MGT 462 Lecture Notes - Lecture 9: Total Rewards, Disability Insurance, Job Security
Document Summary
Part of the total compensation provided to employees in whole or in part by employer payments. During the 30s-40s controlled wages increases lead to increase in benefits. Employers wanted to improve conditions and show care for employee welfare. Survey of employees ranking top 5 rewards contributing to employee satisfaction: Like compensation, as long as an organization"s benefits are reasonably competitive, not a primary reason for attracting or retaining talent. Probationary periods, dependents, retirees, survivors, workers with disabilities, and even layoffs over challenges. How much choice should employees have? l ki. E il t l f b fit b t th f t h i i th b fit th i. Employees are not necessarily looking for more benefits but rather for greater choice in the benefits they receive. Perceived value of benefits rises when employers introduce choice. Better benefit planning, design and administration offer opportunity to improve benefit effectiveness.
