EMPLOYEE HEALTH AND REWARD SYSTEM

Employee Health and Reward System

Abstract

This research paper demonstrates and explores the concept of employee and health systems in a winning support for an organizational change in a holistic context. The main focus and point to highlight is the employee overview about the employee reward and health system and how it is important for an organization to implement the systems and document it with respect to the awareness of the systems that have the strategic use in the context to support change management.

Table of Contents

Abstractii

Introduction1

Discussion2

Overview of Reward and Health System to the Employees2

Importance of Reward and Health System to the Employees4

Importance of Reward and Health System to the Organization5

Formulation of Policies That Back Formation of Reward and Health System5

Implementation of the Policies Formulated6

Management Leadership and Employee Involvement8

Workplace Analysis8

Hazard Prevention and Control9

Safety and Health Training and Education9

Financing the Reward and Health System9

Challenges Faced in Formation and Implementation of Reward and Health System.10

Conclusion10

Recommendations11

Reference13

Appendix14

Employee Health and Reward System

Introduction

It has been noted that employee productivity increase when they are provided with proper health and compensation benefits and system. The environment and the basics condition should be provided by the organization to the employees so it will enhance the level of enthusiasm and productivity. As, it has been an evident that the employee productivity does not improve unless, and until they are provided with the basic environment, within the working premises. Under poor health systems employee cannot survive for a longer period in the organization. In addition, increased compensation and benefits has been found as one of reason to notice a productivity increase significantly.

Workers compensation is described as the "organization's assurance" to make available certain benefits for the employees of that an organization, such as medical insurance, transport, loan facilities, retirement benefits, etc. Every organization has a different set of procedures and policies for the compensation and benefits which entirely depends on the employee's gross salary and grade (Somer, 2009). It is an HRM planning activity that covers the payments of employees for their services they rendered to the organization.

Employee benefits (also called fringe benefits, perquisites, or perks) refer to non wage compensation provided to employees in addition to their normal wages or salaries. These benefits designed to promote economic stability and enhance living standards by providing specific services. Historically, employee benefits initiated by the government to ensure U.S. companies provided economic security for their workers. As organizations became more concerned for the general well-being of their employees and realized the advantages these programs could bring, firms began to offer a variety of voluntary employment-based benefit programs. There are two basic types of employee benefits: voluntary benefits and mandatory benefits. Many employment-based benefits (i.e., retirement plans and health insurance) provided voluntarily by businesses. The government supports these voluntary employment-based benefits by granting favorable tax treatment both to employers that sponsor them and to the workers who receive them. Certain other benefits, including Social Security, unemployment insurance, worker's compensation, and family and medical leave, are mandatory under federal or state law. Some of the benefits organizations now offer include housing (employer-provided or employer-paid), ...