Asked by Kassi Stolz on Jul 11, 2024
Verified
What is an advantage of providing benefits instead of cash compensation?
A) It is simpler to pay compensation in benefits than in cash.
B) Benefits give greater control to employees over cash compensation.
C) All companies that provide benefits become eligible for tax breaks by state and federal agencies.
D) Younger employees place more importance on benefits than cash compensation.
E) Employers can assemble creative benefits packages that give them a competitive advantage.
Cash Compensation
Refers to money paid to employees for their work, including wages, salaries, bonuses, and commissions.
Tax Breaks
Financial incentives or reductions in tax payments provided to individuals or businesses by the government.
Creative Benefits
Innovative and non-traditional employee perks designed to improve satisfaction and loyalty, such as flexible working hours or wellness programs.
- Catalog various employee perks and elucidate on their merits for both staff members and business proprietors.
- Analyze the strategic importance of benefits for attracting and retaining employees.
Verified Answer
NB
Nurshazwana bt mohamad rajnikaniJul 12, 2024
Final Answer :
E
Explanation :
Employers can assemble creative benefits packages that give them a competitive advantage. Providing benefits can differentiate a company from its competitors and attract and retain employees. Cash compensation, on the other hand, is more standardized and can be easily compared between companies. Creative benefits packages can include things like flexible scheduling, telecommuting options, gym memberships, and professional development opportunities, which can appeal to a wide range of employees.
Learning Objectives
- Catalog various employee perks and elucidate on their merits for both staff members and business proprietors.
- Analyze the strategic importance of benefits for attracting and retaining employees.