Research Paper on "Compensations and Benefits at the American Sugar Refining Company"

Research Paper 4 pages (1285 words) Sources: 5

[EXCERPT] . . . .

This in return gives them a chance to devote much of their time to work, the results of which is increased productivity. The fact that they feel proud, and part of the company fraternity makes them work for longer hours without complaining, all to the benefit of the company management.

Secondly, at the American Sugar Refining Company, there is a reported low turnover rates. This is attributed to the high level of employee satisfaction that results from this. The company has always been keen on attracting and retaining talent in the company. As part of the overall strategy, employee welfare ranks among the top priorities in the company. The company also encourages the workers to take part in the paid overtime by assigning higher payment rates. Because of this, the company gains in terms of increased yields while the employees gain in terms of pay (Worrall, 2010). This is an optimal tradeoff.

The other advantage that the employees gain is the absence of much absenteeism among the workers. Employees normally give excuses in order to absent themselves if they are not getting what they need from employers. In order to prevent this unfortunate phenomenon, managers have ensured that there are sufficient compensations and benefits to them. The management of this sugar company has been witnessing negligible levels of absenteeism from work as compared to most other corporate entities. This is attributed to the company's policy towards employees.

Main factors influencing Compensation and Benefits

The factors that influence the issue of compensation and benefits to employees can be divided into two as external and internal factors. The internal factors include the organizational culture, business objectives as well the influence of labor unions. At the sugar company, the business objective is "to attain optimal performance through customer satisfaction." It is stated clearly that customer satisfaction is a crucial part of operations. This has guided the company to achieving such great heights. The workers' union influences the manner in which employees are treated. The association that brings together the employees of the company has been pushing for the proper treatment of the workers. This contributed to the company making effort of pleasing them has to some extent.

External factors influencing the company's adoption of employee treatment packages include the status of the economy, inflation, unemployment and the labor law. Most labor laws in America that have been formulated in the recent past are pro-employees. They favor the preservation and protection of the welfare of employees at all instances. Recently, employers are expected to give their employees paid leave at least once in a year (Caulfield, 2010). The law also dictates that there should be a prior notice before termination of service. These laws have influenced the way in which the company approached the issue of employees. For instance, at the sugar company employees are given a three months notice before termination of their service where need be. They are also given a mandatory two weeks paid leave annually. All these have made the company look appealing to the many employees and the many potential ones out there. It is also a benefit to the company since the best brains are attracted to the company.

References

Caswell, Barbara W. Workmen's Compensation Benefits in Kentucky,. Frankfort, Ky.: Legislative Research Commission, 2011. Print

Caulfield, Norman. NAFTA and Labor in North America. Urbana: U. Of Illinois, 2010. Print.

Chiswick, Barry R., and Michael E. Hurst. The Employment, Unemployment and Unemployment Compensation Benefits of Immigrants. Bonn: Forschungsinst. Zur Zukunft Der Arbeit. 2013. Print.

Gabe, Thomas, and Eugene Henry Falk. Welfare Reform Implications for Work and Welfare, the Role of Work Incentives and Work Requirement. Washington, D.C.: Congressional Research Service, Library of Congress, 2014. Print.

Worrall, John D. Workers' Compensation Benefits: Adequacy, Equity, and Efficiency. Ithaca, NY: ILR, New York… READ MORE

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