Running a successful business requires several components that are inclusive of ensuring that employees remain happy. Their happiness is likely to affect their productivity, which means that employers should be in a position of providing their employees with incentives that can assist in the maximization of their productivity. While there are several ways through which this could be accomplished, one of the most fundamental avenues that could be exploited involves offering employees benefits that supersede the applicable legal requirements. In this light, one of the ways through which an organization can prevent the exiting of their valued employees would be through offering them a suitable employee benefits package. Chief among the ways through which employers can succeed is the impact that they have on the lives of their employees. However, the effect should go beyond providing the employees with tangible business rewards such as pay increases or bonuses, but should also include rewarding intangible benefits that are likely to shape the lives of the workers in a positive manner (Földes, 2016).
According to Földes (2016), penny wise organizational philosophies are likely to strangle a particular business, especially about the chances that might be captured for the realization of the long-term opportunities of the particular organization. In this light, it is essential for the organization to take note of the existing benefits that are likely to retain good employees. This consideration factors in the need to offer employees the benefits that to ensure that they are more satisfied with their work since awarding them these benefits is one of the ways through which an organization can ensure its enhanced employee productivity.
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The Mandatory Benefits that an Organization should Provide to its Employees
The mandatory benefits that an employer gives employees are determined by law. These benefits are inclusive of health insurance coverage. However, most of these benefits apply to full time or permanent employees. They are inclusive of social security withholdings, premiums for unemployment, as well as their compensation that should relate to the type of work they do. Of the identified benefits, the payment of a particular worker is fundamental to ensuring compliance with legal provisions as well as for the protection of the particular worker within the workplace. In this light, when coming up with a benefits package for the employees in my local healthcare organization, it would be vital to consider the possibility of suffering an accident while performing their duties. This consideration calls for the need to put in place suitable worker compensation insurance, which should take care of the medical costs attached to an accident as well as their off time. The compensation should not only be restricted to taking care of possible accidents but also medical conditions that might be related to the workplace environment (Dangelico, 2015).
The other mandatory benefit that employees should receive is the awarding of the minimum wage, which should be in line with the dictates of medical personnel. Dictates of the federal minimum wage provisions demand that it is essential for states to increase the minimum wage of workers depending on the determinants of the borders. However, there is a possibility of modifying the changes depending on the applicable changes in federal law. In spite of the attached benefits, it is possible to determine that a strong foundation of healthcare businesses is dependent on the skill as well as the dedication of the employees. These provisions are essential for assisting in the realization of tangible benefits, most of which are likely to differentiate a particular business from the masses (Dangelico, 2015).
The other mandatory benefit that is likely to fit employees in a healthcare organization is the provision of a suitable health insurance plan. Most of the employers, especially the large firms, offer health insurance plans that meet the need of the employees. As Ginter, Duncan, and Swayne (2018) indicate, compared to other huge firms, healthcare facilities are likely to face significant barriers to the provision of healthcare coverage. The situation is primarily difficult for small firms since they have employment-based plans that demand payment from a considerable number of working families. The demands account for a significant number of expenses from the national healthcare spending, in spite of the role that employees play in the health insurance market. However, it should be vital to account for the worker demand in the healthcare industry since the employees, who are considered as the suppliers, affect the structural barriers to the supply side.
The other mandatory benefit relates to the fringe benefits and the perks that the healthcare employees receive. Even though some of the benefits are likely to vary depending on the industry and the type of business, perks could be considered as benefits of a kind. The reason for considering these benefits as such is a derivative of the idea that they are not monetary. In this case, such benefits are inclusive of paid vacations, the provision of company holidays, sick leaves, pensions, and gratuity, among other non-monetary benefits (Collini, Guidroz, & Perez, 2015). These considerations are likely to apply to individuals that work in healthcare organizations since it would be essential to provide the employees with non-monetary benefits to ensure that they remain committed and comfortable working in a healthcare facility. For instance, it would be essential to provide nurses with the identified benefits, given that they are most affected with burnouts, which is fundamentally a derivative of the employee turnover that characterizes the particular profession (Collini, Guidroz, & Perez, 2015).
Non-required Benefits
The non-required benefits are necessary for supporting the legally required employee benefits, most of which surpass the expected legal minimums of employee benefits. However, Lazaroiu (2015) indicates that such benefits are only applicable to organizations that have more than 50 employees who should be employed full-time within the particular organizations. Even though some of the employees might be employed part-time, their employment status should match that of the full-time employees, which means that they should be in a position of accessing primary healthcare insurance (Declercq et al ., 2014). Moreover, other non-required benefits are inclusive of supplemental insurance such as retirement savings plans, wellness programs as well as life insurance. In addition to training benefits, these benefits are essential for ensuring that the healthcare workers improve their productivity in the particular environment. In this regard, regardless of whether the benefits are not required by law, there are at the discretion of employers in the healthcare industries. The implementation of these benefits would enhance the competitiveness of the healthcare companies since they are dictated by the norms that exist in the particular industries.
On the hand, a healthcare organization can offer voluntary benefits by making it possible for the employees to choose to buy them in addition to the benefits they receive from their employment package. The voluntary benefits are usually characterized by flexible payment options, which are selected based on a budget of a particular employee. However, the voluntary benefits might either be fully funded or partly funded by the employer, but they should fulfill several provisions. These provisions are inclusive of the idea that the voluntary employees should be in a position of ensuring the well-being of the employees, at the same time minimizing the attached health risks. However, the minimization should consider the attached costs, which should be reasonable. On the other hand, the voluntary benefits should also focus on the protection of the people’s income and assets, their security, and the products that cover the essential interests and needs of a particular individual (Declercq et al ., 2014).
To conclude, it would be essential to take note of the idea that healthcare facilities should not only provide their employees with benefits required by law. Instead, they should focus on providing other benefits that are necessary for ensuring that they retain employees, given that the healthcare industry is marred by high turnover rates (Collini, Guidroz, & Perez, 2015). On the other hand, it would be vital for healthcare facilities to provide their employees with voluntary benefits, which would assist in responding to the health premiums that individuals hold. Conversely, the benefits are likely to take care of the uncertainty regarding the impact of healthcare reforms, which is a derivative of the exploration of ways through which customer choices are likely to appeal to the employees, consequently preventing them from engaging in activities that are likely to compel them to quit their jobs.
References
Collini, S. A., Guidroz, A. M., & Perez, L. M. (2015). Turnover in health care: the mediating effects of employee engagement. Journal of nursing management , 23 (2), 169-178.
Dangelico, R. M. (2015). Improving firm environmental performance and reputation: the role of employee green teams. Business Strategy and the Environment , 24 (8), 735-749.
Declercq, E. R., Sakala, C., Corry, M. P., Applebaum, S., & Herrlich, A. (2014). Major Survey Findings of Listening to MothersSM III: New Mothers Speak Out: Report of National Surveys of Women’s Childbearing Experiences Conducted October–December 2012 and January–April 2013. The Journal of perinatal education , 23 (1), 17.
Földes, M. E. (2016). Health policy and health systems: a growing relevance for the EU in the context of the economic crisis. Journal of European Integration , 38 (3), 295-309.
Ginter, P. M., Duncan, J., & Swayne, L. E. (2018). The Strategic Management of Healthcare Organizations . John Wiley & Sons.
Lazaroiu, G. (2015). Employee motivation and job performance. Linguistic and Philosophical Investigations , 14 , 97.
