Question

•Describe at least 6 different types of benefits and explain: (recall; application)

•Why you believe an organization would offer/provide each of these benefits to its employees; AND,

•What type or group of employees would find each of these benefits attractive

Answer 1

Six types of benefits that the company can utilize:

1. Life insurance: providing life insurance benefits directly initiated by the company.

2. Paid leave: providing the workers paid leave especially to reward performance.

3. Worker compensation insurance: includes providing compensation to workers that were injured while working.

4. Healthcare benefits: providing Healthcare plans especially non-governmental aid programs.

5. Social security: providing social security to the workers to help keep them motivated and interested.

6. Retirement plans: includes providing retirement benefits to the workers.

The company would provide such benefits to the workers to enable them to stay motivated, provide them with job security, satisfaction and guarantee that their efforts will be rewarded even in the long run. Companies acknowledge this fact and work towards achieving a balance between the processes and worker's job security.

All the types of employees find this useful but, workers that are young especially considered such programs while they are selecting the company or the position they are applying for. Older, more experienced workers also look forward to plans like these in order to safeguard their interests as well as secure their future.