Question

Question: Many organizations are concerned about the rising cost of employee benefits and question their value to the organization and to employees.

• In your opinion, what benefits are of the greatest value to employees? To the organization? Why?
• What can management do to increase the value to the organization of the benefits provided to employees?

Answer 1

1st part:

The benefits that provide the greatest values to the employees are the pension after retirement and medical benefits or health insurance during and after serving a period in the organization.

The main reason is that it will boost the employee’s state of mind to work with more effectiveness. It will increase task efficiency allotted to them and finally can strengthen the employee's mind to work harder and achieve commendable outcomes for the organization.   

From the organization's perspective, it will heighten the working status to be more functional and charged in terms of work fulfillment. The organization will attain the height of growth for providing benefits to the employees as it will make the employee feel secure in the organization. Trust will be gained and it high-rise the level of confidence to the employee's mind that is likely to be witnessed in the employee's work. Such a factor will result in scale the organization's growth towards success in terms of market holding and retaining with targeted customers for a prolonged period of time should be maintained.   

2nd part:

Any employee wants to get a better facility from the serving organization as it gives the mental stability to sustain with the same organization. The manager is required to work on certain areas to provide employee benefits to raise the organizational value. Likewise, under any health insurance plan employee should be moved to enroll at the joining date with the organization and a little sum of funds from their earnings should be taken for providing such medical benefits to employees and some chosen family members. A fixed salary should be offered to the employees and a sum of the amount should be taken by the organization for providing the pension benefits at the retirement age.   

Therefore, it will enrich employees' mind satisfaction to work hard and push to achieving beyond limitations. The organization is likely to achieve its goals and reputation will be gained. From the industry, more work will be achieved to the organization because of employees' effective work conduction and result to gain a good position at the market in terms of growth.