A company cannot be successful without the support from the employees. Therefore, there is a need to maintain a good moral workforce and provide different benefits to the employees. Benefit programs are essential and critical for employees especially when social security insurance does not cover short-term disability that results from a job-related accident. There are a lot of jobs with high risk where employees can get injured such as roofers, painters and electricians (Snell, Morris, & Bohlander, 2016, p.431). Employees might not feel safe or comfortable if their insurance does not cover their short-term disability. It is very important to pay close attention to those employees since there is so much at stake with with the possibility of company expenses such as disability, and medical care. There are also several important insurances such as retirement plans, health insurance and education assistance a company can provide as a benefit program to alleviate the risk of issues (Snell, Morris, & Bohlander, 2016, p.420). Those optional benefits programs can be costly but effective. A strong employee benefit can help the business company to improve morale and retention. Employees themselves can feel comfortable and safe while they work, this leads to a higher productively and healthier working environment.
Benefits programs are seen as a great motivator to reward employees based on the job they do. They are also a great way to retain employees that are not especially passionate about the job they do but are essential to the wellbeing of the company.
One type of benefit programs is the FFEBP (Family Friendly Employee Benefits Programs). According the article study by Mulvaney, FFEBP are employee benefits that extend b...
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...executives short-term incentive for reaching an organizational goal such as reaching a specific profit level or raising productivity in order to increase revenues (“Fringe Benefits & Executive Perks”, 2016). Companies also offer “perks” to their executive employees such as free or reduced cost parking, club memberships, and transportation services (“Fringe Benefits & Executive Perks”, 2016). These “perks” are meant to improve the employee 's ability to their job well. Though these “perks” that are offered have good intentions they can often be abused; because of this short-term benefits should be offered on a case-by-case basis and not simply at the discretion of the employee without overview. In addition, executives may receive benefits in levels beyond those received by entry level employees for health insurance, retirement plans, life insurance, and pension plans.
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