- Published: November 13, 2021
- Updated: November 13, 2021
- University / College: University of California, Berkeley (UCB)
- Language: English
- Downloads: 48
Some of the employees benefit plans that are not included in the General Mills are disability insurance, vacation, retirement plans and employee stock ownership plan. In keeping with Samuel and David (2010) employee benefits are progressively more expensive for business to provide to its workforce; as such, the range and options of the benefit are rapidly changing to include flexible benefit plans. Samuel and David (2010) indicate that benefits can be defined as forms of value provided to the employees other than salaries. Notably, some benefits like worker’s compensation and unemployment compensation are federally necessitated. Worker’s compensation is considered as worker’s right not necessarily a benefit. All the benefits listed above are tangible benefits. Some of the benefits that have not been listed in the General Mills are intangible benefits. In reference to Beam (2001) this benefits are less direct i. e. appreciation from the boss, nice office, and likelihood for promotion. Other benefits that not listed in the General Mills and would be useful for the employee welfare are medical insurance which are often paid partly by the employees due to their high cost a are medical insurance.
There is much evidence in this case that demonstrates that General Mills benefits are tied to corporate objective and benefits objectives. In keeping with Charles, one of the main objectives of the employees’ benefits is keeping the employees on board for a very long time and reducing the rate of turn over among the employees to 3 percent. An example is given by an employee’s (Juarez) acknowledges how General Mils has done a first-rate profession in giving him enough support and benefits.
Reference
Beam, B. (2001). Employee benefits. Chicago, IL: Real Estate Education.
Samuel E & David J. (2010). Employee benefits and executive compensation : proceedings of the New York University 59th Annual Conference on Labor. Alphen aan den Rijn Frederick, MD: Kluwer Law International Sold and distributed in North, Central and South America by Aspen Publishers.
