The article I am discussing is from the Society for Human Resource Management and is titled “As Work Changed, Employee Pay and Benefits Stepped Up.” This article discusses how the past year has been incredibly challenging for workers and employers due to the pandemic (Stephen Miller, 2022). To sustain the needs of the pandemic, employers have had to adjust their compensation and benefits packages to meet their employees’ demands. The article discusses the different payment models, such as hourly, salary, and bonuses, that employers have implemented to incentivize workers and increase their overall satisfaction (Stephen Miller, 2022). The article also discusses employee benefits, such as healthcare coverage, parental leave, flexible schedules, and employee appreciation programs.
This article relates to my compensation and benefits class in many ways. This course discusses how important it is for employers to compensate and provide employee benefits correctly. Employers must ensure they are correctly compensating and delivering benefits to their employees (Stephen Miller, 2022). Providing a competitive wage and comprehensive benefits package can help attract and keep top talent and create a positive work environment conducive to productivity and employee engagement. Failing to provide fair and equitable compensation and benefits can lead to employee dissatisfaction, absenteeism, and lawsuits. Additionally, providing equitable compensation and benefits is required by law in many countries, and employers who fail to do so can be subject to fines and other penalties. This article also outlines the different strategies employers have implemented to ensure their employees are taken care of in response to the pandemic (Stephen Miller, 2022). For instance, flexible working arrangements: many employers have implemented flexible working arrangements to help employees manage their workloads and home lives during the pandemic. Therefore, employers need to understand the different pay models, benefits packages, and other initiatives they can offer employees to remain competitive and retain them.
Reference
Stephen Miller, C. E. B. S. (2022). As Work Changed in 2021, Employee Pay and Benefits Stepped Up. SHRM. Web.
