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Employee Benefits - Essay Example

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Additionally, upon retirement, employees also enjoy some retirement benefits as granted by the employment act. The employee benefit plans are established to provide health benefits,…
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Employee Benefits
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Employee Benefits Employee Benefits Employees are en d to some benefits that should be offered all along their working periods. Additionally, upon retirement, employees also enjoy some retirement benefits as granted by the employment act. The employee benefit plans are established to provide health benefits, vacation benefits, disability benefits, training benefits, retirement benefits as well as death benefits among other similar benefits. These plans are voluntarily made and maintained by the employer and employee organizations. Every employee has the right of access to the employee act which analyses all benefits that should be offered to an employee during or after his/her working period. An employee has the right to claim or file a court order upon denial of the enjoyment of such benefits (United States and United States, 2004).
Many employees fail to understand whether their employee benefits package gives them the payback, they deserve in an increased employee appreciation and satisfaction. They may only understand and appreciate only a part of the employer’s cost of the benefits they receive. Employees should understand and claim for such benefits including:
Health care benefits; All employees are entitled to health and care benefits. Organizations are called upon to initiate some wellness related programs that cover the health care of the employees. Employers should provide a safe working environment.
Leave benefits; Employees should enjoy a full paid leave benefit. No deductions on salaries are to be made during their leave period.
Compensation benefits; Employees are entitled to referral bonuses upon any successful activity. In case of tragedies or injuries during the employment, employees should claim a full compensation.
Flexible working benefits; employees have the right to work on a flexible environment. They should not be fixed to long working hours that would deny them a chance to meet other family members.
Life insurance; employees should obtain an insurance benefit organized by their organization. The organization should pay to the insurance companies on registration of all employees.
Retirement benefits; upon retirement, the employee should receive payments adjusted with regard to their agreements with the employer and as provided in the employment benefits act.
Employees who have a full access to their benefits significantly play a great role towards the development of the organization. These may act motivating factors for employees who in turn work to achieve great success of the organization. Some successful organizations like the World Bank are found to have been in first place in administering services that offered the employee benefits. World Bank offer much employee benefits facilitated through such programs like the Medical Insurance Program, which is a comprehensive insurance policy run by the World Bank Group for the locally or internationally recruited employees (United States and United States, 2004).These among other benefits are vital in the sustenance of the employee and the company. The modern approach to employee benefit and compensation plans rewards and helps in the recognition of the best employees in an organization. Effective employee benefits plans raise and improve productivity and increase employee retention. Generally, the employee benefits plan has a positive impact on the organization’s bottom line. They should be offered as a right and benefit to both the employer and the employee.
References
United States., & United States. (2004). Pension and employee benefits: Code, ERISA, regulations as of January, 2004. Chicago, Ill: Commerce Clearing House Read More
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