Benefits Booklet, business and finance homework help

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Business Finance

Description

Benefits Booklet

You have been asked by your human resources (HR) director to create a benefits booklet for the employees within your organization. In your booklet, you will explain the discretionary (including pension and retirement plans) and mandated benefits that your organization offers. Use Chapters 9 and 10 in the textbook to review these types of benefits, and choose the ones that you would like to use within your organization. Be sure to completely explain these benefits and how to use them within your booklet. When discussing pension and retirement plans, ensure that the participation requirements for these plans are fully described.

Your booklet should consist of at least five pages

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Explanation & Answer

Attached.

Running head: BENEFITS BOOKLET

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Benefits Booklet
Institute Affiliation
Date

BENEFITS BOOKLET

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Introduction
Benefits are non-wages or Salary addition that is given to employees on top of the
monthly or normal earning of the employee. Employers are entitled to some of these
benefits and an employer is mandated by the law to give them to employees
(Inderbitzin, Staubli, & Zweimüller, 2016). This is found in the employment laws as
well as the federal laws. These benefits may come in many ways and they include
insurance benefits, daycare for employees with children, vacation benefits which may
be paid or non-paid, sick leaves, disability payment and work schedule arrangements
just to name a few. Therefore an organization must make sure that they come up with
a benefits plan in the organization to make sure that their employees enjoy them. An
employer does not have to offer all the available benefits but he has to offer some
benefits.
The Importance of a Benefit Plan
Although is an expensive endeavor, it is very important that an employer offers
his employees a chance to having benefits as this will be motivation go emigre to
work harder at their job. Benefits are also the reason to why employees are aware that
they are cared for and their work is appreciated.

This way the organization is able to

retain good talent at and even attract more talent. There are advantages both for the
employees and for the employees when benefits are offered.
The benefits that employees will have when they offer benefits to their employees
are that when an employer provides a flexible and good benefit plans to ghetto
employees, there is a high chance of employing and retaining good talent. Another

BENEFITS BOOKLET

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advantage is that many people view offering benefits to employees as managing high
risk at a cheaper price as this will save the finances of the organization, employees are
even more productive when given benefits as they are sure about security for
themselves and their families...


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