Total Rewards Aflac used its total rewards program to become a leader in employee engagement. Hoole and Hotz (2016, p. 1) identified a strong correlation between total rewards and employee engagement which are important motivators for employees in the workplace. Case study 3 provides an overview of Aflac innovative use of its employee compensation and benefits program to achieve its organizational goals. Aflac is a Fortune 500 company whose principle business is providing supplemental health and life insurance. Aflac has over 4,500 employees in a very competitive employment market. The unemployment rate for insurance professionals runs below the rate in other industries, in 2016 the unemployment rate for insurance professionals were 2.5% compared to the national rate of 4.6% (United States Department of Labor: Bureau of Labor Statistics, 2017). There is
Company Products and Services Enhance Total Compensation Aflac enhanced its employee compensation package with many the products and services Aflac provides to other companies. Aflac provides the life insurance, and its ground-breaking cancer insurance it sells to other employers to its employees and provides them subsidized accident protection insurance. Utilizing company products and services increases
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By utilizing Aflac products and services the company is able to provide additional benefits to employees at a lower cost, thus providing a better value for shareholders. Agents will see improved quality as the Aflac employees themselves utilize the Aflac service and identify areas needing improvement. Agents will be benefactors of increased employee engagement. Lastly, the non-traditional employee benefits that care for the employee like an on-site fitness center, volunteer of the month program, and health education shows that the organization values providing an enriching and rewarding workplace for its
Audience: As Dr. Barnetson is a current professor for Athabasca University, the obvious intended audience is students who are taking the relevant course. The size, layout and print style are not specifically geared towards academics, however, and the general feel of this book is more like a well-written narrative, with no charts or graphs and additional blurbs of information scattered throughout. The book would be useful tool for student studying this subject, but also to administrators of workers’ compensation systems, as well as policy writers and key decisions makers within for-profit companies. Thesis: Dr. Barnetson concludes throughout the book that the current workers’ compensation system in Canada falls very short of its goal and intentions.
Medical benefits to employees or individuals are provided inform of insurance. Health insurance is an insurance that covers an individual against the risk of incurring medical expenses. It means that, health insurance is a coverage that provides payment as a benefit in case of sickness, injury and medical expenses. The insurance company or an agency provides insurance cover to an individual, a group of people or to an organization (Thomas, 2000). However, in this case we will compare medical benefits of Blue Cross Blue Shield Health Insurance Company (BCBS) and United Healthcare (UHC).
Costco provides a great benefit to their employees. According to Costco in Canada, “Costco has one of the most competitive benefits packages in the industry. Not only do we provide our employees with a full spectrum of benefits but employees may also elect coverage for their spouse and children” (2016, para7). It shows that the company cares their employees and employees’ families. It can motivate employees to work and have more productivities because family issues can influence their work also it will affect to the
BACKGROUND: The name Wells Fargo is forever linked with the image of a six-horse stagecoach thundering across the American West, loaded with gold. The full history, over more than 160 years, is rich in detail with great events in America’s history. From the Gold Rush to the early 20th Century, through prosperity, depression and war, Wells Fargo earned a reputation of trust due to its attention and loyalty to customers. Wells Fargo delivered business by the fastest means possible whether it was by stagecoach, steamship, railroad, pony rides or telegraph.
1. Based on your quality knowledge, what are the critical factors that accounted to Parker Hannifin's success? What lessons can other companies learn from this case study and Parker Hannifin's success? In my opinion, the most important factor that contribute to Parker Hannifin’s success is their responsibility to their employees and their company.
Valuing individual employees and welcoming a range of viewpoints result in better decision-making and a stronger company. By valuing human diversity and treating each other with respect, they maximize individual contributions, organizational effectiveness, and company success. Through clear communication and flawless execution, our goal is to satisfy every customer in every transaction. Every employee is responsible for effectively managing costs. Financial discipline, even in small matters, helps us meet the expectations of our customers and shareholders.
Abstract Employee engagement is a huge umbrella covering every aspect of human resource management facets. It is vital to address every facet of HR, failing to which may result in mismanagement employee dissatisfaction & employee disengagement. Employee engagement is all about retaining the employees in the organization by adopting certain strategies resulting in job satisfaction, employee commitment and Organizational citizenship behavior. Employee engagement have broader scope, it defines a two way relationship between employer & employee. Better the employee engagement activities & strategies adopted by the organization more emotionally attached are the employees to their organization, resulting into high involvement in the job with greater
Its objective is to retain and promote the best managers possible at every location to best influence the food and the customers positively. A unique method of staffing was enacted at Chipotle. The staffing structure ensured that the hourly employees could be promoted to better and higher paying positions and even into management. This career progression attracted and retained the best human resource talent and provided a motivating and positive career trajectory for lower-tier staff. The ability of managers to reward or withhold tangible and intangible rewards allows for the development of a meritocracy.
Their employees are given the opportunity to work in a nurturing and thriving environment. The leaders of CarMax have put their words into actions for their employees to benefit from. Their efforts have earned respect from the employees as seen in feedback from employees on their website. The employee development and training initiatives are one of the biggest impacts they can have on their employees. “Training and development play a vital role in the effectiveness of an organization” (Falola, Osibanjo, & Ojo 2014).
Introduction SAS, “Statistical Analysis System”, was established at North Carolina State University from 1966 to 1976 by Jim Goodnight (member of faculty), Jim Barr (member of faculty), John Sall (a programmer) and Jane Helwig (Statistics Department employee) because of necessity of analyzing massive amounts of agricultural data collected through United States Department of Agriculture (USDA) grants. They improved a statistical software package to evaluate all the agricultural data. This “Statistical Analysis System” can be regarded as the birth of the name SAS. (Company History, n.d) SAS is the world’s largest privately held software company. SAS software is now used by 90,000 business, government and university sites.
And finally a rewards program can offer employees the opportunity to be recognized for their hard
TERM PAPER ON ORGANIZATIONAL BEHAVIOR TOPIC: JOHNSON & JOHNSON – An Investigation On Its Success BY- RITUPARNA KURMI ROLL NO. 13UMPS13 B.SC 6TH SEMESTER DEPARTMENT OF PSYCHOLOGY JOHNSON & JOHNSON INTRODUCTION Johnson & Johnson is an organization which deals with the manufacture of American multinational medical devices, consumer healthcare packaged goods and pharmaceuticals. It was founded by Robert Wood Johnson with his brothers James Wood Johnson and Edward Mead Johnson in 1886.
We can conclude that research supports the link between work engagement and performance. Employees, who feel vital and strong, are enthusiastic about their work, show better in-role and extra-role performance. Consequently, engaged workers realize better financial results, and have more satisfied clients and customers. 4.4 Studies on the crossover of work engagement Crossover or emotional contagion can be define as the transfer of positive (or negative) experiences from one person to the other (Westman, 2001). Barsade (2002) conducted an innovative laboratory study in which the transfer of moods among people in a group and its influence on performance examined.
Human Relation Management in Tesla Human relation management is a belief that individuals desire to be part of a supportive team that encourages growth and development (Business.com). Human relation management focuses on employee 's feelings, career enrichment, induction procedures, encouragement of teams, stability and motivation. The benefits of human relations management theory are rises in employee productivity, employee consideration, employee recognition, relationship building between employees and managers. Disadvantages are unpredictable workplace conduct, strategies based on behavior in the workplace and one method works for everyone. "Tesla is consciously creating a benefits structure that is different from what other companies
Employee engagement is a workplace approach designed to ensure that employees are committed to your business goals and values. By involving them in your business, you will motivate them to contribute to your business success and at the same time improve their sense of well-being. Employee engagement starts with managers showing a clear and collective commitment to making employee engagement part of business culture. This means sharing information on business plans and performance, making sure you live your business values and seeking views and ideas from employees on how to improve your business.