The importance of employee benefits as a strategic component of fulfilling the goals of HRM is to produce quality workers and to keep turnovers at a minimal. Although many benefits are not legally required, it is important for companies to keep up with competition and know how to get and keep their employees. Working as a Human Resource Manager I must know what motivates and attracts quality workers, with most the paycheck is just not enough, they also require benefits or perks to stay or come with a company. Using benefits as a strategic component helps enhance the effectiveness, morale, productivity and achievement of goals. Employees tend to be more motivated to work when they feel they are attended to. When they can feel that they have benefited from the organization, they become loyal to an employer and will stay from moving to other organizations. Savings due to retention overthrown the benefit costs thus make the organization a workplace with more income. Through employee benefits, goals to fulfill goals of HRM are achieved in efficient and effective ways. I wouldn’t want to run the company as a tyrant any ways and one must make their employees happy as rewards for all their hard work to help you achieve the company goals. The company wouldn’t lose out of this if set up properly. If profit or production is not high enough then perks/rewards/benefits couldn’t be offered. The employee would have to have stipulations but both side benefits as long as work is being produced.
Genentech and Zappos are using employee benefits as a motivating tool by offering benefits that keep them from being distracted and to not worry. Obviously Genentech has done a great job of this by celebrating their 11th year on Fortune’s “Best Places to Work” list. This company understands it takes more than just money to motivate their workers. The desire of being accepted and appreciated is equally if not more important, and Genentech has found ways to show its’ employees this...
Please join StudyMode to read the full document