Essay About Holiday Pay And Favor Of The Employee Benefits Package

Hrm 531 Week 2 Dq
I am in favor of the employee benefits package. These benefits play a vital role in the lives of the employees as well as their families. Therefore, depending upon the benefits that are offered can be a factor for a potential employee to decide whether he or she should seek employment at a particular business or not. Employee benefits were one of the reason I accepted employment with the State of Florida. Although my wages are not the best I receive discounted group insurance, the state plays for a $25,000 life insurance policy, There are supplemental plans such as dental, vision, deferred compensations plans, annual and sick leave, holiday pay, and the state pays 97% towards my retirement plan. For the most part I think that most people would feel the same as I when it comes to a company delivering a descent benefit plan. A business can communicated the value of a benefit plan via employee handbook, emails, printed brochures, envelopes stuffers reminding employees of benefits, and at meetings.  Yes, I think that demographic regions should play a role within an employee’s compensation. Certain demographic regions have a higher cost of living because of its location. For an example, for government jobs there is a pay base for each grade and additional compensation based on the grade. The pay value is then multiplied by the cost of living within the area as compared to the national average.  As a result this causes some positions pay scale to vary.  So people in a more expensive city will have a higher multiplier and a higher compensation.  Market Based pay helps to determine an employee’s compensation. This pay is calculated based on the surrounding areas pay range and services offered. There are also laws such as the Equal Pay Act in which businesses have to follow in order to be in compliance with rules and regulations. For non-government positions businesses try to pay as little as they can. Yet, it’s important for the business to still pay a fair pay grade for the work if they want to keep qualified employees.