In contrast, flexible benefits include a wider variety of benefits and allow employees to choose benefits plans that are more suited to their personal needs and wants.Bohlander and Snell argue that flexible benefits plans are more suited to modern workforces due to the diversity of the modern workplace.Tags: How To Write A Grad School Application EssayInstruction Words In Essay QuestionsKellogg Essay QuestionsTeaching Photo EssayDna Extraction Lab ReportA Good Dissertation IntroductionCover Letter Ithaca CollegeWhite Paper Writing Services
In many cases, this type of benefits package may be less expensive for employers as it allows them to tailor benefits to the needs of employees rather than purchasing standardized packages that include benefits an employee may not utilize.
Flexible plans allow employers to meet employee benefit preferences rather than asking them to accept benefits they may not need or want.
Another issue that arises in the literature is that very few benefits studies that are not funded by federal agencies or national human resources organizations appear to be available.
There are several arguments present in the literature about why employees prefer different types of benefits.
One can define benefits as any type of compensation that an employee receives from their workplace that does not include a cash transaction.
These may range from standard packages that include medical dental and life insurance to more involved packages and add benefits such as, retirement accounts (IRA, 401K), country club or fitness club memberships, store discounts, free meals, and credit unions.
This will be effective in helping employers to determine which types of benefits packages employees will find attractive and how to make changes to current benefits packages that will increase employee motivation and job satisfaction. First, the study will consider focus on the general concept that employee benefits can either increase or reduce job satisfaction.
Second, the study will focus on which benefits are more likely to increase or reduce job satisfaction in the employees participating in the study.
For example, people must have physiological and safety needs met before psychological and social needs.
This means that employees are more likely to prioritize health and wellbeing benefits such as, healthcare, salary, and retirement accounts ahead of benefits such as, childcare, vacation time, and health club memberships.