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Beyend 401 small buisness owners - Jean D.

Jean.D Beyend 401 small buisness owners - Wiley & sons , 2004. - 274 p.
ISBN 0-471-27268
Download (direct link): beyond401korsmallbusinessowners2004.pdf
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_____ We have examined our internal pay structure to make
certain that new hires are not paid more than current employees performing the same job.
We have conducted or examined published salary surveys to learn the pay levels for other employees in similar organizations in our area.
We have developed and communicated our pay philosophy to all employees (e.g., to pay all employees at
30
What Is Important to Employees?
the same level as the top-performing companies in our industry in our area).
_____ We have trained our supervisors and managers what
to say to employees about our pay philosophy, pay levels, and pay increases.
_____ We make certain that the pay increases or bonuses for
our best-performing employees are better than those we give to employees who do not perform as well.
We have disciplined, retrained, or dismissed all poor performers in our organization.
IMPROVING BENEFITS
Work/life balance is very important to employees. The problem is that “balance” means different things to different employees. It can mean:
• Not having to worry about work when I am at home
• Having a flexible work schedule so that I can come in late or leave early when I need to do so
• Setting my own work schedule each week
• Leaving work promptly at 4:30 p.m. every day so that I can pick up my children at day care
• Having enough sick and personal days so that I can take time off when my children need me
• Working part time
• Working from home some or all of the time
• Taking more than four weeks’ vacation each year
In addition to determining what balance means for employees, you must recognize that there are several reasons you cannot always give employees everything that they want:
Benefit Survey Dos and Don’ts
31
• What employees want is too expensive.
• What employees want will negatively impact customer satisfaction.
• Although you might be able to provide some of the desired flexibility to salaried workers, you cannot do the same for customer service or manufacturing employees since they are needed in their work areas at certain times of the day.
• Different employees want different things making it impossible to maintain internal equity in the organization.
HOW TO ASSESS WHAT YOUR EMPLOYEES REALLY WANT
The key is first to understand what employees want and what is important to them. Combining this information with the practical realities of your business, as well as the estimated cost, will help you determine what you can and cannot provide to employees.
A survey of employees can provide you with this information. Here are some important dos and don’ts when conducting an employee benefit survey.
BENEFIT SURVEY DOS AND DON’TS
1. Make certain that the survey is completely confidential and anonymous. If employees feel that their personal preferences will become public knowledge within the company, they will be very reluctant to participate.
2. Use a benefit survey professional. Keeping the survey anonymous may require you to use a consultant who
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What Is Important to Employees?
can design, analyze, and interpret the results for you. Be certain to use a survey research consultant, not a benefit consultant who will try to sell a particular benefit program to you.
3. Do your homework first. It is better to have a general idea of what benefit and work/family options might be available to employees before you construct the survey. Ask employees what specific trade-offs they would be willing to make regarding health care deductible amounts, required copayments, and the amount of money that would be taken out of their paychecks to help pay for the plan.
4. Try to get input from all employees. If only half or fewer respond to the survey, you will not be able to rely on the results. You still will not really know how employees feel about their benefits and what is most important
to them.
5. Do not just develop a list of possible benefits and ask employees if they are interested in any of them. Virtually all employees will say that they want all of the possible benefits that you have listed. This will not be very helpful.
6. Ask how well employees understand their current benefits. This information is often confusing to employees. By asking them how well they understand any documents or memos they have received, you can learn how best to improve your communications.
7. Ask employees how satisfied they are with their current benefits. Table 3.2 shows an example of a simple questionnaire that will provide the answer when you collate the results of all of your employees’ responses.
Benefit Survey Dos and Don’ts 33
Table 3.2 Benefit Satisfaction Questionnaire
Please circle the number that best expresses your satisfaction/dissatisfaction with each benefit:
Insurance Very Dissatisfied Dissatisfied Partly Satisfied/ Dissatisfied Satisfied Very Satisfied
Medical 1 2 3 4 5
Dental 1 2 3 4 5
Life 1 2 3 4 5
8. Ask employees what benefit is most important to them. Use ranking items to determine employees’ preferences. For example:
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