Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. HRM can also be performed by line managers. HRM is moving away from traditional personnel, administration, and transactional roles, which are increasingly outsourced. HRM is now expected to add value to the strategic utilization of employees and that employee programs impact the business in measurable ways. The new role of HRM involves strategic direction and HRM metrics and measurements to demonstrate value.
Benefits are a portion of a total compensation package for employees. Benefits are a form of compensation paid by employers to employees over and above the amount of pay specified as a base salary or hourly rate of pay. A comprehensive, common set of benefits might even includes, paid time off such as sick days, vacation days. In addition to these basic benefits, employers might offer relocation assistance, legal assistance, child care benefits, employee discounts, and more. The purpose of benefits is to attract, retain and motivate the employee. It is also for the employee to contribute their effort in order to generate ideas that lead to a better functionality and enhance company performance.
The research question of this study is on how the benefits policy coherence initiative on employment in private industry. The previous researches that was done by Michael C. and John B, Dr. Ronald S. Leopold, Rosaline Chow Koo and Heidi on this topic is lack of explanations on how the companies use benefits to inspire, motivate employees in order to have good job result. For this research the hypotheses that can benefits motivate staff to improve the work place.
How benefits can motivate the employees working in private sector? 3.
Importance of the research
This research is important as to prove that benefits for employees do have impact on their job performance. This study will help the companies to understand the importance of the benefits for the employees especially for those who are working in the private sector. In other hand companies can use this research study as guideline to arrange the compensation for employees. 4.
The benefits often differ among public and private sector employees as well. One of the main attractive benefits in private sector that employees tend to have more better benefits than public sector, for instance the education assistance programs. Private sector motivates employees in term of strong and well-prepared benefits packages. "Private sector jobs can also come with substantial health benefits packages". (Jared Lewis, 2012). However the public sector employees tend to have higher job security. "Long-term stable employment is typical in public sector jobs". (Jared Lewis, 2012).
Benefits are closely related to employee satisfaction and morale; employee motivation may be considered both an action and a status. Employee motivation as a position simply explains the degree to the benefits succeeds. Employees are relatively motivated or unmotivated majored by the benefits that have to suit each employee’s level. Employees’ level can be classified according to their position; top employees such as manger and general manager; middle employees such as executive and supervisors; and lower level of employees such as drivers and front line workers. The motivation action occurs in each employee level when management set a benefit plan that makes employees are self-driven to perform their tasks in the three employees’ levels. 4.3.
Four Profiles of benefits
Employee benefits represent an investment from which companies derive value and should be managed in line with an overall business strategy rather than written off as an expense. MetLife research has found that most companies fit into one of...
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