Strategic Benefits Structure (Research Paper Sample)

Strategic Benefits Structure
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Institution of affiliation
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Strategic Benefits Structure
The increased global competition has led to organizations adopting to better methods of gaining a competitive advantage. One of this strategy is the retaining, developing and motivating the employees. It led to the development of the total rewards strategy which was introduced into organizations in the early year of 2000. The core factors for total rewards strategy include the employee recognition, employee compensation, employee work benefits, work life effectiveness and the employee talent development CITATION Mar101 \l 1033 (Marker, 2010). The paper shall focus on evaluating the total rewards strategy and its effectiveness in motivating the productivity of employees.
Gallegher and Co. (2014) carried out a survey on the utilization of employee benefits within the United States. In their survey, 82% of the employees preferred working in organizations that offers benefits such as the health coverage which covers not only themselves but rather their entire family. 22% of the respondents reported that they quitted their previous jobs due to issues associated with the benefits. In their conclusion, Gallegher concluded that employees are motivated to work and be retained in an organization if these benefits covers their entire family and into their retirement period. The more expanded the benefit is the more it attracts the employees motivating them to work harder and maintain themselves within the organization for quite a longer time CITATION Art14 \l 1033 (Arthur J. Gallegher & Co., 2014).
The implementation of the discretionary benefits and the retirement plans into the pay structure of the employee are among other key factors of motivating employees. Employees can work in an organization peacefully when they are assured of the wellbeing of their families and their future life when they are gone CITATION Mar101 \l 1033 (Marker, 2010). The discretionary benefits provides this ability to attain peace in the working environment. The employer can work without fear because they are assured of their health needs and better life in future once they retire. Hertzberg hygiene factors of motivation theory is in line with this benefits. According to Hertzberg employees are more motivated to work once they are assured and secured in within their work environment and their life CITATION kem07 \l 1033 (kemp-Arlt & Toupence, 2007). However Hertzberg is careful to note that these factors should be provided continuously. If they cannot be provided continuously it’s like charging a battery that later on will run low. Vrooms expectancy theory also aligns with the discretionary and retirements benefits. People are motivated to work hard by what they expect at the end CITATION Agg01 \l 1033 (Aggarwal, Aggarwal, & Simskins, 2001). One is motivated to work hard because they are expecting payments. Therefore when the payments are expanded into other benefits, the more the employees are motivated.
With the increased globalization and need for organization to retain the employees has led to the adoption of several laws with different dimensions are requirements all aimed at making the life of the employees and their families better CITATION Mah14 \l 1033 (Mahonta, 2014). The employee provident fund act covers the employee family pension which is a pension scheme covering the employer and their family members. The employee insurance act is the first and the major social security scheme for the employees. It covers employee long term sickness and any other injuries that may result pout of the risk of hazardous exposure at their work environment. Medical facilities are also provided for under the scheme and it extends to the employees retirement. There is also the equal remuneration act which requires that all employees are paid equal salary provided they do work of the same nature and under the same circumstances. The factories act also provide for safety and welfare of the employees in the work environment. It safeguards employees’ health in from hazardous effects and other risks that are associated with working under the work environment. These are among the common benefits and payments schemes that are adopted among several organizations around the world. However the definition and meaning of the acts differ depending on the definition adopted by different countries around the world. However they all have the same benefits associated with it. Also different organization can adopt different schemes but these are additional schemes apart from those legally provided by the governments. They are aimed at motivating and rewarding the employees.
The system of implementing the total rewards strategy needs a thorough scrutiny before its implementation. First factor to consider is the aims or objective of the rewards CITATION Hen07 \l 1033 (Heneman, 2007). Different rewards can have different outcomes depending on how they are implemented. The total rewards has become a major competitive strategy that has been adopted by several organization across the world. Therefore one of the core consideration that organizations take i...