Hrm 300 - Sustaining Employee Performance

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“Employee benefits have grown in importance and variety over the past several decades. Employers realize that benefits attract qualified applicants, change whether candidates accept their employment offers or, once employed, determine if they stay with the organization. Benefits, therefore, are necessary components of a functioning compensation program. Nearly two-thirds of workers indicate that their benefits are an important reason as to why they stay with their current employer and are satisfied with their jobs. Benefits offer substantial financial advantages and security that would be difficult or prohibitively expensive for employees to acquire on their own.” (University of Phoenix, 2016).

According to ". Pay Scale Human Capital" (2017, “Food Service Directors who are practiced in their profession and carry more than ten years of experience make up just below two-thirds of Food Service Directors. Pay fluctuates from $31K to $74K per year but expected earnings average $51K annually. This group's compensation is mainly influenced by geographic location, followed by the particular employer and tenure. Health benefits are not enjoyed by everyone in this line of work, and roughly a fifth lack any coverage at all. A substantial majority reports medical benefits, and the larger part claims dental coverage. Women make up a slight majority of Food Service Directors (51 percent) survey respondents. Most workers in this position report high levels of job satisfaction.” Food Service Supervisors compensation for the work they do is slightly lower than the Director. However, the food service supervisor job responsibly is the director, and that's what makes transitioning into a food service manager position pay a little higher.

Conclusion

In closing, if an organization chooses to use an average benefit plan for employees, it could go a long way in retaining employees. Employees that are looking for another job will consider offers that come with benefit plans and may not necessary compare salaries. When a company offers a benefits package that is competitive they usually try to provide one that will keep the employee with the organization. Let's say a good job offers a salary of at least $6,000 more a year, without a good healthcare plan that salary does not go a long way, especially if you have to pay for your healthcare benefit. When an organization offers an employee an excellent benefits package, and it makes the small business owner more competitive, that makes securing quality employees, because a likely new employee considers the advantages and disadvantages of the companies' package. Keep in mind benefit packages can attract quality employees and a company that hires active employees makes the business successful.

References

Creating Sustainable Performance. (1970). Retrieved on January 15, 2017, from https://hbr.org/2012/01/creating-sustainable-performance

hrcouncil.com. (2016). Retrieved from http://hrcouncil.ca/hr-toolkit/keeping-people-performance-management.cfm

The University of Phoenix. (2016). Sustaining Employee Performance. Retrieved from the University of Phoenix, HRM website.

Pay Scale Human Capital. (2017). Retrieved from http://www.payscale.com/research/US/Job=Food_Service_Director/Salary

Reasons for Employee Benefits | Chron.com. (1970). Retrieved on January 17, 2017, from http://smallbusiness.chron.com/reasons-employee-benefits-14006.html