Employers can use the health reimbursement arrangement (HRA), a plan that covers employee's medical expenses. HRA is beneficial because it offers employers the upper hand in determining the funds they put into the program and allows workers to request the money incurred during treatment. The benefit is crucial in attraction and retention as workers can pay expenses qualified within the plan. These include prescription drugs, accommodation fees, and care from psychologists. According to Stalmašeková (2017), employers can utilize these HRAs to purchase their own extensive individual medical coverage with pretax dollars.
Moreover, a company can utilize the leave benefits that allow employees to keep their earnings on vacations, bereavement, injury on duty, and paid time off (PTO). Workers require a conducive environment, and in case of holidays, emergencies such as loss of a loved one, and illnesses, compensation make workers see the organization cares beyond profitability. Klonoski (2016) asserts that leave benefits build on a positive perception of the value demonstrated to be part of the employer. Hence, employee satisfaction and motivation are ensured, which allow them to stick by an entity that caters to their needs. For example, a working mother would gladly join or stay in an organization willing to pay her in case of a day off.
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Also, gym membership reimbursement provides employees with an opportunity to keep fit at the expense of an entity. After working long hours, employees need to keep their physical and mental health aligned with the demands of work and life. Since workers rely on morale, satisfaction, and motivation, gym reimbursements attract various employees who appreciate the efforts of employers and ensure value to the company. Retention also thrives because workers are rewarded for participating in the reimbursement program. Indeed, when employees are fit, their health improves, which reduces medical costs.
References
Klonoski, R. (2016). Defining Employee Benefits: A Managerial Perspective. International Journal of Human Resource Studies , 6 (2).
Stalmašeková, N., Genzorová, T., & Čorejová, T. (2017, September). Employee benefits as one of factors of work motivation. In CBU International Conference Proceedings (Vol. 5, pp. 448-452).
