Issues Companies Face with Employee Benefits

             A primary issue is that of healthcare increasing costs (Walker, 2004). The matter is becoming more and more serious when the expenses with employee medical coverage continue to rise so high that they even place the employer in financial difficulty. The matter of increasing costs is worth debating upon due to the implications it generates on both employee and employer. In this sense, the contemporaneous society has thought the manager to cherish, respect and value the employee as his most important asset. This approach of the human resource brought about several employee rights and benefits. And companies offer more and more benefits in order to be a competitive employer and maintain their employees by increasing their loyalty. But the employee demands more and more benefits, and eventually firms reach a financial impasse.
             A second major issue regards the retirement plans implemented by companies and forwarded to employees. This matter is highly important as it regards the future life of the employee, once he has reached the age of retirement. Then, the company is interested in offering the best retirement plan as this represents its legacy to the former employee. Foremost, it attracts new employees and shows them that the company cares for their staff. Along the years, numerous efforts have been made to develop a more suitable plan to meet the demands of both employee and employer. But the developed plans have always been met with opposition from one side or the other. The most significant issues with retirement plans include: "federal legislation, decreased access to clients, increased product competition, administrative issues, state legislation, regulation and certification" (Wood and Attaran, 2005).
             Yet another significant issue relative to the employee benefits regards the flexible schedules and the impact they have upon careers. The most relevant example in this sense is given by the FWA (flexible work agreements...

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Issues Companies Face with Employee Benefits. (1969, December 31). In MegaEssays.com. Retrieved 21:30, November 17, 2024, from https://www.megaessays.com/viewpaper/203144.html