Benefit policies
... Growth of benefits policies b. ... Benefit plan objectives b. ... BMW (Orlando) benefit policy i. ... Air Canada benefit policy i. ... McDonalds benefit policy i. ... A well formed benefit policy can not only help personnel but can also help an organization achieve its strategic goals with a lot more ease. ... Again to expand on this there are different levels of benefits, some of which are mutual, and would benefit anyone, yet again there are some which would only suit certain situations. An example of this is that a company car could be given to any employee provided they drive, but a child care benefit would not suit a person without any children. ... The reason for this perspective is to enforce the point, that if benefit programs are not coordinated with a company’s strategic business objectives, there could be friction caused not only for the business, but for employees and future employees. ... In order for a company to ensure that it’s benefit policy is in unison with it’s strategic plan it needs to allocate the amount of resources that will be used on the compensations, the proportion of compensations, benefits of the employees, needs of employees, purpose of benefits, which employees to give benefits to, what benefits are going to be chosen, and finally the cost of all these respective benefits. Once this research is complete, if followed accurately, this will permit a company to introduce a healthy and effective benefit policy, which will not only lead to employee satisfaction, and motivation but also overall company success. Before analyzing a company’s benefit policy it is helpful to be acquainted with the common types of employee benefits. ... Yet it is also an attractive benefit for many employers. ... This is usually a benefit which is never realized by the employee but can be extremely costly to an organization. ... An example would be that if a paralyzing accident occurred in the workplace the employee would be covered, wither with a specific sum, or an amount equal to the retirement benefit of the injured employee. Another high ranking and common part of benefit policies is childcare. ... For an employee to safely know that their child is safe let’s them concentrate more on their work, which is a key non-monetary effective of benefit policies. ... Once considered a big company perk, dental insurance has established itself as a must-have benefit. ... This is sometimes ignored as a benefit, but in fact is quite vital. ... There are thousands more that can be added to a benefit policy depending on what the structure of the organization is. ... Attached is every benefit system currently in place in the state of California. ... Now that a brief description on benefit policies has been made, and all the necessary terms and definitions have been listen, it is easier to look at three different companies and their relevant benefit policies. ... These policies will first be described in detail, followed by a list of the pros and cons of each benefit policy, and then concluded with a comparison. ... BMW according to the benefit scheme listed on the internet is an equal opportunity employer and drug free workforce environment. They consider there employees as one of their greatest assets, and this can also be seen not only by the benefit summary, but also by the award programs, and interaction with the employees that they list on their website, such as awards, and trainee programs. ... Regarding health and protection benefits, fulltime employees are provided with a $25000 basic life, accidental death and dismemberment insurance Fulltime employees are also provided a long term disability benefit of 60% and up to $5000 a month. ... This package also has varieties allowing the benefit to be customized to the employees needs. ... According to the benefit policy online vacations include sabbatical programs, short Fridays, leave of absence, alternative work approach, adoption assistance, child care discount, educational assistance, matching gifts program, employee assistance programs, auto and home insurance programs, and Disney discounts. (REFER TO APENDIX C) To compare all these again, we can refer to the original five topics that the benefit policies were based on.