The Employee Total Compensation Program - 1163 Words

The employee total compensation program in Aflac is competitive with the industry market for the employees (Reed, 2009, p. 3). First, the company has a program referred to as a â€Å"Total rewards program† for the employees of this organization (p. 3). Next, the focus of the Aflac organization derives from the importance on employees through communication (p. 3). To illustrate, the company’s benefits include compensation such as life insurance paid for by Aflac, policy for cancer paid for by Aflac, insurance for protecting accidents at a low premium for employees, and programs that provides bonuses based on profit-sharing (pp. 4,6). In addition, the organization provides a leadership program to develop employees at all levels within the†¦show more content†¦3). The external weakness include the lower than average of unemployment rate of 3.3 percent that creates challenges to retain competitive employees to meet the shareholder expectations (p. 3). The cha llenges of an organization can influence the performance of an organization from a satisfaction with pay (Gomez-Mejia, Balkin, Cardy, 2016, p. 296). The employee salary within an organization is a huge cause for turnover of employees (p. 296). First, the topic of employee salary is of great importance for the current and potential workforce (Lee Lin, 2014, p. 1577). In addition, employees that have the perception on receiving lower compensation that others within their market will lack in performance and have a desire to leave the organization (p. 1577). In retrospect, the regular evaluation of compensation within the organization is vital to the reduction of employee turnover (p. 1577). Traditional and Non-Traditional Rewards The use of traditional rewards within the organization rewards that are apparent within Aflac. The use of the traditional rewards systems are the compensation, profit sharing, and insurance profited to employees (Reed, 2009, pp. 3-5). The non-traditional rewards in the Aflac organization are the child care facility, employee recognition, outdoor adventure days, fitness facilities, and professional development for the employeesShow MoreRelatedThe Employee Total Compensation Program1162 Words   |  5 Pagesor Services to Enhance Total Compensation for Employees The employee total compensation program in Aflac is competitive with the industry market for the employees (Reed, 2009, p. 3). First, the company has a program referred to as a â€Å"Total rewards program† for the employees of this organization (p. 3). Next, the focus of the Aflac organization derives from the importance of employees through communication (p. 3). To illustrate, the company’s benefits include compensation, such as life insuranceRead MoreAn Effective Total Rewards Program For Increase Profitability1723 Words   |  7 PagesOrganizations that use a salesforce to help promote its business for increase profitability are challenged to develop a compensation plan that aligns the company’s overall goals. A sales compensation plan is more than a tactical focus, but it is a strategic focus for an organization to that enables the company to remain competitive in the business industry (Thoreson, 2014). State Farm was founded in 1922 by G.J. Merchele, as an auto insurance company. Today, it is one of the leading providers ofRead MoreNew And Improved Rewards At Work. Creating And Implementing1534 Words   |  7 PagesCreating and implementing new and improved rewards systems at work has been a tool of success for many organizations. Corporations use these rewards to boost employee morale and to allow their employees â€Å"me time†. 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