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Employee Benefits & Healthcare - Essay Example

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This essay Employee Benefits & Healthcare stresses that the employee benefits package is a combination of group and individual benefits that provide security for an employee on the job and during a time of crisis, such as unemployment, death, illness, or injury. …
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Employee Benefits & Healthcare
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Download file to see previous pages This discussion highlights salaries are competitive, and many employees rely on competitive salaries. However, the employee benefits package creates value for the employer’s job offers. Therefore, the benefits package is beneficial for the potential employee’s decision to accept the employer’s job offer. The employee benefits package is typically defined as those benefits that provide wage-less compensation packages in exchange for monetary payments. The employee benefits package is designed to increase the employee’s economic security in times of unemployment or illness. Most employee benefits coincide with the employee’s assigned hourly wages or salaries and the number of years worked for the employer. The benefits are provided when an employee pays a particular group or individual rate to participate in the provided employee benefit, depending on the type of benefit plans.
From the paper it is clear that the type of benefits that the employer provides depend on the employer’s available employee benefits package. Each employee’s package is unique and, therefore, determined by the employee’s particular needs. The employee has an opportunity to purchase additional benefit plans based on the individual’s needs. A few benefits provided through vendors include healthcare, dental plans, life insurance, disability income protection, retirement benefits, daycare assistance, tuition reimbursements, sick leave, paid or unpaid vacation packages, social security plans, profit sharing, education funding, and numerous specialized benefits to meet the employee’s needs. ...Download file to see next pagesRead More
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