Management concepts
Pay leave refers to the situation where an employee happens to be absent from work but still gets paid. Examples of paid leaves include; sickness, bereavement, if there are some developments being carried out in the office and the legal leave days that every employer is entitled to. However, the management must be very keen when authorizing leave days to the employees since; some employees could be very irresponsible by faking either sickness or bereavement. Leave days should only be granted to the employees only if it is very necessary or if the days are the leave entitlement days. The employees must be trained to be responsible to avoid exploitation at the work place either by the employers or the employees.
Most of the employees and the society members come together and form groups where they can be able to access insurance benefits as a group. It becomes easy for a group of people to access insurance services as the entire group abilities are pooled together thereby; making them stronger and more financially stable. Group insurance covers a group of people. For example, a group of people could come together in order to increase their financial ability for them to purchase a life insurance that could cover them during their entire life time. It is done through payment of premiums. The risks of increased liability since the risks are distributed evenly among the group members.
Retirement plan applies to; employees who would like to be financially stable after their retirement. The employees are allotted finances that are only accessible to them only after the retirement. The employees have the responsibility of paying premiums to the retirement companies. For example, an employee is supposed to identify the retirement company with the help of a financial advisor. The retirement plans creates readiness to the employees, therefore, reduces the worries on the financial survival of the family after retirement. Retirement occurs at different ages depending on, the employees’ preference. Retirement plans help persons become steady in the lives because of, the accomplishments in life with the help of the financial gains.
Family and friendly benefit refers to the gains earned from safeguarding and preferment of domestic time and tenets. Therefore, the family and friendly benefits refer to the gains accrued when one decides to stay close to the family members. It helps them win the families and the friends’ loyalty whenever there is an element of commitment. For example, one might opt to take a leave day so as to create time to be with the family and friends. Consequently, the employers must create a conducive work environment to the employees to enable them strengthen the ties with the family members and friends. The employees hence cannot be rejected in the society since; they create time to bond with the rest besides the work place.
Work-life balance benefit refers to the gains earned when the people are able to strike a sense of balance between work and life. The people must always bear in mind that work without playing makes Jack a dull a boy. It hence, necessitates that people must not only be inclined to the work to make their living. It is encouraged that humans should be social, so, the need ti know what could be happening in the outside world besides work. People are required to surround themselves with all aspects of life without leaving any aspect or overriding on another.
