Perks and Benefits in The Organisations Essay Example | Topics and Well Written Essays - 1250 words

Perks and Benefits in The Organisations - Essay Example This makes it clear that the branch of fringe benefits has a lot of examples and types under its shelter making it easier for employers to pick the ones feasible for them to motivate their employees. A company offering a high level of fringe benefits is also regarded as one of the best employers and makes a market reputation of itself in the job market ending up in hiring the best of all applicants (Wisteret, 1959). The nature It is seen that everything which gives an appropriate level of advantages is said to have some draw backs of using it as well. Fringe benefits by nature are regarded as employee motivators and factors to approve your desirability as an employer in the market; it can be proved as well by looking at the top most employers of all time who are said to be giving out many fringe benefits to their employees apart from good salaries which has made them create their good image in the employment market (Newstrom, 1977). However, Fringe benefits, like everything else can cause a certain amount of damage to the organization as well if we look at them from the perspective of small employers. To them, fringe benefits can be very costly and can also cause problems in the capital management of the organization. Moreover, not distinguishing employers by their size, it is seen that many employers offering a good level of fringe benefits face trial in the court due to complains by some neglected or incapable employees who fail to show desired performance to become eligible of the benefits. This costs many companies a whole lot of money while also creating a bad image of them in the market. The range Fringe benefits today can include numerous things such as: housing arrangements provided by the employer, free or discounted medical facilities, day care services, insurance plans, retirement and provident fund packages, job security, year-end paid vacations, provision of cars and a lot more Specific packages Provident fund and pension packages Such packages are usually offered from the lower level of staff to the highest level but they tend to differ from one another on the seniority basis Housing facilities Housing packages are generally provided to senior employees in most companies but some might give their lower level employees a hostel type of accommodation as well. Accommodation just like other packages gets bigger and more comfortable as an employee climbs the ladder up in an organization Day care services Such packages are mostly offered to all company employees as this arrangement is offered at the premises of the company itself. New development in packages Day care services and job security packages are the new advancements Conclusion Fringe benefits are the oldest form of compensation apart from salary and wages and will continue to be offered by employers to motivate and retrench its workforce. MATERNITY BENEFITS Introduction Whether a company has given attention to maternity benefits or not an employee is still entitled to ma ternity benefits by law. Law, they differ from country to country but Women who are pregnant, have recently given birth or are caring for a new born are all entitled to maternity benefits, moreover, parents who have recently adopted a child also can apply for them in many countries.