Compensation and Benefits

First  class  after  semester  break,  begin  with  the  compensation  and  benefit  system  which  is  often  engaged  with  supplemental  pay  benefits  such  as  sick  leave,  insurance  benefits  such  as  medical  compensation  on  injuries  and  last  but  not  least  is  the  retirement  benefits,  the  pension’s  financial  plan.  These  benefits  are  often  associated  with  the  welfare  of  employees  that  should  be  well  considered  before  becoming  a  part  of  the  company.  For  me,  the  first  consideration  to  find  for  a  job  is  to  compare  the  benefits  and  welfare  provided,  and  then  second  would  be  the  salary.  Anyway,  in  terms  of  benefits  provided  varies  among  companies  according  to  policies,  so  as  the  legal  concerns.

Often,  the  policy  issues  are  associated  with  how  to  finance  benefits,  which  benefits  to  offer  and  who  will  be  covered  and  so  on.  In  my  viewpoint,  the  company  that  put  high  concern  on  human  capital  development  will  have  higher  benefits  level  provided  either  to  retain  employees  or  to  motivate  them.  Whereas  supplement  benefits  will  be  preferable  for  employees  that  engaged  with  frequent  time  off  employees  that  lack  of  help  in  child  care  (parental  leave).  Even  the  employees  have  the  right  of  receiving  these  leaves  but  it  will  affect  the  productivity  and  efficiencies  of  the  company.  Therefore,  for  employees  especially  in  this  group,  a  flexible  work  time  will  be  highly  suggested  to  have  work-life  balance  (Beauregard,  Alexandra,  Henry,  &  Lesley,  2009).  Third  benefit  is  the  insurance  benefits  as  well  as  medical  subsidiary  engaged  highly  in  safety  and  health  among  employees.  Anyway,  there  is  limit  management  in  health  benefits  to  avoid  excessive  use.  Lastly  is  the  retirement  benefit  that  regarding  the  pension  life  plan  when  not  working.

      In  conclusion,  as  employees  are  main  assets  of  a  company’s  development  and  their  contribution  are  undeniable.  Therefore,  benefits  or  services  are  highly  necessary  to  repay  their  contribution  and  to  motivate  them  to  have  better  achievement.

 
Beauregard,  T.  Alexandra  and  Henry,  Lesley  C.  (2009)  Making  the  link  between  work-life  balance  practices  and  organizational  performance.  Human  resource  management  review,  19  .  pp.  9-22.  ISSN  1053-4822