Competitive Benefits Research Paper Example | Topics and Well Written Essays - 1000 words

Competitive Benefits - Research Paper ExampleTherefore, this discourse kicks off by analyzing the benefits that arrest with compensation components and ways in which organizations whose employees argon Unionized can remain competitive.According to the Bureau of Labor Statistics, employees who are delineate by a kernel receive higher salary as compared to the non- union workers. Moreover, they have more access to various benefits such as medical insurance, despite the declining rate of union membership. Research shows that in the year 2001, only 18 million workers were under a union as compared to 16 million workers in the year 2011. Nevertheless, it is without enquiry that unions have an affirmative effect on various aspects of job quality such as employee benefits and wages (Long, 2013). Therefore, this treatise focuses on analyzing how a firm whose workers are represented by a union can remain competitive against the non-unionized workers. It will also give limelight to the rol e of benefits and the components of an employee benefit package. It is without doubt that compensation benefits meet a major role in reducing turnover, enhancing productivity, and increasing the rate of morale among workers.Employee benefits are non-wage compensation that is offered to workers in addition to their normal salaries. For organizations that endeavor to affiance competitive workers, they have an attractive benefits package that is either monetary or non-monetary. For instance, the monetary compensation benefits can include bonuses, profit sharing, and stock options among others. There are also the non-monetary benefits such as health insurance, pension plans, disability insurance, paid holidays, educational assistance, flexible working hours, sick leave, work at home orientated programs, retirement plans, and dental insurance among others. It is to be noted that such benefits are paramount in attracting, motivating, rewarding, and retaining workers (Reddick & Coggburn , 2012).Research shows that