Discretionary benefits are employee benefits that employees enjoy in their organization, company, or institution but are not mandated by law. It is upon the employer to decide the discretionary benefits their employees can enjoy; they include healthcare insurance, vacation leave, sick leave, and pension plans. I consider three significant discretionary benefits essential to me, sick leave, pension plan, and healthcare insurance. Snell and Morris 2019 opined that sick leave is a discretionary benefit that an employee is paid time off work; it is beneficial to the employee and the employer. Paying an employee during sick leave helps them find time to seek medication and take downtime for self-care and healing. It is essential because I can be sick anytime; I can stick to an employer who offers sick leave benefits.
Also, the pension plan is important to me as employees are rewarded for a long time of service they have served in an organization after retiring. The returns and profits that all organization registers result from employees’ hard work; therefore, the service provided should be rewarded as one retires (Stoddard-Dare et al., 2021). Therefore, working with an employer who recognizes a pension plan is very important as it helps the employee work diligently until retirement. It also helps cushion the landing of the aged retiree in the complex life if one had not invested well. I like it because I will not struggle after retiring but rather enjoy the fruits of my hard work.
Finally, health insurance is another discretionary benefit that I render essential; it helps cover the cost of an employee’s medical and surgical expenses. Several employers have considered offering this benefit to their employees together with their immediate family members. It is essential as the employer, the insurer, provides the facility responsible for the employee’s condition. I consider it necessary because the medication is the worst thing that has exhausted people’s money and rendered them poor; this is what can make retain me as an employee in my working place.
Stoddard-Dare, P., DeRigne, L., Collins, C., & Quinn, L. (2021). Retirement savings among US older adult male workers by paid sick leave, flexible work, and vacation benefit status. Community, Work & Family, 24(4), 357-373.
Snell, S. A., & Morris, S. S. (2019). Managing Human Resources 18th ed.
PEER 2- LV
When it comes to Discretionary Benefits it can simply be described as: ” which the law does not require the employer to provide these benefits could included the following: physical health, mental health ,and substance abuse ,prescription drugs, an employee and their family dental vision insurance ,life insurance , a pension plan ,tuition assistance and childcare payment assistant (Martin ,2019). Most people might only see discretionary benefits has beneficial to the employee which can benefit both the company and the employees. Discretionary Benefits can be helping build positivity, boost productivity, offering choices for the best value I said this because these have played a major role in my job when I was a Department Manager at Walmart. Working for Walmart was a plus because they had benefits from health insurance to 401k plans most jobs these day don’t offer any benefits. The three most important benefits to me would be Healthcare/ Dental Insurance, Childcare Payment and Tuition Assistance.
Healthcare / Dental Insurance is important because with United States having the highest healthcare cost it’s important to have coverage and also be able to afford the coverage as well. This ties into Walmart because when I was working there they had Health/ Dental Insurance which was a major help because if those it comes out your paycheck it was on $20 every paycheck which isn’t bad. Walmart also have it where they would help pay for their employees to continue their education which is a very good thing and it also can help out parents finically I think that most jobs should consider the Childcare Assistant Payment because this would help out tremendously for parents that are having trouble placing their kids into daycare.
References: Stoddard-Dare, P., DeRigne, L., Collins, C., & Quinn, L. (2021). Retirement savings among US older adult male workers by paid sick leave, flexible work, and vacation benefit status. Community, Work & Family, 24(4), 357-373.
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