Total Rewards Benefits

Total Rewards Benefits

Companies offer total rewards benefit packages to enhance the ability to attract and retain talent. However, this can lead to unfair treatment of some employees (Reynolds, 2020). As a result, some benefits are dictated by the federal and state government for all employees. Even though many laws tend to be common across states, there are cases where different states have different laws regarding total rewards benefits. For this task, two benefits mandated by the federal government and two benefits mandated by the state of Tennessee are provided. In the federal government’s case, social security and Medicare benefits are identified. The federal Social Security program offers employees benefits related to disability, retirement, and survival. For this reason, the federal government requires employers to hold a portion of their employee’s income and pay an equal amount as a benefit for the employees (Kojic, 2020). On the part of Medicare, the federal government requires employers to match a certain portion of their employees and pay to the Medicare program. Notably, this benefits all eligible employees composed of people aged 65 and above and employees with disability.

My state, Tennessee, has a workers’ compensation benefits law. The law provides that employers should compensate workers for injuries they suffer while performing their duties. For instance, an employer should pay temporary and permanent disability benefits to workers with a disability during work. The state of Tennessee also requires employers to give their workers a paid leave benefit. Notably, this law requires employers to offer their workers at least three paid sick leave days (Blanck, 2020). This law ensures that employees’ welfare is protected even when they are out of work due to sickness, and no job loss risk is involved.

References

Blanck, P. (2020). Disability inclusive employment and the accommodation principle: emerging issues in research, policy, and law. Journal of Occupational Rehabilitation, 30, 505-510.

Kojic, M. (2020). How to make an employee compensation plan. Clockify.

Reynolds, S. (2019). Non-monetary compensation explained. salary.com

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The primary reason companies offer total rewards benefit packages is an increased ability to recruit/retain top talent. However, federal and state law also dictates mandated benefits not related to wages.
Describe at least two benefits/rewards mandated by federal law. Describe at least two benefits/rewards required by the laws in your state.
In response to your peers, add any benefits/rewards that may have not been included in the federal or state law section list and explain how those benefits impact employees’ overall rewards/benefits package.