Discretion Benefits: Employees Management

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Discretion Benefits: Employees Management

Table of Contents

Introduction
Discussion
Conclusion
References

Introduction

Discretion benefits are benefits the employer is not required to provide employees. Notwithstanding their optionality, most companies provide them, because their presence attracts the most competent employees, increasing their involvement and productivity (Aruldoss et al., 2021). Employees often choose the company that offers a sizeable social package, all other things being equal. The problem facing the business is determining what benefits employees expect and what benefits the company can provide based on its financial capabilities.

Discussion

I believe that the most important discretion benefits are health insurance and a flexible schedule. Medical insurance is one of the most popular benefits in the labor market (Buhmann et al., 2019). These benefits are primarily prioritized in response to the COVID-19 pandemic. Lockdown illuminated the need for changes that have long been related to the development of technology and the increased flow of information and new tasks performed by employees and employers (Choudhury et al., 2021). I feel that health insurance is one of the most important discretionary benefits because it protects employees and makes them feel more financially secure. As a result, employees can experience less stress and anxiety about the possible financial consequences of their illness and focus more on professional productivity. Furthermore, having health insurance can make employees feel more appreciated by their company, increasing job satisfaction and loyalty.

Another key discretionary benefit, in my opinion, that both employees and employers gain from is a flexible schedule. This helps employees to better combine their work and personal duties, which may include caring for children, and elderly relatives, as well as attending personal medical visits. According to the research, flexible working arrangements have a 4.4 percent rise in work production (Choudhury et al., 2021). The results of the work and the productivity of employees can deteriorate if they are unable to perform their non-working but important tasks. They may be more distracted by calls and worries, and a flexible schedule makes it possible to independently and more effectively manage their schedule and not be distracted by personal issues during working hours.

Conclusion

While there is no one-size-fits-all method of supporting employees to increase their motivation, engagement, and commitment to the company, discretionary benefits can make a significant difference. This applies most of all to health insurance and a flexible schedule. These are the most significant components of discretionary benefits since they give vital financial security and personal freedom to employees.

References

Aruldoss, A., Kowalski, K.B., & Parayitam, S. (2021). The relationship between quality of work life and work-life-balance mediating role of job stress, job satisfaction and job commitment: Evidence from India. Journal of Advances in Management Research, 18 (1), 36-62. Web.

Buhmann, K., Jonsson, J., & Fisker, M. (2019). Do no harm and do more good too: connecting the SDGs with business and human rights and political CSR theory. Corporate Governance, 19(3), 389-403. Web.

Choudhury, P., Foroughi, C., & Larson, B. (2021). Workfromanywhere: The productivity effects of geographic flexibility. Strategic Management Journal, 42(4), 655-683. Web.

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