Read the file directions then read this.
For backup information my field of study is business management. I will provide you with my project 1 submission, which you will be using for this essay as well.
Different employee benefits focus on maintaining the quality of life of the employees. With the increased level of financial security and a comfortable lifestyle, employees focus more on improving their productivity. Employee benefits may include retirement or pension plans, medical covers, education allowances, and paid time off. The focus of these benefits is enhancing employee productivity. The compensation plans also aim to retain and motivate employees. Most of these employee benefits are in the form of remuneration, incentives, and other tangible rewards. To have a highly productive workforce, a company has to put forward strategic benefits and compensation. With employers focused on optimizing the business operational costs to increase their profit margin, the understanding of the relationship between incentive and productivity needs to be enhanced through research. Different studies have been done to explain how benefits influences business and whether they have any positive implications. Employee benefits can also be linked to enhanced competency, and therefore, the importance of benefits to employees cannot be underappreciated.
Methodology
To further my understanding of employee benefits, I have gathered multiple primary and secondary sources of information through the use of business databases and library sources to collect the necessary information. Seeing, that the step is key in the investigative study, conducting multiple interviews with employees from different organizations remains an instrumental component of the research. This will be done from conclusions after perusal of different articles, journals, and answered questionnaires would be a key source of information, which will offer the necessary support of the hypothesis that employee benefits significantly affect productivity. In addition, I will collect data on how researchers argue that benefits improve employees’ quality of life, which provides the foundation for better performance in the workplace (Darma 122). Besides, I will evaluate how several studies have attempted to link productivity to the input-output relationship. With the relationship, one understands what happens when inputs such as employee benefits are increased and their impact on employee productivity (Diamantidis 412). The input-output relationship is, therefore, also an important part of the whole study.
During the field study, various sets of data will be analyzed from articles by other researchers, which will prove to be essential in understanding how employee benefits enhance productivity. The study will also investigate how research show organizations can improve operational output through employing socially acceptable health policies that enhance employee wellness and lifestyles (Gubler 4970). The various strategies and policies, which businesses design for their workers end up positively affecting their productivity and the company’s success. Also, it will explain how both the employer and management should show care about their employees and offer the much-needed benefits for their motivation and productivity (Gubler 4987). The field study will also find out their claim is supported by the research outcomes, where most of the respondents attributed their motivation to the different morale-boosting programs their management supported. Thus, it will establish the relationship of these programs and how they resulted in improved and better employee productivity.
Employee motivation affects employee productivity. Therefore, research over online surveys will be done on employees from higher education institutions to show if employees in institutions with more appealing and friendly benefits give higher standards of services (Nguyen 650). The surveys could show the high level of productivity is inherent of improved motivation, and relate data as reported by many employees in these institutions. It is important to note that information through the use of surveys over the internet is the most appropriate, given that the research mainly focused on collecting raw data and responses in as quick a manner as possible. These forms of studies can help managers and institution leaders develop strategies that boost employee motivation to achieve better results and productivity (Diamantidis 413). As such, it is important to remain up to speed with such content.
Interviews are essentially carried out in qualitative studies and are mainly utilized when researchers ask one or multiple respondents open-ended questions and note down their answers. Structured interviews can also be applicable within, among others, the business sector, business management, and organizational theory in a number of ways. Interviews are categorized based on the goals. The categories include information collecting interviews and hypotheses weighing interviews (Diamantidis 322). In the evaluation of the impacts of employee benefits on productivity, the research done focused on interviewing employees from various organizations using one-on-one interviews. The use of questionnaires was widely used in the online platform, being that the current restrictions did not allow for in-person interaction with respondents. Questionnaires were formulated and designed to collect data as regards the specific benefits employees get in their organizations. Through a pragmatic approach, the respondents indicated the impact of the benefits on their commitment and productivity to the company.
The interview questions were aimed at collecting specific information concerning a certain critical aspect of benefits. The specific strategies that organizations implement ensure their employees benefit fully from their commitment to the goals of the organization (Nguyen 656). Human resource managers were the most involved in these interviews. Respondents provided information concerning the compensation strategies for employees. They described many benefits, including medical, life, dental, disability, and unemployment insurances. Various companies also highlighted other crucial incentives like action pay, holiday pay, and maternity leaves. One company-Brain Solutions, whose employees were interviewed on their benefits and compensation strategies, noted that they offer both tangible and intangible benefits to their employees. Intangible benefits included things like bonuses and the possibility of promotion (Diamantidis 312). These benefits were aimed at improving employee productivity and proved viable means to do so. However, some scenarios tend to suggest that the employee benefits given to employees in a company may, in one way or the other, affect the way employees feel. Some employees may feel left out when bosses and other seniors reward their colleagues, and they are left out. The disparity may create a situation that affects the productivity of employees. An employer who offers more attractive benefit packages has the upper hand when it comes to quality retention and improvement of employee productivity. The improved productivity in different companies and organizations has been attributed to competitive compensation strategies that motivate their employees.
The issue of employee benefits entails the use of different strategies. Improving the productivity of companies using employee benefits and compensation packages, takes the implementation of various strategies by businesses and associated leaders (Carnevale 188). It is clear that everyone expects some kind of reward, and employee benefits are one of them. The questionnaires and interviews used in the field-collected data related to how employees benefit in companies and how this motivates them to continue committing to the company. Also, the use of data and evidence fetched from journals and other reviewed sources helped evaluate and outline different models used to motivate employees.
Sustaining viable employee relationships in an organization is the basis for any company’s success- a crucial role played by the human resource departments. Through the study done, one thing that is clear and common in most companies is the use of lucrative benefits that come with each job and position. In addition, attaching benefits to tasks and duties, whether short- termly or long-termly, helps improve productivity. Employee benefits include the various non-wage packages offered to employees. A great example is a regular boost to standard salaries. The importance of doing so cannot be further emphasized since the human resource of an organization is a critical factor in determining organizational success (Tomczak 269). Through packages like Christmas gifts, performance bonuses, education allowances, leave allowances, and others, employees become more attuned to the idea that working even harder is mainly beneficial to them.
All these packages are objectively given out to influence and persuade employees towards task completion and deadline attainment. To achieve the various goals, companies need to develop strategies to make employees interested and happy while carrying out their duties (Nguyen 660). Suppose employees feel that, the benefits they are getting from the firm are insufficient. In that case, they tend to put little effort into work or decide to join other companies that offer better compensation packages. The compensation plans also aim to retain employees. Most of these benefits come in the form of adequate compensation for regular duties, incentives, and other tangible rewards that may be offered to the employees. To have a highly productive workforce, a company has to put forward competent benefits and compensation strategies.
In addition, benefits packages need to be aligned to employee needs. Research shows that organizations that do not offer employee benefits to their workforce based on employee personality and nature of their needs end up wasting more resources (Hanaysha 28). Employees have proved to be highly motivated by those benefits that target their greatest wants and luxuries. In the current era, benefits have become a crucial part of the modern workforce. Large and successful organizations have implemented systems that offer fair and competitive compensation models that directly address the needs of employees. A great example is the use of gym spaces and enrolment into luxurious programs. It also maintains a strong relationship between employees and the management (Hanaysha 24). With warm relationships, employees tend to be productive since they can interact freely with their bosses. Also, bosses become encouraged and, therefore, delegate duties as expected. It also pushes them to occasionally give gifts and bonuses to their employees in different departments.
However, during the field studies done, it was noted that benefits might also affect the productivity of employees negatively. Though the impact is quite minute, they may in one way affect the motivation of employees and, by extension, their outputs. Employees tend to strain their capabilities, being that some work for lengthy hours, with the hope of getting the desired benefits (Carnevale 188). These long hours end up reducing sleep duration. The impact of sleep deprivation comes in the form of fatigue and increased stress. Research shows that long working hours are related to stress (Hanaysha 27). Consistency may also be an issue if employees have been performing at the top level for some time. Therefore, there is a need for human resource management to alter the way in which benefits are offered and implement new ways that do not result in workers getting exhausted. Employee benefits need strategic implementation so as not to exploit the employees but rather improve their lifestyles and working environment (Diamantidis 356). Having this crucial information and relating the learned knowledge in my major of business management, I can recommend that there remain many areas that need to be researched.
Conclusion
Employee benefits have a huge impact on the way employees perceive their workplaces. Medical allowances and leave allowances for employees are the main benefits employers tend to give their employees from the set of data reviewed. Therefore, achieving a highly productive workforce calls for implementing the various mentioned strategies. Competitive compensation packages are also crucial in enhancing employee productivity and retaining them. However, these benefits need to be offered in a calculated manner so that employees do not harm themselves in pursuing the same. It will also guard against unprecedented exploitations by employers.