I must have ORIGINAL work only with UP TO DATE references a MUST the assignments needed will be provided Assignment 4: Human Resource Business Partner (HRBP) DevelopmentDue Week 10 and worth 250 point

Running head: EMPLOYEE BENEFITS PROGRAMS 1

Strategic Value of Employee Benefits Programs 

Phyllis Spears Jones

Strayer University

HRM599 Capstone

Dr. Gary Wash

June 2, 2020

Strategic Value of Employee Benefits Programs 

For a commercial entity to stay competitive in the changing business world, it needs to have a strategic human resource department that acts as a strategic partner to ensure it has the best to gain a competitive advantage. The human resources department, therefore, needs to put itself in a decisive role that helps it to attract and retain highly skilled employees. This is affected by several factors that include types of benefits from the company that accrues to the workers. In other words, employee benefit programs are useful in creating an atmosphere that makes employees more engaged and motivated (Klonoski, 2016). Therefore, for a company to be strategically in terms of competition, the human resources department needs to step away from conventional administrative roles to be a strategic partner who recognizes the value of employee benefit programs and the role they play in generating a significant competitive advantage. This makes it vital to be mindful that an excellent employee benefits package attracts and maintains the skills required to distinguish a company from its competitors. This paper discusses the factors to considers when providing employee benefit programs, compares and contrasts income protection programs, and pays for time not worked programs and other benefits that are necessary for the benefits package.

Factors to Consider Before Providing Employee Benefits Programs

Everyone is aware that rewards are components of an organization's overall incentive package. It is also worth noting that other than the traditional pensions and healthcare plans, employees need a broader choice of benefits that reflect the changing needs and lifestyles (Hagel & White, 2016). It is undeniable that every commercial entity must ensure that it has in place attractive employee compensation packages to attract and retain the talent needed to gain a meaningful competitive advantage. It must, however, be recalled that many essential variables play a crucial role in deciding an economic entity's employee benefits programs. One of these variables is the type of benefits to be provided. Some benefits are too expensive to provide while others are within reach of many business organizations. Therefore, a commercial enterprise must weigh its financial soundness to avoid providing a benefits program that works against its overall objectives.

Another variable to consider is aligning the benefits strategy with the business objectives. The human resource department of an organization must revisit a plan quite regularly to ensure that it meets the changing needs of the employees while supporting the priorities of the business ((Hagel & White, 2016). Also, the company must consider educating its workforce about the benefits programs. This entails explaining to the employees how the benefits feet into the goals of and reward policy of an organization. Taking this step boosts the understanding and appreciation of employees, as well as the value of the program to the organization.

Elsewhere, the level of compensation and benefits is another important variable that must not be overlooked. This goes a long way to affect other factors. For example, a company should be concerned with the tenure and success of the employees while providing sufficient employee benefits. It cannot be forgotten how long an employee has been in the company and how good his or her success has been when providing benefits to the employees. Likewise, a company should have a more substantial interest in the management approach of workplace benefits. Healthcare is another essential variable to consider.

Most business organizations provide healthcare benefits to their workforce. Nonetheless, business organizations that transcend healthcare benefits to their employees to include their spouses attract and retain highly talented employees. Sadly, the cost implication associated with adding the employees’ spouses in the healthcare benefits undermines the noble idea. Hence, many organizations that are not able to walk this path are not able to recruit and retain top talents because of the costs that increase the overall costs of the organization. Therefore, a company must consider those variables that fall within its financial limits to avoid overstretching their resources.

Income Protection Programs and Pay For Time Not Worked Programs

Income protection programs benefit workers because they serve as a buffer or safety net to the wages of an employee if one is ill, injured, or can no longer work because of physical disabilities. The programs are designed to provide income protection to employees in case they become unable to work due to sustained injuries or sickness (New York State Department of Civil Service, 2017, p.1). Some nations, such as Canada, require employers to provide their workers with income protection programs. This has been provided in their labor legislation so that employees can still have an income if injured and can no longer perform their regular duties.

Employers in the United States are expected to make fifty percent of an employee's contribution to social security. This ensures that the employee has an income in case of complications such as sickness or disability that hinder an employee from performing the regular employment duties or reaching the retirement age. An example of income protection programs is, amongst others, workers ' compensation. The workers' compensation offers medical care to an employee for the injuries suffered while at work. Furthermore, workers are given involuntary disability compensation if they lose their jobs due to the injuries sustained. It goes on for a while until one can resume regular duties.

The pay for time not worked programs are benefits programs provided by business organizations to their employees for the time they are off duty. Under federal laws, employers may be required to pay their employees for the time they are not working (Find Law Teams, 2018). An employee who works for less than twenty-four hours in a shift must be compensated for the entire shift even if part of the time is spent sleeping. However, the most common time offs are sick leaves, funeral leaves, maternity leaves, and unemployment insurance, in case a person loses employment. Noteworthy, unemployment insurance is provided to employees if they lose their employment through a fault that is not theirs.

The similarity between the two concepts is that both of them provide employees with a safety net in case of financial difficulties that may result from the inability to work. As such, they work to ensure that employees do not run out of financial resources if they have not worked. Conversely, income protection programs differ from pay for time not worked because it covers incapacitation resulting from injures sustained in the line of duty. Pay for time not worked covers employees for the time they are away fro such reasons as maternity, funeral, or sicknesses. Both programs are mandatory because they are covered by federal and state laws to ensure that employees are not disadvantaged.

Other Benefits

Several employment programs are classified as other benefits. As such, one could recommend such programs as sabbatical leaves, tuition reimbursement, flex time, and free housing for interns to form part of the benefits packages. Sabbatical programs are offered by several business organizations as a means of attaining a competitive advantage. Sabbatical leaves give employees a break from their duties to pursue personal interests (Gourani, 2020). Sabbatical leaves give employees time to recharge. Elsewhere, tuition reimbursement programs are offered to employees who wish to improve their skills through advanced training. Under this program, the employee pays college fees upfront, and the employer pays back part or full amount of the course once the employee completes the training.

Flextime is essential to an organization because of its positive contributions. It is designed to allow workers to choose when to start and end their work schedules. In other words, it moves away from the conventional Monday to Friday to fit the schedules of workers by allowing them to determine when to start their workweek, as long as they follow the weekly or monthly hours set by the employer. The central concept behind this system is to offer independence and flexibility to workers when deciding on their work schedules. Other companies offer free accommodation for interns. Housing is a challenge that cannot be ignored, and most interns find jobs in places they cannot afford to pay rent or commute daily. Therefore, providing housing to interns ensures that accommodation is not a limiting factor.

Employee Benefit Packages

The Fair Labor Standard Act covers most American companies and designates all workers as either exempt or non-exempt. The two workplace classifications come under simple employment laws. The laws regulating exempt and non-exempt employees are, however, applied differently. Understanding the variations between the two forms of compensation is, therefore, crucial in deciding which of them is more advantageous. It is necessary to remember that exempt workers are paid for the job they do when looking at exempt compensation and not the time taken to perform the task assigned to them. Exempt workers are compensated with salaries and not hourly wages.

Employee Benefits Package Template for Non-Exempt Supervisor

The workplace compensation package provides medical cover as it is a fixed payment paid by employers regardless of whether they get sick. Social security has not been left out as it cushions employees when they are seriously injured or suffers permanent disability while at work or when he reaches retirement age. Elsewhere, reimbursement for tuition constitutes the employee benefits package to allow workers to advance their careers, but in specific institutions of higher learning. Sick leave has been considered because employees may become ill at one time and exhaust their financial resources, thus, hindering their ability to continue with treatment.

Conclusion

In brief, each business organization's human resources department must strive to provide benefits to its workers as they form a critical structure that underpins their ability to develop and prosper. The human resource departments of every business organization must consider several variables before deciding what employee benefits to provide. Such variables include the type of benefits and the level of compensation. The human resource must also consider other benefits such as sabbatical leaves, tuition reimbursement, free accommodation, and flex time. Companies need to recognize that well-structured benefits boost engagement and promote loyalty to the organization.

References

Find Law Teams. (2018). Getting paid for not working. Find Law. https://employment.findlaw.com/wages-and-benefits/getting-paid-for-not-working.html

Gourani, S. (2020). Why employees should embrace sabbatical leave programs. Forbes. https://www.forbes.com/sites/soulaimagourani/2020/01/24/why-employers-should-embrace-sabbatical-leave-programs/#6198d8da7c05

Hagel, J., & White, S. (2016). Five factors to consider when designing benefits plans. Financial Management. https://www.fm-magazine.com/news/2016/apr/designing-benefits-plans-201614223.html

Klonoski, R. (2016). Defining employee benefits: A managerial perspective. Research Gate. https://www.researchgate.net/publication/301622145_Defining_Employee_Benefits_A_Managerial_Perspective

New York Department of Civil Service. (2017). Income protection plan benefits 2017. New York State. https://www.cs.ny.gov/employee-benefits/hba/shared/mclife/MC_Life_2017.pdf