Intrinsic compensation and discretionary benefits essay

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Intrinsic compensation and discretionary benefits essay

Benefits and Challenges of Enterprise Systems Nowadays, there are many differences between legally required and discretionary benefits.

Thus, we are going to define them in the body of this paper. There is no doubt that many people spend almost half of their life time at work. It means that people should take care of their working environment and think about legally required and discretionary benefits very carefully.

In such a way, it is not enough to follow only the legally required benefits, but it is always necessary to remember about discretionary ones.

As it was previously said, benefits are generally divided into two big groups, legally required and discretionary. The term legally required speaks for itself, because exactly these benefits must be provided to the employee by law.

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In other words, legally required benefits include special programs established by the United States Government for the purpose of to protect employees from expected and unexpected events in their lives, such as unemployment, disability, illness or retirement.

In addition, these programs are regulated by law and their non-observance may be considered in the court. Some companies have no enough costs for discretionary benefits, but their first duty is to provide exactly the legally required benefits, because if the company is not able to afford the legally required benefits, it should be closed in any way.

The government set special standards for the legally required benefits and control them by special procedures. Observing discretionary benefits, we can say that they are greatly different from the legally required benefits, because their first duty is to motivate employees to work better and provide employees with the higher working environment.

Discretionary benefits, in contrast to the legally required benefits, are not required by law, and they may vary from organization to organization.

Traditionally, companies competed for the best employees in one or another industry through the big number and kinds of possible benefits. Nowadays, discretionary benefits present the level of one or other company, and they also demonstrate that company is able to sustain competitive advantages.

Discretionary benefits may be divided into three main groups: Additionally, explaining previous statement we can say that comprehensive benefit package also includes in itself not only financial and health care benefits, but also personal and career benefits, which help the employee not only to earn money working in the company, but also to think about own self-realization.

The Perspective

To sum up, we have observed both the legally required and discretionary benefits and pay a specific attention to their differences.Kudos to President Weah for enabling us to Once Again Sing Prince Nico “Free Education” Music in Liberia, but was it planned? Editorial The recent pronouncement of free public college and university education in Liberia by president George Weah must be applauded by all Liberians and well-wishers of our beloved country.

Someone wrote in: I have a friend who has recently turned Agnostic, and in a debate with him about the existence of a loving God, a few questions were brought up that I could not answer.

Compensation and Benefit Systems Presented by Name Presented to Lecturer Institution Topic Date Compensation and Benefit Systems Intrinsic Compensation and Discretionary Benefits Intrinsic compensation refers to ability of workers to gain pleasure from their accomplishments of their daily activities.

Legally Required Payments compensation paid as required by law. Estate-Building plans return to generate evidence for its employees.

Intrinsic compensation and discretionary benefits essay

Employee Service and organized. services to employees.

Intrinsic compensation and discretionary benefits essay

Employee compensation Perquisites provided to enhance the social. 1. Insured benefits compensation to assure economic stability. Intrinsic Compensation and Discretionary Benefits Essay - Compensation and Benefit Systems Intrinsic Compensation and Discretionary Benefits Intrinsic compensation refers to ability of workers to gain pleasure from their accomplishments of their daily activities.

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