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

An assignment analyzing employee benefit structures and their legal implications.

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    Running Head: Employee Policy Memo Employee Policy Memo Title: Course Name: Topic Name: Professor’s Name: Student Name: Date: Evaluate the employee benefits program at Forward Style Inc. with respect to legal requirements and its effectiveness in attracting and retaining employees. Discuss the benefits that are legally required, 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 childcare benefits. Provide an analysis of how these benefits contribute to employee motivation and organizational success. Word Count Requirement: 1000 - 1200 words.

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    Running Head: Employee Policy Memo Introduction H uman resource is one of the most important sources in every organization. A n inspired or motivated workforce can be a major factor in organizational success. When a workforce of an organization are highly motivated to work at higher levels of efficiency , the organization runs more competently and is more successful at reaching its objectives and goals ( Welbourne T & Gomez - Mejia L R , 1995 ) . Forward Style Inc. is a marketing company runs with 65 motivated employees. Th is paper evaluating the company’s rewards program to determine if legal requirements are being met by the company . Also the author explains which specific benefits are legally required and which benefits are being used to attract employees with an explana tion of how the offered benefits impact the organization. Private Retirement Plan In an organization e mployers have no permissible obligation to suggest private retirement plans but in the present time most of organizations do these things . Importantly p rivate retirement plans must encounter some standards regulate by the ERISA that enhance fiduciary liability of pension plan trustees, established portability provisions and vesting rights, and effectively set up the Pension Benefit Guarant ee ( Welbourne T & Gomez - Mejia L R , 1995 ) . It presenting a 401k will facilitate for attract and retain main employees. The company Forward Style has a good option for a flexible match that could be joined to the organization’s planned compensation objectives and fir the contribution receives tax removal s. Medical Insurance In an organization m edical insurance is not compulsory by law but some surveys signify that the value of health insurance of employees coverage only to financial compensation ( Riketta M , 2002 ). In an effort retain and attract to major employees, organization presenting group health

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