Medical and Other Employee Benefits in 2021

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The three important benefits are medical benefits, retirement plan, and employee assistance. These benefits are crucial in the modern world since advancement across different fields has increased life’s unpredictability. Current life is difficult to predict what will happen in the next few minutes, and therefore having a good medical plan for personal and family health is important. One cannot stay young and fresh all day; hence there is a need for a well-planned retirement plan when the day comes; therefore, retirement benefits are important. Finally, there is a need to advance and equip oneself with the modern skills that call for better Employee Assistance compensation. This paper will discuss in-depth why these benefits will retain me as an employee.

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A survey by Gallagher 2020 about benefits strategy and Benchmarking showed that medical benefits to better the employee’s well-being are significant. This was proved during the COVID-19 pandemic that the greatest asset to any employee is good health and general well-being. The pandemic caught up with many people who had to deal with huge hospital bills for themselves or their loved ones, expressing how important a medical benefit was at such times (Mayer, 2020). This has transformed how different employers across the globe usher employees’ medical benefits. Any employer acknowledging that employees’ health and well-being are the greatest asset and expanding the medical help in such hard times of pandemic is worth my time. I would appreciate any employer offering a good healthcare plan and benefits to my family since the modern world requires a better-planned healthcare plan. The COVID-19 pandemic has exposed how limited the world’s mental health care system is despite global health advancements. Along with physical and financial health, mental health is key to any staff, and employers should support and offer the best medical compensation for mental health. A good medical benefit will retain me as an employee in the current wake of pandemics and unknown health problems associated with the modern lifestyle.

The retirement benefit is another major compensation extended to employees in the modern world. Having a good retirement plan is such a crucial factor in retaining and keeping me in an organization. Understanding that not all days I will have the energy and morale to work makes the difference in the 21st century. Planning your future life today is the greatest gift anyone can receive from their employer; hence good retirement benefits are a key factor in the modern workforce. Any employer offering a good retirement plan to their employees shows how much they value their time and efforts invested in the organization. When the labor market gets heated up, employees need somewhere to run and shield what they have earned during their time. Therefore, planning how one’s life will be after one leaves the workforce is crucial. A good retirement plan will retain me as an employee and motivate me to work with any employer since I plan my after-work life.

COVID-19 and its economic effects have shown how key personal development and skills advancement are important. The pandemic significantly affected the workforce, with major shifts in how people work and the skills needed for different positions. This led to laying off employees who were not able to adjust to the changes quickly. This necessitated an employee assistance plan, especially in skills and knowledge advancement, by offering tuition reimbursement. Adding one or more skills is essential for any employee in the modern dynamic world of technologies. This will ensure that all the employees are well equipped with the 21st-century skills needed to adapt to the workforce and relevant to different working conditions. Any employer offering such a well-planned employee assistance plan as tuition reimbursement will retain me since I would like to be equipped with modern, relevant skills. Current technology requires well-skilled personnel hence any employer offering such benefits is the real deal in the workforce.

To conclude this paper, various compensation to employees is significant in many ways. Any employer who values and cares for their staff will provide them with plenty of rewards. As an employee, any firm that offers a great medical benefit is likely to retain me since my well-being and health are the greatest tools in the workforce. Planning my well-being and fitness, I look for a better retirement plan as an employee since I cannot work my entire life. There will come a time when the energy will not be there hence forced to retire. Therefore, it is key to plan the retirement plan, and any employer with such compensation will retain my services. Last, as experienced after the COVID-19 outbreak, having a pool of skills and knowledge is important in modern society. The workforce changed, and different positions were no longer needed while others needed to upgrade their skill set. Any employer offering a great employee assistance plan informing tuition or educational reimbursement will retain me.

Reference

Mayer, K. (2020). Employers to adjust 2021 benefit offerings | HRExecutive.com. Hrexecutive.com. Web.

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BusinessEssay. (2022, September 18). Medical and Other Employee Benefits in 2021. Retrieved from https://business-essay.com/medical-and-other-employee-benefits-in-2021/

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BusinessEssay. (2022, September 18). Medical and Other Employee Benefits in 2021. https://business-essay.com/medical-and-other-employee-benefits-in-2021/

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"Medical and Other Employee Benefits in 2021." BusinessEssay, 18 Sept. 2022, business-essay.com/medical-and-other-employee-benefits-in-2021/.

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BusinessEssay. (2022) 'Medical and Other Employee Benefits in 2021'. 18 September.

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BusinessEssay. 2022. "Medical and Other Employee Benefits in 2021." September 18, 2022. https://business-essay.com/medical-and-other-employee-benefits-in-2021/.

1. BusinessEssay. "Medical and Other Employee Benefits in 2021." September 18, 2022. https://business-essay.com/medical-and-other-employee-benefits-in-2021/.


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BusinessEssay. "Medical and Other Employee Benefits in 2021." September 18, 2022. https://business-essay.com/medical-and-other-employee-benefits-in-2021/.