Effective human resource management requires innovation and out-of-the-box thinking in all areas, including the implementation of benefit strategies. I was at lunch with a business associate last week who left a less than satisfying career in the insurance industry for a company that offers an interesting strategy for compensating employees by way of vacation benefit packages. This reminded me about the philosophy that centers on the idea that a happy employee is more productive and healthier than one who is dissatisfied. Furthermore, it is increasingly the case that employees who accrue vacation benefits are less able than ever to afford to utilize the time to take the family away to relax.
This vacation benefit program my friend now enjoys costs the employer less than $250 per employee per year and it enables the staff to choose from a myriad of deeply discounted vacation packages. If the employer agrees to pay a small portion to employees who use one of the packages, employees will inevitably associate family togetherness and personal growth with the workplace. It is difficult to quantify the positive effects of such a strategy, but as other benefits grow cost prohibitive and are forcibly discarded, innovation becomes necessary for success.
These employee benefit strategies, everything from work incentives to vacation programs, can be implemented and administered by a human resource management company like Axiom HRS. Strategic HRM ensures your company’s goals are met, while also meeting the needs of your employees.