Should the most highly regulated benefits be linked to individual group and/or organization performance? Why or why not?
Should the most highly regulated benefits be linked to individual, group and/or organization performance? Why or why not?
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Order Paper NowMany benefits are not required by law but are common in workplaces today. These include accidental death and dismemberment insurance, some form of retirement plan (including profit-sharing, stock option programs, 401(k), and employee stock ownership plans), vacation and holiday pay, and sick leave. Some companies also offer various services, such as day care either free or at a reduced cost. It is also common to provide employees with discounted services or products offered by the company itself.
In addition, there are certain benefits that are required by either state or federal law. Federal law, for example, requires the employer to pay into Social Security, and unemployment insurance is mandated under OASDHI. State laws govern workers compensation plans.
Before starting this assignment, be sure that you are familiar with the following laws and their amendments:
¢ Internal Revenue Service, Publication 15 (2013). Employers Tax Guide (Social Security)
¢ Van Blaricom, D. (2013) Payroll taxes; basic information for employers
¢ Unemployment Compensation
¢ Workers Compensation
¢ Total Rewards Plans
¢ Family and Medical Leave Act
¢ Consolidated Omnibus Budget Reconciliation Act (COBRA)
¢ Health Insurance Portability and Accountability Act (HIPAA)
¢ Patient Protection and Affordable Care Act
Recall that total rewards refers to all the tools available to the employer that may be used to attract, motivate and retain employees. Total rewards include everything the employee perceives to be of value resulting from the employment relationship. Click on this link to review the total rewards concept.
Even though benefits are costly for organizations and are a large percentage of their labor costs, many people do not believe employers receive an adequate return on what they have invested in the benefits.
Please answer the following in a well-integrated paper:
Should the most highly regulated benefits be linked to individual, group and/or organization performance? Why or why not?
Give specific examples of benefits that should and benefits that should not be linked to performance. And explain why.
Provide real-life employer examples (by employer name).
(Note: This SLP assignment focuses on employee benefits, not on employee pay plans, since pay plans are the focus of the Module 5 Case Assignment.)
Bring in at least 2 TUI library sources plus any applicable background readings to help strengthen your discussion.
The paper should be 2-3 pages, not counting the cover and reference pages.
SLP Assignment Expectations
Demonstrate critical thinking and analysis of the relevant issues and HRM actions, drawing on your background reading and library research.
Information Literacy: Evaluate resources and select only library/Web-based resources that provide reliable, substantiated information.
Give authors credit for their work. Cite sources of borrowed information in the body of your text as footnotes or numbered end notes, or use APA style of referencing.
Prepare a paper that is professionally presented (including a cover page, a list of references headings/subheadings, and a strong introduction and conclusion). Proofread carefully for grammar, spelling and word-usage errors
