To attract, motivate, and retain good workers, companies need to define what an employee wants from the employment relationship. One way to define employee needs is to consider “total rewards,” which...

Running Head: EMPLOYEE BENEFITS     PROGRAMS    1
EMPLOYEE BENEFITS PROGRAMS        7
HUMAN RESOURCE MANAGEMENT
EMPLOYEE BENEFITS PROGRAMS
Table of Contents
Introduction    3
Important Variables for Providing Employee Benefits Programs    3
Income Protection Program versus Pay for Time not Worked Program and if they Mandatory    4
List of “Other benefits” that must be Included in Benefit Packages    5
Employee Benefits Package for Exempt Position Level Employee    6
Conclusion    6
References    7
Introduction
    Employee benefits programs is a strategy used by organization to attract highly qualified staff. The aim of the program to keep the existing employees satisfied with the job in order to develop commitment towards the organization. Employee benefit program is a costly strategy implemented mainly by multinational businesses. Small business finds it difficult to employee such kind of strategies.
Important Variables for Providing Employee Benefits Programs
    Providing of employee benefits program is not a single step process. Various steps are taken in developing the program and implementing it. As suggested by Garabato, Gardner and Nyce (2018), one crucial step is identification of variables. Three important variables that must be considered by organization before providing employee benefits programs are reward preferences, work-life benefits and non-core perk preferences.
Reward Preferences:
    Reward preferences of individual change with time. As suggested by Schlechter, Thompson and Bussin (2015), an individual in its early 30s prefer future career advancement and larger bonus opportunity as their reward in comparison to the individuals in early 40s. Individuals in their 40s prefer guaranteed retirement benefit and frequent paid time off per years. Thus, reward preferences are the biggest variable in laying the benefit program.
Work-Life Benefits:
    Work-life benefits varies from individual to individual. As mentioned by Pradhan, Jena and Kumari (2016), work-life balance is necessary in organization to develop healthy organization culture. The preference of work-life balance varies from person-to-person. For example, women especially mother prefers flexible timing or caring for their children like setting of crèche in an organization. Person with long-term illness or disability prefers health insurance. Some single dad prefer work from home opportunity. Choices of work-life balance is different for different individual.
Non-Core Perk Preferences:
    Changes in lifestyle have changed the choices of benefits. Individuals are more inclined towards non-core benefits. As suggested by Schlechter, Thompson and Bussin (2015), non-core rewards are gaining more popularity than...