Question & Answer: (250 word minimum): Identify one or more additional issues that may influence employee…..

(250 word minimum):

Identify one or more additional issues that may influence employee benefits practices in the future.

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Expert Answer

Benefits offered by employers is a motivational factor for the employees to work for the organization. Employers decide on the type of benefits that they need to offer to the employees depending on multiple factors and their policies. Apart from the factors, below are few issues that influence employee benefits practices in the future –

1. Retention of employees – Considering employees as shareholders rather than mere stakeholders – Increased use of offering employee stock options to the employees, which they can reimburse across few years, is beneficious to both the firm and the employees. Firm can retain its employees who wish to claim the employee stock options over years and work towards the betterment of the firm. Employees get a stake in the firm and as the firm does well, the stock value increases thus increasing the benefit amount.

2. Increasing employee productivity – Employee productivity is an issue in the workplace. This can be increased by offering rewards and recognition in the workplace as well as the additional benefits like special bonuses based on consistent performance over years. This helps in rewarding the employees not only based on their work for the performance year but also tracks how consistent the employee is. Employee productivity increases when the employee feels he/she is recognized in the workplace.

3. Being competitive with the other firms – Employers attract skilled resources from other firms and retain experienced resources of the firm by showing differentiation in the benefits offered.

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