Importance of Employee Services
1. Employee Retention
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Individuals, particularly those with families, consider the benefits an employer offers an important factor when deciding to accept a job offer or leave a company. Satisfied employees reduce turnover and, in turn, training and recruiting costs. For example, employee assistance programs, or EPAs, are free services that grants employees and their families access to counseling services interventions for substance abuse problems, legal assistance and financial counseling free of charge. These complimentary services contribute to the employer-employee relationship as an employee feels as if they employer cares about his overall well-being and makes him more motivated to remain with the company long-term.
Financial Security
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According to Pedersen, Dowie, Clabby & McCausland Insurance, employee services help enhance a worker's financial security. The insurance company states that the cost of employee services can cost up to 40 percent or more of a worker's salary, which can add up to a significant amount of savings for a beneficiary. Services such as health insurance help prevent an unforeseen financial hardship that can ultimately affect her productivity at work. Services that help employees plan for retirement, provide tuition reimbursement and receive legal assistance can also help ease the financial burdens and encourage saving money.
Increased Employee Satisfaction
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Employee services can help enhance the way employees feel about themselves and the company for whom they work. According to MetLife Alico, a competitive employee service package can help retain employees, as well as help the company gain employee trust. A greater sense of trust among employees can improve a company's culture and organizational development, as workers will feel the employer values their contributions to the company's objectives. Examples of employee services that can help increase an employee's sense of satisfaction include career services, continuing educational opportunities and EPAs.
Increased Productivity
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When employee services include health benefits, workers are sick less often due to preventative care and a company can see a drop in absenteeism. When employees feel well, they are more productive, perform better and produce a higher quality of work. Additional employee services that can help increase productivity include mentor programs within the company, health and wellness programs and continuing education opportunities that are relevant to an employee's position. A company that invests in its employees will in turn find that employees make personal investments in the company when they strive to improve upon their skills and expand upon their knowledge.
1. Employee Services
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Companies trying to maximize employee satisfaction often undertake programs to make their people's lives easier. Organizations sometimes offer programs such as picking up dry-cleaning, bringing in meals and offering on-site daycare. These all constitute employee services and are part of a company's overall benefits package.
Employee Benefits
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Benefits are an encompassing term for all the non-monetary compensation employers offer their teams. These often include insurance, paid time off and retirement plans. Many companies also offer employee discounts and services as ways to enhance their offerings.
Insurance
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Health insurance is usually at the core of most employee benefits programs and people often use the term "benefits" synonymously with their medical plans. According to a 2010 report by the Henry J. Kaiser Family Foundation, 60 percent of Americans get their health insurance through employersponsored group plans. However, life insurance, short-term disability and long-term disability plans are also common forms of employer-sponsored insurance.
Frequency
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While employee benefits plans are common among employers, employee services are not nearly as widespread. Typically, only larger companies have the resources to focus on advanced employee satisfaction and retention programs. Many major technology and computer companies have pioneered a variety of nonmonetary perks to increase employee satisfaction using services. Small operations frequently lack the manpower and funds to support employees with free services.
Types of Employee Benefits & Service
In addition to a salary, employees may receive a range of benefits and services from their employers. Benefits and services may vary depending on the employee's position or seniority, but most employees of a company will generally share the same basic benefits package. Benefits and services packages also differ among companies. Related Searches:
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Employee Medical Employee Vacation Days
1. Vacation
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Most employee benefit packages include vacation time. These days off are usually paid, though some employers may offer unpaid vacation time as well. The amount of vacation time varies greatly and depends on the company's policy, but amounts typically range from five to 20 vacation days per year. Vacation time is usually accrued on a per month basis. The employee must schedule the use of vacation days in advance and gain approval from his immediate supervisor or human resources.
Sick Days
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Employees may receive paid or unpaid sick days as part of their employee benefit package. The amount of sick days an employee receives varies depending on company policy and seniority. The amount of sick time given to an employee typically ranges from five to 10 days, though employers may offer more or less time. Some companies may require a note from a physician that verifies illness before approving the use of a sick day.
Retirement
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An employer may offer pension or 401k savings plans for employees to save for retirement. An employer may set specific amount of money to be contributed to an employee's 401k on an incremental basis or the employer may offer a matching benefits program. Typically, this means the employer will match the amount of money an employee contributes to her 401k up to a certain amount. Some employers may offer a 401k savings account but without employer contributions.
Health Spending Accounts
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A health spending account or flexible spending account may be offered by the employer to help offset the cost of medical care not covered by health insurance. Qualifying expenses usually include co-payments for doctor's visits, prescription costs or over-the-counter medication. These programs may be a reimbursement model, where employees submit qualifying receipts for reimbursement, or the employee may receive a debit card that can only be used for medical expenses.
Discounts
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As part of the employee's benefit package, a company may offer discounts for in-house products or services. For example, retail companies often offer an employee discount for merchandise sold by the company. Other companies may also offer discounts for products and services offered by a network of outside companies. The employer may have relationships with companies that offer cell phone service, cable television, spa services or hotel accommodations and savings may be passed on to the employee.
Definition of Employee Services
By an eHow Contributor
As the need for companies to provide employee benefits and retain quality personnel within their organization has increased, so too has the awareness that companies must provide comprehensive employee services. Related Searches:
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Federal Employee Benefits Employee Recognition
1. Employee Services Definition
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According to the Employee Services Management Association, employee services encompasses "recreation programs, community services, recognition programs, event planning, childcare/eldercare services, convenience services, and travel offerings."
Employee Services Function
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Employee services departments or personnel are typically housed in an organization's human resources department. Employee services generally augment an organization's existing HR functions, such as payroll and benefits administration, with additional services including childcare and educational reimbursements, and employee recognition.
Employee Services Personnel
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Employee services workers are similar to HR workers in that they provide employees with the entire spectrum of offerings and services that an organization maintains. If these workers are not themselves also HR employees, they usually work hand-in-hand with those individuals within an organization.
Employee Assistance Programs
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As employee services have expanded at companies throughout the U.S. and globally, many have come to include employee assistance programs, which help individual employees confidentially deal with personal problems that otherwise would negatively affect performance.
Employee Services Future
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The need to retain quality employees has in recent years conflicted with the need to keep employee services costs low. As such, the future of existing employee services remains uncertain, with some companies cutting existing services while others continue to expand non-compensatory benefits.
