Essay About Reasons Employers And Unemployment Insurance

Hmr Chapter 14
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Chapter 14One of the reasons employers provide benefits for employees instead of cash compensation for them is because employers are required to provide certain benefits for employees by law like Social Security, and unemployment insurance. However Laws can actually make benefits more enticing to employees due to the employer’s benefits ability to avoid taxes. If employees received cash compensation to pick their own benefits, that money is subject to taxes. To where if employers provides their employees with benefit compensation the employee gets the full amount of compensation through their benefits. Usually employers get deals on their benefits packages that also cut costs for employees. The benefits required by law include: Social Security, Unemployment insurance, Workers’ compensation insurance, Family and medical leave, and Health care. For Social Security employers cut costs is by splitting the cost between them and employee through payroll tax. For unemployment insurance employers found that helping laid off workers find new jobs reduced their time for paying out unemployment insurance to employees. The way employers can keep workers’ comp. down to a minimum is by taking extra effort to ensure workplace safety and be proactive in fashions like employee training. For family and medical leave employers need to keep track to ensure that the policy isn’t being abused. If I were a human resource manager and I found out that the health insurance policy was going to rise by 15% in the next year I would offer my firm multiple options for health coverage to let them choose what they want to pay for a premium. Being a small firm it is simpler to individualize plans to fit employee preference. Since it’s a small firm we wouldn’t have the ability to gain lucrative discounts or deals with benefit packages thus taking that perk out of the employer offers. So to counteract that we provide a minimum a medium and a max for packages. An organization should take into consideration its firm size when selecting benefit packages. Also think of the things that the Law requires them to implement in their packages. For family leave the standard is 12 weeks unpaid for employees. However people typically don’t use the full 12 weeks. On average it’s around 10 days. But the policy will also extend to the frame of situations like injured family member apart of the armed services. It could be up 26 weeks for family related injuries in the military. Taking ResponsibilityStarbucks tuition reimbursement program doesn’t meet the full criteria for fulfilling all aspects of a benefits package. The benefit isn’t required by law but it is an effective incentive to achieve Starbucks intended goal with the overall program. I think the tuition program is great. Being a college student and if I were a the advisor to the Starbucks tuition program I would have been on board with it all the way. It’s a great incentive to help college students along with motivating an employee base. There isn’t a shortage on students so It proves to be a steady stream of motivated individuals for lengthily employment.