A benefit program can serve the objectives of a company in several ways. The key for that to happen is for the company to decide on its objectives and then develop programs, including benefit programs that will lead to those goals. At Purulent we help companies design corporate benefits programs basis objectives of Leadership, Competitiveness, Employee security, and Equality of benefit options.
It is essential that benefits selection is based upon the objective priorities chosen by the employer. Starting a new service or benefit deserves at the minimum a study of costs, employee preferences, and possible fit of the new service into existing company programs. Companies should not introduce a new product without significant prior market research.
At Purplent, We have expertise in developing followig benefits porgrames :
Mandated benefits. Legislatively required benefits--unemployment compensation, social security, and workers’ compensation--serve several functions in themselves.
Voluntary benefits. Too often a company adds a benefit to the company program as the result of a manager’s reading a magazine article or hearing of a new benefit being offered in the industry. Of course, this is not the best way to modify any benefits program. To determine what benefits are typically included in a benefits program it is helpful to begin with the types of voluntary programs which include:
- Insurances - Types of hazard insurances include pensions, life insurance, termination pay, health insurance, accident and sickness and disability.
- Paid leaves - Payment for time not worked includes holidays, vacations, sick leave and rest periods.
- Income supplement - Supplemental income programs include profit sharing, savings plans, credit unions, tuition refunds and discount purchases.
Common services and programs. Other typical policies and practices that provide a service benefit to the employee include counselling, vanpooling, child care services, relocation reimbursement, parking and cafeteria facilities, training and social and recreation programs.
In order to get the most employee satisfaction and company return on the benefit dollar, the company must be in tune with the changes in benefit opportunities and the requirements of employees and be able to adjust to those changes. Trends in restructuring or reengineering welfare plans should be explored.
Contact us and we can help you construct benefits programme best suited to your corporate goals