Compensation and benefits
- During the economic downturn that started in 2008, many companies cut employee benefits and compensation as a measure in preventing layoffs. As companies regain their financial stamina, assess which benefits and compensation should be the first to be returned to employees, and how they should be reinstated. Support your response with evidence or examples.
- From the e-Activity, assess how a company can create a benefits package that appeals to a diverse workforce. Make at least two recommendations for benefits that appeal to all three generations of workers ─ Generation X, Generation Y, and Millennials.
In the eyes of an employees, benefits form part of the earnings package. They do not take them as benefits but rather as part of their total remuneration. Thus cutting down benefits amount to salary or wage cuts. I believe that the most important benefit to date is any benefit related to heath. For instance, we have health insurance……………