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==== ==== Learn How To Manage Employees Effectively http://HowToManageEmployees.net ==== ====

When an organization designs its overall compensation program the critical areas of concern is what benefits to grant. Selection of perfect plan might be a complex and difficult task. Today's workers expect more than just an hourly wage or basics. They want additional considerations which will play a significant role in their own and their family's lives. These considerations in a recruitment setting are recognized as employee benefits. It is a form of indirect compensation given to an employee or group of candidates as a part of organizational membership and creates a healthy administrative and monetary impact on business growth. These considerations include retirement plans, vacation pay, medical/life insurance, holidays, sick/casual leave, educational assistance, gratuity, club memberships, etc. The strategic reasons of offering allowances are: - Attracting and holding capable staffs - Improving the company's image - Enhancing job satisfaction - Encouraging workers morale Comprising facilities package is an integral part of the total compensation package offered to staffs and these should look as a part of overall compensation strategy of the organization. For instance, an organization can prefer to compete for workforce by giving: - Base compensation - Variable pay - Allowances A new company can choose to have lower basic pay and use higher variable incentives to attract new employees but keep the costs of pluses as low as possible for a while. Managing staff's facilities should consider the following issues: - What expense levels are acceptable for each facility offered? - Which employees should be given or offered which allowances? - What is being received by the organization in return? - How does having a comprehensive benefits package aid in minimizing turnover or maximizing recruiting and retention of workers? - How flexible should be the package of advantages is? Wrapping up managing offer or not to offer employee benefits may be complicated.


A. B. Ch.

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==== ==== Learn How To Manage Employees Effectively http://HowToManageEmployees.net ==== ====


Managing Employee Benefits - A Complex Job