initial post :
Check out the Fortune 100’s Best Companies to work for
https://fortune.com/best-companies/2021/
Chances are that these organizations are “the best” because of the benefits they offer.
Do some research on a few of these organizations on the list:
1. What are some of the most interesting benefits being offered,
2. The United States mandates only four required benefits, yet U.S. employers provide many other benefits—such as health insurance, retirement benefits, and paid vacations—voluntarily. What are the reasons (at least three) that so many employers provide these benefits even though they are not legally required to do so?
reply to two students in short answer
student 1:
The Fortune 100’s Best Companies article shared a lot of different benefits that the top companies have provided for their employees during one of the most difficult years in history. A company that caught my eye was Cisco. Benefits that Cisco provided for its employees ramp up communication and expanded benefits and access to mental health services. They also provide multiple “days for me” which allow the employees to step back and recharge with no questions asked. Cisco has addressed the stigma and is raising more awareness of the situation.
Employers provide added benefits to their employees for many different reasons. One reason that there are added benefits to employees is that they attract and maintain the most talented employees. Talented employees look for strong benefit programs. When a company offers added benefits that go beyond compensation, it shows the company has strong finances and wants to invest in you. Another reason to provide added benefits is that there is improved wellness. With benefits like health care, dental care, or access to mental health services, employees are able to maintain their health and not be forced to attend work and get the rest of the team sick. The final example of companies providing benefits to employees even though they legally don’t have to is increased focus and productivity during the workday. When employees don’t have to worry about things like illnesses, childcare, and finances they are oftentimes more well-rested and are more productive during the workday. While these added benefits do not have to be provided for employees, I believe it is extremely beneficial to have them so you get your best employee every day.
student 2:
Merck, the company that is last on the list at spot 100 is one that caught my interest. They are a comply that TRULY has it all. From educational reimbursement, medical clinic on campus, fitness center on campus, compressed work weeks, subsidized childcare, unlimited sick days etc., the list goes on and on. And, on top of all of their benefits, 50% of their workers are women and 29% are minorities. Those numbers are large compared to many other companies, especially one that has nearly 75,000 employees.
There are many reasons why employers provide so many benefits to their employees, the main one being competition. To ensure that they secure their talent within their organization and lowing their turnover rate companies must remain competitive with their benefits offerings to their employees. Additionally, benefits like HSA contribution, fitness reimbursement, discount on health care with yearly blood work etc., help to ensure their workforce is driven to remain healthy. It is important to ensure you are always putting your best foot forward at work however, to do so you need to ensure you are taking care of yourself outside of work as well. So, by offering incentives for employees to reamain healthy ensures that the companies’ employees are the best, all around, that they can be. And lastly, a reason a company would offer additional benefits is for tax advantages for the company. There are many benefits out there (i.e., health care) that by companies offering these benefits to their employees allows them a tax break or advantage that overall benefits them as well.
