The practice I will choose to evaluate will be employee benefits are
minimal, there's little paid time off and limited sick time. One of the
main general factors that a business or organization may not offer
benefits to their employees is because of the cost. In order for a
company to offer paid time off, sick days and great benefits, the
company has to be financially stable. However, the cost of health
insurance has steadily risen, making it less and less affordable to
employers, and making financial planning difficult from year to year
although the small business provisions of the Affordable Care
Act
have altered this balance by incentivizing employer-funded
benefits (FindLaw, 2018). Employers are not required by law to offer
these benefits but its a good way to retain employees, cut down
employee turn over and also to attract potential workers.
The benefits both the employees and business organization can
astronomical. One of the main facts would be to retain employees
with needed and top talents which will lower employee turnover.
This will also attract other potential workers to want to work for the
company. Employee benefits provide your workforce with resources
to remain healthy and productive, serving as a win-win for both your
organization and employees (PeopleKeep, 2021). There are
companies that also offer incentives for healthy living which is huge.
Some offer non-tobacco use for a certain amount to be deducted
from the monthly health insurance portion that's paid by the
employee. Another example of a great benefit is offering monetary
incentives for every employee to get a full annual physical. This not
only help keep workers healthy and to spot any potential illness
which can lead to major issues, but it also helps keep insurance costs
down for this illnesses if caught too late. However, the company
would still need to be in a great financial standing in order to offer
this type of benefit.
Pro and cons: Offering employee benefits. Findlaw. (2018, January 17).
Retrieved January 16, 2022,
from https://www.findlaw.com/smallbusiness/employment-law-and-
human-resources/pro-and-cons-offering-employee-benefits.html
Smith, G. (2021, March 29). Five advantages of employee benefits for
small businesses. PeopleKeep. Retrieved January 16, 2022,
from https://www.peoplekeep.com/blog/five-advantages-of-
employee-benefits-for-small-businesses
