Evaluating Employee Benefits at Forward Style Inc.: Legal Compliance and Impact on Employee Motivation

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Running Head: Employee Policy MemoEmployee Policy MemoTitle:Course Name:Topic Name:Professor’s Name:Student Name:Date:Evaluate the employee benefits program at Forward Style Inc. with respect to legal requirementsand its effectiveness in attracting and retainingemployees. Discuss the benefits that are legallyrequired, those used to attract employees, and how these benefits impact the company’s success.Your answer should address private retirement plans, medical insurance, disability insurance,social insurance, pay for time not worked, stock options, family and medical leave, and childcarebenefits. Provide an analysis of how these benefits contribute to employee motivation andorganizational success.Word Count Requirement:1000-1200 words.

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Running Head: Employee Policy MemoIntroductionHuman resource is oneof the most important sources in every organization.Aninspired ormotivatedworkforce can be amajorfactor in organizational success. Whena workforce of anorganizationarehighlymotivated to work at higher levels ofefficiency, the organization runsmorecompetentlyand is moresuccessfulat reaching itsobjectives andgoals(Welbourne T &Gomez-Mejia LR,1995).Forward Style Inc. is a marketing companyruns with 65 motivatedemployees.Thispaperevaluatingthecompany’srewardsprogramtodetermineiflegalrequirements are being met by the company. Alsotheauthor explainswhichspecificbenefits arelegally required and which benefits are being used to attract employeeswith anexplanation ofhow the offered benefits impact the organization.Private Retirement PlanInanorganization employers have nopermissibleobligation tosuggest privateretirement plansbutin the present timemostoforganizations dothese things.Importantly private retirementplans mustencounter somestandardsregulateby the ERISA thatenhancefiduciaryliabilityofpension plan trustees, establishedportability provisionsandvesting rights, andeffectivelyset upthe Pension Benefit Guarantee(Welbourne T & Gomez-Mejia LR,1995).It presentinga 401kwillfacilitate forattract and retainmainemployees.The companyForward Style hasa goodoption for aflexiblematch that could bejoinedto the organization’splannedcompensationobjectives andfir the contributionreceives taxremovals.Medical InsuranceIn an organization medical insurance is notcompulsoryby law butsomesurveyssignifythatthevalue ofhealth insuranceofemployees coverage only tofinancialcompensation (Riketta M,2002). In an effortretain andattractto majoremployees,organization presentinggroup health

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