While pay is certainly an important consideration for employees, other benefits included within compensation packages allow organizations to attract and retain top talent. In Chapter 6.4, (Links to an external site.) our authors discuss benefits and services made available to employees. Although some of these benefits are mandated by the federal government, voluntary benefits set organizations apart and have the potential to create a work environment that is effective, conducive to creativity, and rewarding for its employees. In the 12 Companies With The Most Luxurious Employee Perks (Money.com (Links to an external site.)) article, extraordinary voluntary benefits offered by some employers are described. One theme that emerges among these benefits is employee comfort and considerations for work-life balance.
In this week’s group activity, please collaborate and create a concept map using Lucidchart that identifies benefits that are mandated by law and those that are voluntarily offered to employees. View, edit, and collaborate in the document to create a thorough mind map. Your concept map should include at least three required (government mandated) and five voluntary benefits.
Select the Example Concept Map to view an example of a Mandatory and Voluntary Benefits concept map.