Employee Benefits - Essay Example

Comments (0) Cite this document
The Spa symbolizes an industry which is characterized by a high skill requirement, along with a strong focus towards customer satisfaction. Since the amount of tangibles that goes along with the final product delivery is minimal, Span managers have to focus on differentiating their services through excellent customer focus.
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.5% of users find it useful
Employee Benefits
Read TextPreview

Extract of sample "Employee Benefits"

The Spa symbolizes an industry which is characterized by a high skill requirement, along with a strong focus towards satisfaction. Since theamount of tangibles that goes along with the final product delivery is minimal, Span managers have to focus on differentiating their services through excellent customer focus.
Let us discuss the role of benefits through certain provisions which can be included in a plan aimed towards positions in a Spa.
Health Insurance Plan Scenario
The managers should be covered under health insurance, provided by the company, as long as he is serving the spa. Some reasons may be cited as fringe benefit implications, positive impact on the productivity of workers (as they are confident about their health outcomes), and tax relief for employees as well as the management.
As per the motivation theories, a health insurance plan will be fulfilling the safety and security needs, and hence can be effectively used as a motivational tool.
Paid Vacation Trips
This measure may be used effectively as an incentive tool - where managers will be provided with a ten days paid vacation trip (in the form of a package), on condition that he/she has completed two years of service and has been able to successfully achieve target set (both qualitative and quantitative). In ensure full productivity in the highly labor intensive spa industry, it is necessary to provide offs to the employees, which will help them rejuvenate. An implication here may be that the employees may opt for the holidays in unison, and that this may become an issue, especially during festivals. Proper counseling and the mention of an appropriate clause in the contract will ensure that this plan is implemented soundly. The scheme of holidays may be devised as follows:
Years of Service
Average days per year
2 -5 years of service
6 -9 years of service
9-12 years of service
More than 12 years of service
Retirement Plan& Other Associated benefits
This is another employee oriented measure that the management may hope to engage in. Popular schemes include the 401K savings plan and the various voluntary retirement plans.
In a bid to be engaged to the Spa, the management may extended benefits like free training to one family member, on condition that the trainee will be absorbed into the organization on the successful completion of the training program.
Work/Life Benefits
The managers and his/her family members should be provided professional support for working through personal challenges, which can imbalance their working life, such as family problems, financial issues, legal issues and emotional problems.
The Managers and their family members should get a meaningful discount on any service that they avail in the spa, thus paving way for effective word of mouth promotions. Read More
Cite this document
  • APA
  • MLA
(“Employee Benefits Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Employee Benefits Essay Example | Topics and Well Written Essays - 500 words. Retrieved from
(Employee Benefits Essay Example | Topics and Well Written Essays - 500 Words)
Employee Benefits Essay Example | Topics and Well Written Essays - 500 Words.
“Employee Benefits Essay Example | Topics and Well Written Essays - 500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Executive Compensation and Employee Benefits

...Task: Executive Compensation and Employee Benefits There has been a significant rise in the executive compensation over the past thirty years exceeding the increasing levels of the average worker's wage. This has drawn the attention of the shareholders, the public and regulation by the government as a response. In history, incentive compensation has been applied so as to achieve positive financial and performance goals. Finding higher-ranking executives competent enough to communicate the vision of an entity, motivate people and to lead the company towards success can be very challenging. A company with a number of products, clear vision and unique ideas stands to lure the most competent candidates in...
8 Pages(2000 words)Term Paper

Employee benefits

...Employee Benefits Identify the primary reasons for the growth in employee benefits. The growth in employee benefits has come from the need to retain efficient workers in any organization. The lower the attrition rate, the higher the profits, and the long term prospects for the organization. The rising costs of recruiting the right staff are another reason for the growth in employee benefits. (The Basics of Employee Benefits) 2. Discuss the major issues affecting benefit planning, design, and administration. The major issues that affect...
4 Pages(1000 words)Essay

Employee Benefits

...Employees received monetary compensation for the work they perform for enterprises. This is what most people considered the pay employees received for work, but in reality there is a different type of pay which at times has a great impact in the standard of living of employees. This type of indirect pay is called fringe benefits, which is defined as non-salary employee compensation (investorwords, 2007). There are different types of employee benefits, some are mandatory by law while others are offered by the employer to increase the overall compensation package of the employees. Companies also offer these...
3 Pages(750 words)Essay

Employee Benefits & Healthcare

... Information Employee Benefits & Healthcare Overview of Employee Benefits 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. The employer provides this package by consulting vendors who specialize in specific benefits in the benefits package, such as a retirement plan, life insurance, long term and short term disability coverage, and healthcare plan. The individual plans collectively form the employee benefits package. An employee relies on a quality benefits package for security, and an employer competes to provide a quality package to attract qualified employees. Salaries... are...
15 Pages(3750 words)Essay

Employee Benefits

...IAS 19: Employee Benefits History International Accounting Standards (IAS) emerged in 1975 with publication of IAS 1and 2 on disclosure of accounting policies and valuation as well as the presentation of inventories using the historical cost system (Deloitte 2010a). Thereafter, IAS 3-18 was published between 1976 and 1982. IAS 19 was published in 1983 and has undergone series of revisions and amendments to date. The first publication of IAS 19 in 1983 described how employee retirement benefits are accounted for in the employers’ financial statements. IAS 19 was revised on 1993 and the revision was on review of retirement pension overheads. In 1998 and 2000, other...
6 Pages(1500 words)Essay

Designing Compensation Systems and Employee Benefits

...Designing Compensation Systems and Employee Benefits Describe the differences between job analysis and job evaluation and how these practices helpestablish internally consistent job structures. Job analysis is the process in which a job is broken down into its constituent parts. For example, if a job is driving a car, then the constituent parts of the job is keeping a watch on the traffic, determining the speed which is appropriate, wearing the seat belts and being conversant of the road map. Therefore, job analysis is focused on the tasks and not the people who are performing the task. On the other hand, job evaluation is a process of understanding the value of a particular job in the prevailing job...
4 Pages(1000 words)Research Paper

Employee Benefits and Services

...Employee Benefits and Services Number] [02/02 In order to attract or retain a workforce, organizationneed to offer an incentive that could keep a non-citizen in the firm. One might ask the need to give rewards to a non-citizen equivalent to a citizen including retirement or health insurance plans, the simplest answer to this is they are equally competent, providing the similar services, acquinted with the same skills and hence working with loyalty towards the prosperity of the organisation. After a research, it has been found that the productivity and contribution of a non-citizen is relatively higher than a native US Citizen. The reason behind this is that he/she enters the country with an aim to attain...
1 Pages(250 words)Essay

Employee benefits

...Employee Benefits at Richemont Company in Switzerland Question One Richemont Company in Switzerland is the second biggest luxury goods firm globally and eighth biggest according to the Market Index of Switzerland by 2012. The company owns numerous globe’s leading firms in the area of luxury commodity. The company has an efficient code of conduct for its employees with various employee benefits. The company is committed to providing its staffs with safe and healthy working conditions and adherence to its general announcement to Human rights as well as other recognized labor Practice norms. Some of the employee benefits...
5 Pages(1250 words)Assignment

Employee Benefits

...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...
2 Pages(500 words)Essay

Changing Employee Benefits at Longos

...LECTURER: Question Longos took up the initiative of rebranding their employee benefits scheme so that it could be in compliance with the direction the company was taking and also to be contemporary with the current market trends of employee benefits. It is majorly beneficial to the employees since they feel part of the whole process because their feedback and opinions were considered when coming up with this benefits scheme. (McGraw-Hill Ryerson Videos, 2011) It is somehow tailor-made to fit their contemporary needs and also fit the company’s needs. The company too benefits in that by getting onboard the personnel to aid...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Employee Benefits for FREE!

Contact Us