Discuss the reasons that employers provide their employees benefits (health insurance, life insurance, pension benefits) in...

Discuss the reasons that employers provide their employees benefits (health insurance, life insurance, pension benefits) in addition to monetary compensation.

Expert Solution

Employee is an asset for an employer. If employee faces an health issue or any family members health issue then the productivity of that employee would be decreased. So, they give medical insurance.

The family member should of an employee is dependent on him. In case of death of the employee they will be in uncertainty. Life insurance gives mental as well financial coverage for the family of the employee and so for the employee himself.

There may be some uncertainty in employee's mind that what will be his future after retirement. Pension benefits is given to remove the uncertainty. Without this uncertainty employee can work without pressure and his motivation would higher.

There are some companies which gives bonus or ESOP to motivate employee and also to reduce attrition rate. When an employee feels he is protected under the company his motivation will be higher and attrition rate will also be lower.

So, that's why company gives such benefits.

jeff jeffy answered 1 year ago

For what reasons would employees demand and employers grant fringe benefits such as insurance, pension, and...

For what reasons would employees demand and employers grant fringe benefits such as insurance, pension, and health programs instead of simply increasing wage rates?

Why do employers provide health insurance coverage to their employees?

The U.S. government subsidizes the private provision of health insurance through employers. Benefits paid to employees...

The U.S. government subsidizes the private provision of health insurance through employers. Benefits paid to employees are deductible as expenses by firms, but not recognized as taxable income by employees. Consider two employees, Ann and Bob, who work for two different employers. Ann earns $30,000, pays 15% in taxes, and pays $12,000 in premiums for health insurance offered by her employer. Bob earns $40,000, pays 25% in taxes, and has $12,000 worth of medical bills which he has to pay...

Are public employers legally obligated to provide health insurance to employees? Please provide page you found...

Are public employers legally obligated to provide health insurance to employees? Please provide page you found your answer on. BOOK - Human Resource Management in Public Service ISBN: 1506382339

2. Employers are required by law to provide specific benefits to employees. What laws mandate benefits...

2. Employers are required by law to provide specific benefits to employees. What laws mandate benefits to employees, and what are the provisions of those laws?

All of the following are reasons why employers provide employer sponsored healthcare plans to their employees...

All of the following are reasons why employers provide employer sponsored healthcare plans to their employees EXCEPT: a. To take advantage of tax write-offs that allow the employee to deduct the cost of such plans from their tax liabilities b. To compete for talented workers by offering attractive employee benefit plans c. To provide workers healthcare at a price that is lower than what the employee would pay for an individual health insurance policy d. To make healthcare available to...

Farmer Fred owns a dairy farm with 22 employees. The state passed a law which requires all employers with more than 15 employees to provide health insurance for the employees.

Farmer Fred owns a dairy farm with 22 employees. The state passed a law which requires all employers with more than 15 employees to provide health insurance for the employees. To avoid this requirement, Fred sets up two corporations, each with 11 employees. Fred is the controlling shareholder and Chief Executive Officer of each corporation, and freely transfers money between the two corporations on an “as needed” basis. The state sues Fred personally for failing to comply with the law...

If all employees are offered health insurance and retirement benefits, but then get to select the...

If all employees are offered health insurance and retirement benefits, but then get to select the rest of their benefits package, then they're being offered what type of cafeteria plan? A) Modular B)Mix-and-match C) Core-plus-option D) Flexible spending

How an effective management provide a better business environment that benefits all parties, including employees, employers,...

How an effective management provide a better business environment that benefits all parties, including employees, employers, and customers? How does this compare to situations in which self-employed individuals conduct business on their own without management policies?

List six types of health-related insurance benefits typically available to employees.

Question