Unit V Assignment Benefits Booklet for Employees

Employee benefits are some of the non-wage compensation plans provided by organizations to their employees. The benefits may either be monetary or non-monetary. The benefits are targeted towards improving the livelihoods of employees by looking at their social welfare aspect. Financial benefits are paid by the employer to the employees in the form of additional cash to their wages and salaries, or employer-provided, where the employer provides the employees with the specific benefits. Some of the benefits provided by companies are granted under legal terms required by the constitution, which mandates them with the responsibility of improving the social welfare of employees. Other benefits are provided as a choice by the companies targeted at improving employee output and motivating their productivity.Employee BENEFITS

Employee BENEFITSThe Best Way to take care of staff.

To the Employer
a. Motivates employee productivity
Employee benefits promote employee productivity in the sense that the employees feel much loyal and obligated to accomplish their tasks since the company is going the extra mile to them. Some of the benefits are intended to reward employees for their productivity hence motivating employees to work harder to achieve such.
b. Deliverance of Corporate Social Responsibility
Companies' first social responsibilities are to their employees even before to the surrounding communities. Employee benefits are a significant step in the right direction towards promoting employee livelihoods and the achievement of the companies CSR.
c. Tax Advantages
Many benefits are not taxable. E.g., transport by company cars, meals at the workplace, and many other benefits. Companies can take advantage of such benefits increase them instead of employee salaries. By so doing, they reduce tax obligations while at the same time delivering towards promoting employee livelihoods.

Advantages of Employee Benefits
           To the Employee
a) Promotes employee livelihoods
Employee benefits play a significant role in the fostering of employee livelihoods. Health cover, housing allowances, and all types of bonuses are targeted at making the life of a worker more bearable to improve their productivity at work. The benefits make it easier for employees to live more comfortably without spending too much on their salaries.
b) Promotes equality amongst employees
Benefits support equality in the workforce in that all employees, regardless of their position, can have access to most of the social factors regarded in the benefits (Martocchio, 2011). The employees, irrespective of the posts, enjoy similar benefits; hence, equality is fostered.
c) Increases savings
Employee benefits promote savings amongst the employees in the sense that, employees do not have to spend their earnings on things such as housing or health services since they are already provided for by the company. Some benefits e.g., pension schemes, are already savings plans themselves.
b) Legally Required Benefits
Legally Required Benefits are benefits that are outlined under various provisions of the law. Various acts regarding workforce and other social factors describe some of the benefits t...