DB Reply Example

DB Reply Example DB Reply – Coursework Example Employees’ welfare Affiliation Introduction As a business owner the welfare of the employees is a majorpart in their affairs. It involves providing various benefits to the employees. While this may increase the business expenses and negatively affect the bottom line, looking after the employees will eventually benefit the company. This could lead to increased returns as the employees are in a happy environment hence, are in a position to work diligently.Employee benefitsThese are packages given to employees to keep them motivated at their workplace. These packages are sometimes viewed to be more important than the salary by a potential employee. These packages include Christmas bonuses, paid leaves, health insurances, retirement benefits, paid off days, etc.Employee benefits differ depending on the employees status. Married employees have benefits differing from those of the single. Benefits also differ for people of the two genders. The availability of employee benefits help s attract and retain eligible employees. This ensures they will also work and give their best to ensure the continuity of the organization. It helps maintain a good relationship between the employee and the employer Compensation surveyThis is an exercise in which a surveys looks into the various compensations given to employees in their work environments. This exercise ensures that the employee compensations are fair. Apart from that it ensures that they are not paid excessively to a point it hurts the organizations financial status. Various bodies have been put up for such surveys. These are such as the NCS (National Compensation Survey). These surveys can be done semi-annually or annually or biennially. Compensation surveys fall in either of into of two groups: custom and standard.Employment Laws that Influence Compensation Tactics There are various laws involved in employee compensation. These laws are used to ensure that neither part undermines the other party (employers or empl oyees). These laws are such as: FLSA (Fair Labor Standard Act) – It prescribes wages and overtime pay. This law is administered by the wage and hour divisionThe Federal Employees Compensation Act –it establishes a comprehensive and exclusive workers compensation program.The Employees Compensation Act (FECA) -This law establishes a comprehensive and exclusive workers compensation for the disability or death of a federal employee resulting from personal injury sustained while on duty.ConclusionEmployees are a major part of the economy of a country. Their welfare is usually a major factor for the employees to take in for employees. The federal government has devised various laws that govern this. The government requires all employees to ensure that their employees are well taken care of. This involves ensuring their satisfaction while working. Several bodies have also been set up to ensure that even while taking care of the employees one does not end up hurting their busi ness such as the compensation survey bodies. ReferencesDebbie Lovewell, (2011) Employee benefits/ Towers Watson flexible Benefits, Employee benefit magazine.Burn, M (2011). What Does It Cost To Replace An Employee. Abenity. Retrieved 23 March, 2015 from abenity.com/celebrate/employee-engagement-cost-to-replace-an-employee/ Bill Coleman, Compensation Survey, Givology. Retrieved 23 March, 2015 from www.salary.com/compensation-surveys.com Trevor, C. and Graham, M., (2000). Deriving the market wage: Three Decisions Area in the Compensation Survey Process. World of Work Journal, Vol. 9: 4 Lesia W (2011). How New Laws, Regulations Affect Compensation and Benefits plan. CBIA-Government Affairs. Retrieved 23 March, 2015 from http://gov.cbia.com/issues_policies/article/how-new-laws-regulations-affect-ct-compensation-and-benefits-plans