Forward Style Inc

Memo
To: From: cc: Date: Re: Victoria Jones John Redman University of Phoenix November 4, 2013 Employee Policy

It is important to understand the difference between what benefits are required by law, and what is used for employment attraction and retention. This sets which policies may be change to improve standards of operation. There are many benefits that are required by law. These are Social insurance, Family and medical leave. Social insurance that is legally required is Social Security, unemployment, and workers compensation. Social Security was enacted in 1935 by Congress (Noe, Hollenbeck, Gerhart, & Wright, 2008). Unemployment insurance is for individuals terminated that qualify for unemployment benefits. Workers compensation protect employees form work injuries (Noe, Hollenbeck, Gerhart, & Wright, 2008). Family medical leave act provide employees with 12 weeks of protected employment for qualifying events. This applies to 50 or more employees (Noe, Hollenbeck, Gerhart, & Wright, 2008). The current FMLA exceeds standards by offering 6 weeks paid. The requirement is 12 weeks unpaid, and is used to protect employment only (Noe, Hollenbeck, Gerhart, & Wright, 2008). This offer qualifies as mandatory and as employee attraction. This excellent perk allows for opportunity for employee to take care of a family member or themselves without hardship for the first six weeks. Benefits that are not required by law are: Private retirement plan. Medical insurance, dental insurance, disability insurance, pay time for not working, stock option, and child care. A private retirement plan is a pension that provide employees additional funds. Pension improve retention through rewarding individual when retiring. Medical and dental insurance provide coverage for employee for expense. The policy itself may vary depending on plan structure. Insurance typical pays percentage of cost for employees in medical visits. Improving medical coverage is a good recruiting strategy. Better quality package appeal to individuals (Noe, Hollenbeck, Gerhart, & Wright, 2008). This option allows for free of mind in a situation of a life changing event. Common occurrence may be a broken foot, or limb, that prevent day to day operation. Common insurance option are PPO, and HMO packages (Noe, Hollenbeck, Gerhart, & Wright, 2008). Recent years to improve

wellness, employee have been offer wellness programs to aid employee health. This in benefit lowers cost of insurance through better health of the employees (Noe, Hollenbeck, Gerhart, & Wright, 2008). Insurance is a costly optional benefit for employers, and employees. Typically different packages are offer to defer cost to what is need for an employee. Disability insurance is an option for employees that allow for coverage when a person is disabled to work. This is common in two forms. Short-term, and long-term disability (Noe, Hollenbeck, Gerhart, & Wright, 2008) Pay time for not working is important benefit for employees and candidates. Offering a fair vacation package ensures. The benefit of this allow for an employee to have paid leave to have personal pleasure without additional pressure from work. Vacation time typically for an employee is 10 days in the United States (Noe, Hollenbeck, Gerhart, & Wright, 2008). The benefit of this a low cost insurance plan to balance labor claims. This entitlement is a recruiting method, and may be required in some states. Stock option provide employees a method to invest into the business. This create entrepreneurship for the individual. The retention provide a special offer that allows for employee a special rate. This allow for investment back in the company. The entrepreneurship Child care is a benefit that allows employees to work while children are tended through a professional service. This method provides opportunity for different needs for candidates. Child care allows for single parents or couple of bit parents working to work. Child case is costly method within a company. A good alternative is a discount program for a local qualified network (Noe, Hollenbeck, Gerhart, & Wright, 2008). Utilizing a discount program is less costly, and lower liabilities. Each of these are viable option for Harrison Corporation. Offering such a diverse package maintains retention. Many or retention methods. The purpose of retention save company in hiring, and recruiting. With diverse benefits will appeal to diverse individual in recruiting practices.

References Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. (2008). Human Resource Management. Gaining a Competitive Advantage. New York, New York: McGraw-Hill.