Essay on Employee Compensation Programs

Essay on Employee Compensation Programs

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Benefits have most definitely changed throughout the past years. According to Compensation, during 1880 people worked approximately 14 hours every single day except on Sundays and would only receive a raise if they stayed with the company for five years and if the company prospered during that time (Gerhart, 2011, p. 414). Over the next couple of years, employees began seeing work hours change from 60-64 hours per week to 54 hours by the year 1930. Eventually, employees were able to have holidays off to enjoy with families, but they still did not receive pay for those off days, though. Today's society seems to have it made compared to those times; many companies offer education reimbursement, employee training, child-care services, and retirement benefits just to name a few (Gerhart, 2011, p. 415). According to PayScale, the most popular benefits in the manufacturing industry is 401(k) coming in at number one, paid holidays and vacation at number two, life insurance, paid sick leave, company pension plan, casual dress/atmosphere, and education and training reimbursement (PayScale, Inc., 2011).
While many companies offer extra benefits to keep its employees motivated, there are still a few government mandated laws that are required to be given to the employee by the company. These benefits include social security, unemployment insurance, workers' compensation, family and medical leave, and COBRA (elinfonet.com, LLC, 2011). Workers' compensation deals with job related injuries and illnesses. This compensation benefit allows employees to receive cash benefits, rehabilitation, and medical care while he or she is not able to work (elinfonet.com, LLC, 2011, ¶ 2). According to the Social Security Act of 1935, employees that lose thei...


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elinfonet.com, LLC. (2011). Human resource guidebook: Government mandated benefits. Retrieved October 25, 2011, from Employment Law Information Network: http://www.elinfonet.com/human-resources/Government-Mandated-Benefits/
Gary, S. (2011, April 12). Benefits perk up CEO pay packages. USA Today .
Gerhart, B. M. (2011). Compensation (10th ed.). New York, NY: McGraw-Hill Companies.
Overman, S. (1994). Selling your compensation plan. HR Magazine , n.d.
PayScale, Inc. (2011, October 25). Most popular benefits - job: Manufacturing worker (United States). Retrieved October 25, 2011, from PayScale: http://blogs.payscale.com/compensation/2010/03/average-salary-of-jobs-in-manufacturing.html
Utz., J. L. (2001). Family and medical leave act: The employee benefits implications. Journal of pension planning & compliance , 32 (4), 15-46.

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