Essay Writing Help on Employee Benefits

Employee Benefits

Introduction

This paper will detail both voluntary and mandatory benefits that employees can be offered at the Institute of Human resources management Company in North Dakota through the Human resources department. A new employee at the company can use it to make a decision on the kinds of benefits that they would choose that would best fit them.

Mandatory benefits

There are some benefits, our company offers to its employees regardless of whether they are on casual or permanent basis, and whether they are low level, middle management or top level executives. The rate for the various types of benefits that are available to employees is usually determined by their wages or salary. The wages or salaries are dependent on the state and federal laws, union or negotiations made between the employee and employer. However, for all positions at our company, the wage or salary paid is be equal to or above the government recommended level (Snell ‎& Bohlander, 2012).

Unemployment Insurance

This deduction by us (the employer) to the government is used to fund unemployment schemes that are available in different states in the country (United States). The unemployed are on welfare whereby they get some form of compensation to help them get by before they can secure employment and be able to provide for themselves and for their families.

Social Security

This is tax paid on the payroll whereby you (the employee) pay money to the government based on their salary scale (employees). We; the employer pay half of the tax while the employee contributes half and it is sent to the Internal Revenue Service (IRS) (Society for Human Resources, 2013).

Health and Medicare

Our company offers health insurance as a mandatory benefit. We recognize that the well being of our employees is almost always equivalent to high productivity. Employees cannot work satisfactorily if they are not feeling well. Our company uses group health plans for employees because they are more affordable and offer convenience, rather than insuring each and every single employee. Such health care programs are also convenient for the employees because they are pocket friendly in comparison to alternative private health insurance schemes. The United States of America does not have a national health fund scheme, and health care costs are usually expensive for most nationals of the country.

Voluntary benefits

Voluntary benefits are those that the employer is not mandated by the law or unions to pay to the employee; but act as a motivating factor to improve performance and productivity by the human personnel. The types of voluntary benefits that we offer employees are dependent on the revenue earned by the organization, and long term sustenance. An organization has to be performing well if they are to offer voluntary benefits to employees such as paid vacations. There is a reasonable limit on the money and time that can be spent on vacation at the company’s expense.

Planning for savings for retirement benefits

As employers, we have increased the number of programs that are offered to employers so as to remain highly competitive in comparison to other industry players. We value our employees, and know that they appreciate our efforts to secure their future by advising them about the investments that they can make so that they have a financially secure future (Society for Human Resources management, 2013). The employees are therefore able to concentrate on their work and career progress.

Programs and services geared towards employee wellness

The Institute of Human resources Company has now increased the level of coverage that we offer to employees such as sponsoring employees to be in sports team that compete with other employees from competitor organizations. Such services give employees social events where they can unwind in a constructive manner.

Paid Holidays

Our company offers employees pay for holidays when they are working or are off from work such as on public holidays like New Year, Thanksgiving, Christmas and Labor days. Most federal and state employers give their employees up to 12 working days when they are paid when off or on public holidays (Society for Human Resources, 2013). This serves as a motivating factor because employees feel that the employer cares about their welfare even when they are resting since they cannot work throughout the year.

Disability pay benefits

Our company offers this type of benefits for either temporary or permanent disability. This type of benefit is especially popular for certain industries that have factory settings where there is high risk of employees being injured. Our company is quite considerate and offers this benefit when the said injury is incurred in the work setting.

Vacation benefit

This is a highly regarded type of benefit for an employee that we make available to employees. Employees are allowed to go on vacation for a specified duration, and the expenses incurred are paid for by the company. The amount of money that is paid is usually determined by the rate of pay that is offered to the employee such as hourly rate. Employees that have been with a company for long are usually the first ones to be offered such kind of benefits, and top and middle management executives.

Company property benefits

Our company offers employees benefits such as a work vehicle for positions such as sales personnel that have to visit different regions. We also provide phones to some employees usually depending on their department. Sales personnel might be given company phones to use since they are expected to call a large number of clients in order to bring in huge revenues to the company.

Conclusion

This paper has explored the voluntary and mandatory employee benefits that can be offered by the Institute of Human resources management Company in North Dakota through the Human resources department. Mandatory benefits are the advantages offered by our company to employees as a requirement by law such as social security, unemployment insurance and health insurance. We offer voluntary employee benefits to employees as an added advantage to motivate and raise their morale, with the goal of raising productivity at the company. Higher productivity results in better performance for an organization. The above benefits plan is a good guide for new hires at the Institute of Human resources management Company in North Dakota.

References

Jackson, S., Schuler, R. & Werner, S. (2011). Managing Human Resources. Ohio: Cengage

Brain.

Snell, S. ‎& Bohlander, G. (2012). Managing Human Resources. Ohio: Cengage Brain.

Society for Human Resources management. (2013). Employee Benefits. Retrieved December

19, 2014 from http://www.shrm.org/research/surveyfindings/articles/documents/13-0245%202013_empbenefits_fnl.pdf