of health care cost increases to insurers, rather than retain it”. Thus, the other side of the argument is that self-insurance programs are losing ground, a fact contented by some experts also. None the less, the major point on which experts do come to offer a mutual agreement is that at this point in the nation’s economic condition there is no mass movement on either side that can be said to noteworthy. The movement away from self-insurance is seen in a different context in which companies that move away from self-insurance do that due to averring risk in a marketplace which is more likely to occur in significant expansion in total costs. However, for midsized companies opting for self-insurance and other self-funded programs is a practical solution “because their covered population generally would be big enough so that individual risks could be spread out”. All these statistics and reports that focus on market movement also offer a collective consent that “there’s a tremendous amount of uncertainty in the market, there then could potentially be a rush to insurance such as we haven’t seen since the late ‘70s”. Thus, it seems that self-funded insurance and other welfare programs are dependent on market conditions and that if markets get stable, there no doubt that the amount of such programs will rise to heights (Greenwald, 2001).

Self-insurer also view governmental policies and plans very critically and openly negate or oppose a number of them because of some solid reasons on their side. For instance, there is a lot of evidence in literature with regard to a number of acts; the debates are going on for a long time. The major point of conflict to the self-insurers is that the government, on the one hand, wants to show high interest in providing coverage to all those who are uninsured; yet, on the other hand, they state that government is making it “more difficult for employers to provide coverage”. For instance a patient’s bill of rights is something that eventually gives rise to health care cost because it imposes extra regulations and extra liabilities on the companies and organizations that provide health care. These costs simply fall upon the shoulders of the employees (directly or indirectly) and cause their pay to lower or cause employees’ benefits to reduce. Thus in legislative discourse what is important is to deal with the issues of liabilities so that added expense and other restrictions can be addressed to reduce the risk on the part of the self-funded employees so that they can feel secure. One way to around the same point is to ensure that the employers receive a clearly defined line of action so that they can benefit a number of employees (Hofmann, 1999).

Conclusion

Although there are certain limitations in all the savings and welfare programs noted and critically examined above. There is no doubt that 401k plans are more popular in the U.S. because of the fact that they provide greater liberty to the employee. These plan offer freedom of selection and employees are free to opt out from an employment without losing their due share in the investment made at a specific job. Although 401k plans do not offer employees to go for a decided pension income, they do offer solid safety in terms of investment for the future.

Works Cited

1. Employee Benefit (2008). “The hits just keep on coming: Already weakened pension plans hit harder by stock market collapse.(Defined Benefit Retirement).” Employee Benefit News. HighBeam Research.
2. Greenwald, J. (2001). “Health cost volatility may spur shift in self-funding.(self-insured benefit plans).” Business Insurance. Crain Communications, Inc. HighBeam Research.
3. Hofmann, A. M. (1999). “SELF-INSURERS TAKING AIM AT MANAGED CARE LEGISLATION: PATIENTS’ RIGHTS PROPOSALS DISCOURAGE SPONSORSHIP OF BENEFIT PLANS, EMPLOYERS SAY.” Business Insurance. Crain Communications, Inc. HighBeam Research.
4. Hyatt, D. E., & Pesando, J. (1996). “The distribution of investment risk in defined benefit pension plans: a reconsideration.” Industrial Relations (Canadian). HighBeam Research.
5. Residual-rewards.com – (2008). 401k retirement plan 2008.
6. Web-401k.com – (2008). 401k basics: the concepts that shape 401k plans.

Paying attention to the changed economic and social environment in the United States, it becomes evident that there is a need to reconsider the existing health benefits companies provide to their employees. In particular, the given case requires focusing on homosexual and heterosexual couples in all locations and evaluating diversity training throughout the organization. To prepare the roll-out of the identified initiative, it is important to make it clear that domestic partners will be included in an employee health care plan provided by the organization. The paramount challenge is associated with the fact that employees may differently react to such innovations (Cole and Salimath156). Some of them would support it, while others are more likely to be confused with the provision of health benefits to non-family members. Another issue is associated with the eligibility criteria. The organization’s management should determine whether cohabitation, an unmarried status, or financial independence would matter while deciding on health benefits to domestic partners. The above point is essential as only some states have legalized same-sex marriages such as California, Arizona, or New York, while others do not recognize them.

The mentioned challenges would impact diversity training. Change is required in terms of attitude towards domestic partners and potential discrimination. In particular, training should promote non-discriminative and inclusive views since the very corporative culture needs to be adjusted to new realities. The more diverse the cultural field of business, the more pronounced the cultural differences, and the higher the communication barriers, the more critical the requirements for the cross-cultural competence of staff and especially managers. An employee at any level of a large company does not merely interact with representatives of other cultures but also encounters various subcultures differentiated by age, gender, profession, religion, etc.

If the given organization needs to be effective in implementing its initiative, then all employees should be trained properly according to the plan. To adapt employees to each other, there is a range of training strategies in terms of tolerance and diversity management such as mentoring programs or non-discriminatory performance appraisal (Janssens and Zanoni 325). Written instructions and special training that introduce employees into the course of the case allow staff to interact effectively regardless of the cultural background. It should also be noted that diversity training should include not only safety modules but also a code of business principles and morale. The latter should outline the principles of behavior in different situations, so that employees have guidance regarding uncertain events. Moreover, it is appropriate to engage employees to report about difficult situations and discuss them in a group.

An important element in diversity training is that it should be adapted to the individual style of employee training, if this is technically possible and economically feasible. Besides, a manager can use a variety of specific targets, thus contributing to a diverse organizational culture. Another option is knowledge management that emphasizes the necessity to pay attention to the quality of communication links used in the process of knowledge transfer between employees. The construction of communication networks should be conducted, taking into account the cultural and moral heterogeneity of the staff. The element of an organizational culture shows that in an environment where the integrity of the staff is viewed as a goal and where the uniqueness of every employee is valued, an organization has more chances to become more effective. Taken together, the above elements would help to eliminate and prevent employees’ concerns.

Works Cited

Cole, Brooklyn M., and Manjula S. Salimath. “Diversity Identity Management: An Organizational Perspective.” Journal of Business Ethics, vol.116, no. 1, 2013, pp. 151-161.

Janssens, Maddy, and Patrizia Zanoni. “Alternative Diversity Management: Organizational Practices Fostering Ethnic Equality at Work.” Scandinavian Journal of Management, vol. 30, no. 3, 2014, pp. 317-331.

Based on my key needs and expectations, retirement planning, medical benefits, and vacation time represent the three benefit types capable of retaining me as an employee. The first type, retirement-related benefits, has been chosen as it reveals the degree to which my hard work serves as an investment in my family’s future financial security. Despite my current age and fitness for work, I am always conscious of the inevitable negative changes to my work capacity that will intensify with aging. Pension benefits minimize risks in this regard, which would reduce my turnover intentions and motivate me as an employee to think carefully before leaving an organization that offers such uncertainty-reducing options.

Next, the presence of medical benefits is a crucial employer selection decision-making factor for me. Such benefits facilitate access to services required to stay productive and capable of performing everyday tasks independently, which is why I have chosen this category. This perspective seems to be extremely widespread as more employers are motivated to offer health benefits as part of the war for talents. Specifically, more than 50% of U.S. employees younger than 65 have health coverage through their organizations (Carrns, 2021). Similar to retirement planning, health benefits would retain me in the workplace by eliminating a sense of uncertainty and keeping my job satisfaction levels high enough.

Finally, vacation time is another crucial category for me as I see relatively lengthy breaks from work as something central to my holistic health. I have selected this benefit type since vacation leaves enable me to maintain a healthier work-life balance and maintain positive family relationships, which adds to my psychological well-being. Moreover, in the healthcare field, work during personal time and the underutilization of vacation days are positively correlated with burnout, thus increasing the risks of non-psychological disorders (Terry & Woo, 2021). The opportunity to use vacation time would discourage me from leaving an organization due to enabling me to take care of my health and recover from stress.

References

Carrns, A. (2021). In a ‘war for talent,’ employers hold the line on health benefit costs.The New York Times.

Terry, D. L., & Woo, M. J. (2021). Burnout, job satisfaction, and work-family conflict among rural medical providers. Psychology, Health & Medicine, 26(2), 196-203.