Compensation Benefit Essay

1876 Words8 Pages
Are Employee Benefits A Motivating Factor The Merriam Webster defines motivation the act or process of giving someone a reason for something. The condition of being eager to act or work. A force or influence that causes someone to do something.job simply because that is expected. (www.merriam-webster.com). This paper will explain if employees are motivated by benefits employers offer. Benefits, according to Milkovich consist of the total compensation package which includes but not limited to life insurance, pension, workers’ compensation, vacation, 401k savings, and others not listed. These benefits use to be called fringe benefits. The dictionary Webster's defines motivation as something inside people that drives them to action. This motivation varies in different people. We can say that motivation is the willingness to work at a certain level of effort. Motivation emerges, in current theories, out of needs, values, goals, intentions, and expectation. Because motivation comes from within, managers need to cultivate and direct the motivation that their employees already have. Benefits are a form of compensation paid by employers to employees over and above the amount of pay specified as a base salary or hourly rate of pay. Employees are one of the most valuable assets to any organization and managing them can be one of the most important, yet challenging tasks required of any business owner. Employee benefits are something that can’t be overstated. The majority of employees value their benefits just as much as they do their salaries. Research reported in the journal, Personnel Psychology found that ninety percent of employees said their employee benefits meant as much as their salary. (The Best Benefit from Your Benefits) According to a survey from Glassdoor, 76% of surveyed employees say medical coverage is the most important benefit followed by time-off

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