During downturn that started in 2008 many companies cut employee benefits and compensation. After recovery assess which benefits and compensation should be the first to be returned to employees and how they should be reinstated. Support your response
Companies generally provide compensation and benefits such as partial medical premiums, paid vacation days, paid sick days, fees for professional advancement education.
In mu judgment, companies should reinstate the benefits in the following order:
1. Medical premiums 2. Paid sick days 3. Paid vacation days and 4. Fees for professional advancement education.
Medical premiums reinstatement concerns health of the employee and his/her family members. Reinstating this benefit should be the top priority of the company because healthy employees are more productive. This benefits both the company and the employee. Next is sick days for the same reason but is less beneficial to the company. Paid vacation days are important for employee's recreation and rejuvenation after spending so much time at work for the company. Again it increases the productivity. Lastly the fees for advancement improves the professional level of the employee and as a result company's capabilities to take on difficult projects increases.