Employee Benefits Program

https://eae.com.au/ |All rights reserved 1

Employee benefits programs are now widely spread around the globe, especially in the highly

developed countries. Along with traditional medical insurance or paid vocation, such programs may

offer a range of additional benefits to reward employees for their excellent performance, efficiency,

and contribution to business success. Of course, such employee benefits programs require additional

investments.

As we can see from the official statistics, provided by the EBR Institute, the share of total benefits in

the amount of total compensation has been growing gradually: from about 27-28% in year 1998 to

30.2% in 2009. In other words, employers do invest money into added benefits for employees, and

here the question arises: are those investments worthwhile and what do employers receive in return

to spending their money for additional rewards and motivation of employees?

One of the most obvious and straight-forward advantages of employee benefits plans for employers

is motivation of personnel. It’s not a secret knowledge that happy and satisfied workers

demonstrate better results in work, are more interested in self-improvement and perform their

duties better. On the long run such scenario leads to better business efficiency, which is further

reflected in monthly and yearly income rates and financial results. Thus, support and motivation of

personnel is the first reason to invest into employee benefits program.

Another thing is head hunting. The market today is flooded with job seekers of all grades, and the

task of the HR department is not only to find the best people available, but also to lure them take a

position. One of the best ways to do this is to offer a competitive additional employee benefits plan.

This strategy is currently working everywhere – take a look at any source of employment

opportunities and everywhere you’ll see the list of added benefits offered along with salary and

requirements. Attracting the most prospective professionals on the market is another reason, which

makes investment into employee rewards program worthwhile.

Employee retention is another objective of implementing employee benefits plans. Employers find

necessary people, train and educate them, and, definitely, do not want to lose them, if those people

work great and contribute to the business success. Again, one of the effective ways to keep

necessary people onboard instead of letting them join a competitive team is to invest into extra

employee benefits.

Finally, investments into employee benefits programs are worthwhile because they help improve

working environment, maintain proper communication between an employer and an employee,

state clear occupational standards and work targets, and motivate employees comply with company

expectations.

Looking for an employee rewards program in Australia?

Try these websites:

https://eae.com.au/

http://presidentialcard.com.au/