What do Discretionary Benefits Mean to You | California State University, Northridge

University:
California State University, Northridge
Course:
MGT 380 / Introduction to Human Resource Management
Academic year:

2023
Views:

365

Pages:

1
Author:

ilikemyicons0y5

   Employees often consider what discretionary benefits are available when deciding to work for an employer. Employees often compare what similar organizations offer in terms of employee benefits. Total rewards statements provide personalized data to employees about the compensation and benefits received through their employers (e.g., cost, elections, account balances). Discretionary benefits are those benefits that are not mandated by law. Some people may only see discretionary benefits as beneficial to the employee, but in the long run, but the company and the employee gain from them. Discretionary benefits can help to build positive relationships, boost productivity, offering choices for the best value, and matching competitor’s benefits to remain a choice amongst employees and job seekers. I chose each of the above statements, because I feel very strongly about them and I also have personal experience with these. For the first statement, employees often consider what discretionary benefits are available when deciding to work for an employer, I choose it because this is something I have always done when if and when I was looking for new employment. When looking at a company’s discretionary benefits I want to ensure that they will truly be beneficial to me and my lifestyle as well as how they measure up to the discretionary benefits of another organization. This leads me to the second statement that I chose. When deciding on which company to accept an offer of employment from, my main focus is to compare the benefits and the pay. With the world that we live in today, I always want to ensure that the benefits I receive are the best for me and my family. Many people do not consider the impact that a lack luster benefits program could have on their life, should a major life or medical event occur. I feel that when looking at benefits, especially discretionary, you should always be thinking of the future. For the last statement I choose in regards to the total rewards statements, I find these extremely beneficial. Knowing what my benefits are costing me, my employer, and being able to see exactly what benefits I chose is a reminder when making medical decisions and choices, as well as making decisions about my finances. By receiving the total rewards statements, I feel that there are no surprises when I obtain my paycheck, because I have been given a breakdown of what and how a particular plan will affect me and pay. Some people may only see disc