Management Paper
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Describe the importance of employee benefits as a strategic component of fulfilling the goals of HRM. The importance of employee benefits allows a company to reduce the turnover rate, or set an industry best safety record. For any HRM program to work you must first know what motivates your targeted employee market. Most employees aren’t motivated by the paycheck it’s the perks that go along with the paycheck. Obviously Motek has done a great job of this to have the “lowest turnover rate in the industry.” They understand there is more to it all than money. The desire of being accepted and appreciated is equally if not more important, and Motek has found ways to show its’ employees this and more. Giving them “paid lunches” communicates we care for your well being and appreciate your hard work. For me Intel has a descent perk package, from discounts at hundreds of locations, to 100% tuition reimbursement (only if you study in a field they want you to). But how can this be used in goals related to safety? Well an undistracted employee is less likely to be an unsafe employee. Meaning that when an employee is worried and as to think about how they going to get a family member cared for, or how they are going to move up the food chain without education, their mind is not on the job.
Explain how Motek is using employee benefits as a motivating tool. The carrot on a string, 10 years and you get to drive a luxury car leased by the company; one word SWEET! Intel does something neat also every seven years, and that is what they call a sabbatical which is 2 months paid time off. This is separate from normally vacation time and can be combined with it.
Do you believe the incentive benefits such as those offered at Motek can be used in other organizations? Why or Why Not?