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- What are “must-have” benefits (excluding those legally required)
- From employee perspective, why?
- From leadership/ organization perspective, why?
- How do these align? How do they differ? What are biggest implications to create alignment?
- The book defines 3 discretionary benefits (Protection programs, paid time off and services) each with their own subsets. Companies already have compulsory benefits, so from an employees perspective these would attract the best talent to that company. A company with better discretionary benefits will also increase retention among employees who may stay at a company for specific benefits that are more attractive to them. From a leadership and organizational perspective, these benefits may increase overall output. For example some companies offer tuition assistance, which would increase the value of their employees and instill a sense of loyalty among employees. It is important to align discretionary benefits that not only attract the best talent but also align with the companies mission. Another example is a top of the line work environment. Having facilities that create a good work environment to maximize output should be at the leaderships forefront. It would also attract top talent. Exxon Mobil’s campus comes to mind for me, its campus in Houston TX is one of the nicest buildings in the world. It looks like an absolute pleasure to work there. This aligns with employees and the leaderships perspective.