Retirement Plan Enhancements
FIN/422
Agenda
IntroductionOn-site daycareWellness programsEmployee stock option planProfit match to the retirement planConclusion
Introduction
“As in all successful ventures, the foundation of a good retirement is planning.” – Earl Nightingale
On-Site Daycare
More ProductivityBetter Quality workRelatively low cost to the companyHigh value to the employee
Wellness Programs
Helps our employees have overall better health.Can cause our insurance premiums to lower because of the program and the better health of our employees.Employees can be more productive and use less sick time because they are in better health.
Employee Stock Option Plan
Alternative source of compensation for employeesEmployees have a “stake” in how the company performsPerformance-based incentive for additional stock options Helps recruit new talent to the companyRetention tool for loyal and experienced employees
Profit Match to the Retirement Plan
Increase employee productivityEncourages employees to increase productivityHigher revenue and profit potential
New employee potentialAttract potential new employeesCompetitive employee benefits
Conclusion
These benefits are an important key to the work-life balance. Employers are in a better position to garner the benefits with tax breaks associated with such benefits.The cost for employers is typically less than that of an individual which furthers the idea that these benefits should be offered. Business strategy is the best way to implement benefits and should always be considered. Employers should look at these benefits as an asset and not a liability.
References
Parker, T. (2019). Top 20 Retirement Quotes. Retrieved from https://www.rothira.com/top-20-retirement-quotes Murphy, T. E. (2010). BENEFITS and Beyond A Comprehensive and Strategic Approach to Retirement, Health care and More. Retrieved from https://phoenix.vitalsource.com/#/books/9781483379111/cfi/6/2!/4/2@0:56.7