Question

A benefits package involves two issues: (1) what benefits must be offered by law

and (2) what benefits and services will make the organization attractive to applicants and current workers.

talk about it.

Answer 1

A benefit package refers to the compensation package we offer to the employee on the per annum basis which includes not only the monetary incentives like the salary or the wages but also a bundle of other benefits which have different uses for the organisation and for the employee as well.

1. It is true that the benefit package includes the benefits which are subsided by the law and is legal to provide to all the employees for their performance and the productivity they offer for the organisation to grow. These include the monetory incentives like the salary or the wages and the health facilities provided to the employees for their protection under the Employee benefit acts and laws.

2. Apart from the above mentioned legal duties, an employee is also entitled to get some extra benefits from the organisation which is not compulsory and is offered by the organisation for their promotion and as incentives to not only make the existing employee work better but also to attract the prospectus future employees to join the organisation seeing such a good package of incentive being offered to employees. Such package includes the health benefits, family benefits, allowances, bonuses, holiday allowances, training and development, organisation culture and many more which depends upon different organisation how they innovate their strategy to retain and attract more talented employees.