Sample Business Studies Paper on The prioritized list of Benefits Packages for OHP standard

Discussion One

In my opinion, benefit packages should not be provided by an employer as a way of keeping the most competitive employees at the company or instigate corporation. This is because of the fact that they do not appreciate the ordeal. In some cases an organization may fall short of realizing the benefit of the investment they have made towards an employee’s retention. People tend to differ with my opinion in that they value the benefit packages and view them as a motivational factor. Benefit packages makes the employee feel worthy because of the appreciation accorded by an organization hence works to meet the expected standards. This helps in distinguishing employees as being best performers or poor performers.

 There are many ways an organization can use in communicating the value of a benefit package. One of the ways is oral communication using a language that reflects all the packages not just the salary. By doing this, an employee’s equates value to his or her benefits that is inclusive of the salary. Secondly, having fair benefits communicate so much about the values of the packages. This will be done by inviting experts from different areas to explain and answer questions that an employee may feel unanswered. Thirdly, we have development of a written communication system that addresses the particular benefit packages of individual employees. This involves the employee handbooks, benefit statements, and pay stuffers and employees newsletters. Employee’s handbooks are used by companies as a channel of communication in the event there are changes made regarding policies and benefits (Oregon Health Services Commission, 2013). Pay stuffer on the other hand is where an organization rewards best performance in some areas by paying for dinner or paying a movie.

Discussion Two

Demographic region should play a very big role in employee compensation as outlined below. One of the reasons is that highly populated areas provide adequate workforce to the companies hence need to reduce the compensation rate. On the other hand, low populated areas are characterized with low labor force an action that drives the compensation rate high. Therefore, forces of demand and supply of labor force should be considered in the compensation program by organizations. Another reason as to why demographic factors should be incorporated in determining the right compensation rate is availability of specialized services needed in performing specialized duties. In highly populated areas, specialized services are in plenty as compared to sparingly populated areas.  

Some of the data required by an employer in the event of employing an employee includes the number of dependants, experience and level of education, residential location and health issues. Dependant of an employee will determine the compensation rate because an employee is deemed to benefit by working in an organization (Warwick, 2012). The salary gained by an employee is used in meeting the needs of the family as well as caring for the dependants. Education levels and experience is the major factor that determines the salary of an individual because an organization is also looking for an employee value to the welfare of the entire firm.  Another factor is the location of the residential area where the person lives. If an employee resides at a far place from the organization, special considerations are necessary. Finally, we have the health issues of an individual. For those employees that suffer from special diseases, special arrangements are made to ensure that they operate in a favorable environment.

References

Oregon Health Services Commission. (2013). Prioritized list of benefit packages for OHP standard: Interim report to the Governor and Legislative leadership. Salem, OR: Author.

Warwick, A. (2012). Compensation. New York: John Lane Co.