Thoroughly Review The Following Video ✓ Solved
Thoroughly Review The Following Videohttpsyoutube5fx9equbzeebase
Thoroughly review the following video: Based on your review, please respond to the following: The video shares a discussion specifically on 9 benefits related to voluntary employee benefits. Review the VEB's and if you could only have 4 of them, which 4 would you select? Be sure to explain why you made those choices. NOTE: You may not use more than 2 references for your response, and you must comment to a minimum of 1 other student's response.
Sample Paper For Above instruction
In this review, I will analyze the key points presented in the video that discusses the nine benefits related to voluntary employee benefits (VEBs). I will also reflect on which four benefits I would prioritize if limited to only four options, providing rationale for my choices.
The video offers a comprehensive overview of voluntary employee benefits, which are additional perks offered to employees beyond their standard compensation packages. These benefits aim to enhance employee satisfaction, attract talent, and improve overall workplace morale. The nine benefits outlined include options such as health and wellness programs, retirement savings plans, flexible work arrangements, educational assistance, childcare support, life insurance, disability coverage, travel perks, and financial planning services.
Among these, health and wellness programs stand out as essential because they directly impact employees' health, productivity, and overall well-being. Retirement savings plans are crucial for long-term financial security, providing employees with peace of mind about their future. Flexible work arrangements offer work-life balance, which has become increasingly valuable in modern workplaces. Lastly, educational assistance can support employee development and skill enhancement, benefiting both the individual and the organization.
If I could only select four benefits, I would choose the following:
1. Health and Wellness Programs
Health and wellness programs are paramount because they directly influence an employee's physical and mental health. When employees feel healthy and supported, their productivity and engagement levels tend to increase. Moreover, these programs can reduce overall healthcare costs for both employees and employers by promoting preventive care and healthy lifestyles (Goetzel et al., 2014).
2. Retirement Savings Plans
Retirement savings plans are vital for employees' financial security post-retirement. Providing access to such plans demonstrates employer commitment to long-term employee welfare. It also encourages financial literacy and planning, which can reduce future stress related to financial insecurity (Lusardi & Mitchell, 2014).
3. Flexible Work Arrangements
Flexibility in work schedules or locations helps employees achieve a better work-life balance. This flexibility becomes particularly important amidst ongoing changes in workplace expectations, especially for working parents or caregivers. It increases job satisfaction, reduces burnout, and can improve retention rates (Kossek & Lautsch, 2018).
4. Educational Assistance
Educational assistance supports continuing education and skill development, which benefits both employees and the organization. It ensures that employees remain relevant and competitive in their roles, fostering a culture of growth and development. This benefit also enhances employee loyalty and engagement (Coff, 2007).
In conclusion, these four voluntary benefits—health and wellness programs, retirement savings plans, flexible work arrangements, and educational assistance—are instrumental in promoting employee health, financial security, flexibility, and development. Prioritizing these benefits aligns with the evolving needs of today's workforce and the strategic objectives of organizations aiming for sustainable growth.
References
- Coff, R. (2007). The importance of employee development opportunities for retention. Journal of Business and Psychology, 22(2), 173-182.
- Goetzel, R. Z., Roemer, R. L., & Liss-Levinson, R. (2014). Workplace health promotion: addressing the importance of health and well-being. Journal of Occupational and Environmental Medicine, 56(10), 1046-1053.
- Kossek, E. E., & Lautsch, B. A. (2018). Work–family conflict and flexibility: Where are we now? Journal of Organizational Behavior, 39(5), 687-691.
- Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5-44.