Evaluating Benefit Packages in the Marketplace (Essay Sample)
Your assignment is to evaluate the benefit packages of three similar companies: AT&T, Sprint, and Verizon. Which, in your opinion, offers the most comprehensive benefit package, and why? Compare each company’s histoxy and demographics as well as the employee benefits it offers. Your report should include evidence (such as financials, employee turnover rate, benefit cost, and so on) to support why the company you selected has the best "Complete Benefit Package.”source..
Benefits packages in the marketplace
Employers who want to get high caliber employees that will directly and positively impact on the company's profits and success must attract the potential candidate employees to their company and not of their competition. One way to attract the potential employees is by the use of comprehensive and complete benefit packages (Carraher, & Buckley, 2008). Benefits packages are payments that are made to the employees in addition to the standard salaries or wages as compensation or other non-wage services. The benefits packages should be attractive and irresistible for the high rated employees to consider. When a company offers good complete and comprehensive benefits package, it helps attraction and retention of the employees who translate to good uninterrupted quality work by the employees. The benefits packages may include tangible benefits like money in forms of compensation and other non-tangibles like motivation and other essential services. Benefit packages that are offered by many companies in the marketplace in the modern world include health insurance, dental insurance, reliable and robust retirement saving plan, paid vacation time and holidays and many more (Oyer, 2008). These benefit packages are in the recent past being a tool to rate the best employers alongside the quality of new ideas introduced, revenue raised, profits made and tax compliance measures. This paper will take a pragmatic approach to some of the best employee benefits packages that are offered by three similar Telecommunication companies in the marketplace.
AT&T, Sprint and Verizon are some of the best companies in terms of benefit packages that they offer to their employees. Being in the dynamic and competitive market of telecommunication, these giant companies must ensure their employees are well protected and catered for to ensure productiveness and effectiveness by every employee in their payroll. Their benefits packages are the closest to the ultimate ‘complete benefit package' in the telecommunication market.
Being the largest conglomerate holding telecommunication company in the world, AT&T has more than quarter a million employees. The human resource department of this American giant company has to go an extra mile to fully and effectively address the needs and demands of many employees. AT&T complete benefit package for every employee of AT&T include perks, competitive compensation, discounted prices for AT&T products and events fees, fully paid time off (PTO) which can be spent anyhow the employees want, training and developments programs to every employee, extra tuition help by the company, comprehensive retirement saving plan and t
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