Totally integrated employee benefits


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Totally integrated employee benefits

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Totally integrated employee benefits

  1. 1. Totally Integrated Employee BenefitsDr. G C Mohanta, BE(Mech), MSc(Engg), MBA, PhD(Mgt) Professor
  2. 2. Difficulty of WorkersWorkers are experiencing great difficulty due to work and family responsibilitiesMany employees are single parents or members of dual income familiesNo one available at home during working hours to care for family
  3. 3. Work and Family ProgramsCompanies instituting work & family programs as part of “totally integrated employee benefits system” & providingchild care at reduced costcare for mildly ill childrenparenting support groups“beeper-alert” program during family emergencytime-off program in which parents can take time off- to accompany their children on the first day of school or- to attend parent-teacher conferences
  4. 4. Advantages of Work and Family ProgramsFamily-friendly benefits help employees- to strike a proper balance between work and family life- to increase their overall productivity- to reduce absenteeismIt can help oranisations- to remain competitive in global market- to attract & retain valued employees & motivate them- to reduce turnover and improved recruitment
  5. 5. Totally Integrated Employee BenefitsExamples of totally integrated employee benefits:• Work schedules with- Flextime- job sharing,- condensed workweeks and- telecommuting• Employee assistance programs to help employees cope with personal/family problems/financial concerns- family leave- adequate health care coverage- elderly care- resource and referral services
  6. 6. FlextimeSome employers allow flextimeFor flextime working, the office should be coveredSufficient employees must be available at worksite when neededFlextime allows employees- to choose their own work hours- to work same no. of hours each day, timing may vary
  7. 7. FlextimeMost important feature of flextime:Employees are permitted to strike a balance between their personal or family lives and their careersWith flextime, companies can- increase their overall productivity,- reduce absenteeism, and- better retain valued employees
  8. 8. Flexible Work SchedulesFlexible Work Schedules reduces turnover and improves recruitmentJob sharing, telecommuting and condensed workweeks are used to attract qualified applicantsIt help employees who want to work, but are not in a position to work a set 40 hours per weekJob sharing system usually allows two people to work on part-time basis & to split duties of one full-time jobEach employee is paid accordingly
  9. 9. Condensed Work WeekUnder condensed workweek, number of hours worked per day may be increasedNumber of days in the workweek may decrease (known as 4/40)Variations of condensed workweek may include reducing total hours worked to 36 or 38 hours
  10. 10. TelecommutingTelecommuting allows employees to work at home or while travellingWith IT employees are able to interact & communicate with persons at their officeGiven opportunity to modify work schedules, they will not make choice between career & familyThey will have no problem juggling between - career and family life
  11. 11. Employee Assistance Programs (EAP)EAPs are designed to help employees to cope with stress, personal, emotional or financial concerns or family difficultiesMain focus of EAP programs is to help employees resolve their problems, in the workplace environmentEmployees may be provided with in-house assistance, counselling, or referrals outside the companyPublic sector employers can economically provide such programs as they value their employees
  12. 12. Dual-Career FamiliesDual-worker families with husband and wife working are growing“Traditional” families where husband was only working are decliningParticipation rate of mothers in labour force are increasingRate for unmarried mothers (single/widowed/divorced/ separated are increasing Mothers with children under a year old are also increasing
  13. 13. Dual-Career FamiliesThe choice of dual-career family is for reasons as follows:- future financial stability,- providing a stable home- providing college education for the childrenSome families may decide that at least one of the parents should stay at homeEmployers can help dual-career families to allow choosing work schedule modifications, such as, “flextime” or “job sharing”
  14. 14. Family-Friendly OrganizationEmployers can offer following family-friendly benefits :• Flexible work schedules• On-site/near-site child care• Sick-child care• Dependent care reimbursement account• Homework assistance programs• Extended leave care• Elderly care• Telecommuting• Time-off benefits for children’s school activities• Employee Assistance Programs
  15. 15. Family Care BenefitsWhen employees are at work, they are mentally not “detached” from family concerns & responsibilitiesWork and family are interdependentFamily matters can have a great impact on work performance and successes in lifeIncreasing concern about family issues due to increase of women in workforce
  16. 16. Child CareEmployers can provide non-health benefit like child careChild care is in high demand among single-parent and dual career familiesChild care benefits can be on-site day care facilities, discount vouchers or financial subsidies, & sick-child careAt least one parent required to stay at home to care for childrenPreviously women used to care for children & household, but today they need to work outside home
  17. 17. Child CareSome employers are providing child care assistance to their employeesThey are offering some benefits, schedule help, or other services relating to child careThey may provide on-site day care at no cost to employee or for a moderate feeThis benefit can be an effective recruitment aid and can reduce absenteeismMany employers extended some form of child care benefits to their employeesSome offers sick/emergency child care programs andSome provides child care centers
  18. 18. Child CareChild care arrangements were exclusive function of familyToday on-site and near-site day care are more popular forms of child care benefitsAnother common child care benefit is dependent care reimbursement accountIt allows employees to pay for qualified child care expenses with pre-tax benefitsMany companies have on-site /near-site day care centers/nursery & elementary school to teach grades I & II  
  19. 19. Elderly CareMany employees are responsible for caring their elderly parentsEmployee is caring for- an ill elderly parent- his or her own children and- trying to pursue a careerSome employers are providing these services to employees’ children& also to their disabled & elderly dependents Employees over age of 30, currently spend 10 hours/week for giving care to an older relativeSome workers who care for aging parents are forced to quit their jobs to do so
  20. 20. Child Care & Elderly CareCare for children/elderly & disabled dependents have been viewed as outside concern of companiesThe expenses and arrangements for such care, have been born by employeesEmployee is- subjected to distractions,- missing from work for emergency reasons and- taking children and elderly dependents to doctor & hospitalLost productivity due to this can cost a company considerable amount of moneyMany workdays loss/year is attributed to employees ,caring for an elderly relative
  21. 21. Health CareEmployers with 20 or more employees are mandated by law to provide medical benefit to the employeeHealth care has become fastest growing costs, due to- longevity- much needed medical care, and- increased costsPeople were required to sell their homes & possessions or have faced death previously as- they lost their jobs unexpectedly or- they have inadequate health care coverage
  22. 22. Tuition ReimbursementEmployees should achieve their personal goals & also should focus on organizational goalsThis can be achieved through tuition reimbursement programTuition reimbursement can be beneficial to employer & employee.Tuition reimbursement programs compensate employeesThe amount of reimbursement is contingent upon the grade actually received by the employeeThe employer is also benefited as he can utilize the knowledge and skills acquired by the employee
  23. 23. Job SecurityIf employees are asked to rate which is most important to them - job security, salary, or job recognition?The overwhelming response would be job securityEmployees should be continued on the job and should not be removed on silly groundsA good salary response is very closely aligned to that of job securityMany successful organizations are using “performance- based pay” to motivate their employeesIf employers want to minimize turnover , they should ensure that employees receive pay in accordance with their worth