Employee and Employer Benefits - Find the Best
Are you trying to find the best employee and employer benefits? If you already have employee benefits, chances are that you fall into the category that is not receiving the payback that it deserves from the benefits. This is simple enough to tell from recent company employee satisfactions surveys. If you haven't had one for your employees, you should conduct one soon to gauge the level of satisfaction within the company. This is a great source of information when deciding on the best employee and employer benefits.
According to research, employers spend as much as 43% of the total amount used for pay on different employee benefits. However, many employees do not appreciate these efforts on the part of their employer. In other words, the money spent to provide motivation for employees goes unappreciated by the very employees that you are trying to please. A change in strategy is therefore required by employers in order to increase the employee satisfaction levels.
Why employees don't appreciate employee benefits
Many employers are quick to jump to the conclusion that their employees are simply ungrateful. However, nothing could be further from the truth. There are several factors that cause employees to be unable to appreciate the benefits provided to them by their employers. The most common factors are:
A failure on the part of the employers to communicate the value of employee benefits to the employees. This means that employees are unable to fully understand the value of the benefits that they are being provided by their employers.
Employees in most cases do not have any choice when it comes to the benefits package they are given. They are not given the opportunity to provide input on the package. This therefore results in the company providing a benefits package that the employees cannot appreciate as it is not fully relevant to them.
In some cases the employees may not fully understand the market value of their benefits. The employees are therefore not able to fully comprehend the actual value of their benefits and cannot therefore fully appreciate them.
Change in Strategy
If you want to find the best employee and employer benefits you will have to change your strategy. The following are key steps in providing an appropriate employee benefits package for your employees.
Maximize your employee benefits expenditure by providing the employees with as much information on employee benefits as possible. Allow our employees to be part of the decision making by carrying out surveys before deciding what benefit packages to provide for the employees. Employees will appreciate benefits packages that they had a role in determining more than those that are imposed on them.
Study data from other companies and other available employee benefits. Learn what types of benefits are available and which have been more successful. Take the time to compare the costs of these benefits and how successful they have been in the companies in which they have been provided.
Select the type of benefits you would like to provide for your employees and allow you employees to provide feedback on the choices. There are different types of benefits available including: Medical and health benefits, bonus benefits for employees, paid time off, retirement benefits, insurance benefits and children and family benefits.
When evaluating employee and employer benefits to find the best ones, you must ensure that your employees are part of the decision making process. There are various benefits that you can provide employees. Some benefits are simple such as food or transport to and from work. Others are more expensive such as health care and medical benefits.</P>
Category: Consultant - Employee Benefit Plans
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