Linking benefit and pay and to competitive advantage
For companies to be able to give their best and produce high quality goods and services they require to have a work force which is of high productive, their productivity is mostly based on some few aspect such a pay and benefit and competitive advantages. As companies/firm face still competition to control the market some management of these companies are coming up with ideas to please their employee and accommodate them in their firm. All firms require these three things.
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Some have attractive benefits others are reassessing their offers some package are fund education, elderly care , health care for employee family, offer transport for their employee, rewarding the most productive employee and providing houses for their employees.
Some companies encourage their employee to further their studies and climb up the ladder in the company. This is done in order to increase employee experience in what he/she handle in the company. It’s also done in order to increase the productiveness of a employee.
As most companies face stiff competition service and good, some firms are starting a package to cater for their employee who have since retired and are in their late ages. This is done in order for an employee to be bale to concentrate on his duties and give their best in that company. Company which offer these services tends mostly to out d other s who do not have such kind of services in their operation.
Health care for their immediate family
Where an employee is required to leave his place of work and go to take his immediate member of family to a hospital, some companies are cutting this wastage of time by introducing health care services to their employee not only saves time the service will also save the employee money as he/she does not need to spend anything in the hospital as his company will settle the bills.
Offer transport for their employee
Firm will buy buses which are used to ferry their employee from their residence to their place of work this is done in order to be bale to save to time which they could have used to go and look for other means of transport and thus reporting to work late or already exhausted and thus been unable to produce more for the company. In some firm every employee is dropped at his/her door and thus save companies and also employee time.
Rewarding the most productive employee
In most firms an employee who produces more in the firm is mostly rewarded by the management this is done in such away that the productiveness of employee is perused, where by a firm provide a questioner where every employee fills the questioner with the guidance of the management.
Providing houses to employee
In area where the employee comes from a far distance the firm provide houses for their employee where the employer do not want their employee to waste time they are provided with a house where they resides together with their family. It’s also done in order for a company to be able to know that their employees are safe.
Companies which have the above described services to their employee tend to have high production and do better than other who does not have any benefit /competitive advantage.
Messer. M (2006) Benefits: Gian a competitive edge with offerings employers want strategic finance 88.no5, 8, and 10
Competition for experienced accounting and finance professional increase organization are looking for ways to give themselves an edge way top help, a worker achieve a better work life balance this is by making the worker comfortableness in his work and also in his life among the benefits is over time work and companies that offer facilities such as health care or similar effort demonstrate commitment to personal to their employees.
They use various ways such as sharpening the skills of the employee,
Sharpening of skill
This is done by the company sending employee to school to increase their skill in the company. This effect is felt by the company in their production. Incase where an employee is kept comfortable by the company he tends to produce more in turn of return. A company input can determine the employee out put this is determined oh how committed is the company to its employees. Company and employee vary widely. In order for a company to perform effectively its must know who to hire, retain nature and develop its employees.
The trouble is the employee effective studies show that the best and the academically brightest are more likely to leave a firm. This is the best are mostly not comfortable either by the working condition or the workers pay and benefits and thus they are poached by other companies which have better conditio0n and benefits. A company may use the benefits to increase its employee morale and retaining and attracting employees it can also use benefits to keep employee attitude and increase their performance. Such benefit includes career growth or a mentor in a firm.
This is whereby the company can take its employee to school in order for them to acquire new skill for the company. This makes the employee to feel that the company owns them and thus give all the best to the company. What is important in any company is the employee and their status a important factor any company to keep its clients and its business knowing its attached into it .its capability to recruit, retain and develop its employees.
In most countries in the third world many workforces will join many companies with a view of giving their best into the company will be determined by company interest in strengthening and restructuring the employee profession. Those different employees will look different in most companies, some will be challenged by the rumination given by the company and advance their career with the aim of crimping the ladder and also for a better pay. Some will not work with the referenced company for long due to been unable to adapt to the company, other will go to better paying companies, provide better working condition have good package.
Many employee do not take a company as a place to work for over five years they gauge their stray on some aspect its understood that many employee in the country are more likely to leave seeking better working condition and other rumination.
In some companies they have developed ways of tapping the promising employee by promoting him over the ladder, they also encourage them to go to school and advance their career in order for them to climb the ladder of promotion and get better pay thus encouraging them to work with the said company. Companies should at least look into employees policies under which they work.
Schwartz B,R,Wurtzel J, Olson L ; attracting and retaining teachers organization for a economic cooperation and development. The OECD Observer no261.27-28
In each and every company all workers rigorous requires some readiness. In order for them to be able to produce for the company this means they have to asses the work of the company what is expected of them and their aims/goals.
For example some company creates a week in the company calendar for rigorous training and also introduction. This enables the employee to be able to produce what is expected of him. It also expects to minimize time loss in the company. To develop a company to be able to produce more and have effective employees a company is supposed to match the productiveness of an employee. In some company they provide a questioner which every new and old employee fills, it offer each week this is aimed at direct correspondence between the directors and employee. In order one to known the weakness and strong ness of an employee. Its coordinated in such a way that the directors reads the questionnaire and when they note there is laxness in one employee a special team is there to assist him.
Some firm share workshop with other firm this is to ensure that an employee can learn from the other employee of another firm other organization organize for departmental workshop this sharpens an employee and also he /she get to understand what he does not understand . This is aimed at putting them with the high performing employee and low performing employee to effective knowledge.
One common thing is that good employee is an advantage to the company in which a company can be able to produce more and employee can learn from one another. Supporting and retaining employee’s makes them feel that they are part of that company thus they work with all their strength knowing that they will be in that company for a long period. In each and every form when making a policies one should address pay and potential for company /sector growth.
In many countries most in third world country worker5 policies are becoming a bit tough to the worker and many people are resulting for self- employment a company should come up with way to reward the employee i.e. by paying more for one who produce more. This is linking pay and benefit to competitive advantage.
T. H Koen,Wang C,J.2005 Benefits offer an advantage a firm productivity ?an empirical examination personnel review 34:no4.,393,512
This is explaining or suggesting that employee benefits have a moderate effect on firm productivity, irrespective of industry or firm size.