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Thursday, July 29, 2010

Benefits Which Fit Your Bill!

By : Challa S.S.J Ram Phani

Employees are always attracted with benefits. These benefits are very creative offered by companies and vary from company to company. Jack got attractive offer in another company and thinking of leaving the present organization. His friends advised him to stay back as the benefits are more and the future of the Company is promising. He analyzed and stayed back with the present company.

Calculating benefits: To complete projects in time, many organizations offer attractive benefits to employees to motivate them. Many companies offer benefits apart from cash rewards. Company products are sold to the employees with heavy discount. Transportation, Medical insurance, telephone bills, food coupons are such benefits offered to employees to retain and motivate them to perform. Some companies offer free movie tickets and also picnics to entertain employees. These are indirect benefits and not included in your salary. If you wish to leave a company, you have to think of all these benefits whether you receive the same kind of benefits in another company or lose.

Cash rewards: It was revealed in a study that companies offering cash rewards is a good decision, which helps retain employees. CEOs of 1400 companies said that cash rewards will stop employees from changing companies frequently. These cash rewards are offered after completing a project successfully and during festivals to retain employees. This will help employees to streamline their financial planning. The study revealed that employees like cash rewards. This will motivate them to perform better. Employees are attracted to other companies where these kinds of benefits are not offered.

Offering lunch: Some companies offer lunch to inculcate cordial relations among the employees. Even small companies are following this policy. To complete projects in time, employees have to spend extra hours in the office. Companies offer breakfast to meals to such employees to work extra hours. This will help to know the opinions of employees. This will inculcate team spirit and harmonious relations among employees.

Welcome with cash rewards: Employees welcomed with cash rewards along with salary work with enthusiasm. Some companies follow this policy. Instead of keeping employees wait for years for bonus, companies are offering bonus immediately while joining. This will help employees give their best. Sometimes, companies share profits also among the employees.

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