American airlines are some of the busiest in the world. This is simply because America is one of the most visited places in the world, thus there is need for efficient and reliable airlines. There are both international and regional airlines (Leary 1992). For instance, Delta Airline is one of the most renowned international airlines globally while ExpressJet Airline and JetBlue Airways Corporation are more of regional airlines. These are not the only celebrated airlines as there are many more in the industry; all in the name of delivering quality services to the customers. In this cut throat business, one needs to stand out from the crowd to survive. It is those small details that make the difference in the industry. It goes without saying that a motivated work force will deliver high quality work, be more effective, and efficient. Companies fight to keep their best employees in order to help them achieve their set goals and objectives (Smith, Jerald & Peggy 2001 pg.50).
Companies have come up with lucrative compensation packages for their employees. Though these compensation packages and benefits are alike in many companies, the companies with better financial foundations tend to offer more. The three main categories of compensation are health and wellness compensation, financial compensation, and lifestyle compensation. Lifestyle compensation is a rare program to come across and this is mostly found on the international airlines (Fojt 2006). Almost every airline has its financial compensation ranging from savings plan, profit sharing plan, reward program, to credit union membership. In savings plan also known as the 401(k), the company helps its employees to save through contributing a certain percentage of the eligible pay. Profit sharing and reward sharing plans are mostly enjoyed after fulfilling the goals and objectives of the company.
This said and done, there is a slight difference as to how the two are administered. In profit sharing plan, this is mostly realistic after a financial year, while a reward plan can be monthly, based on the ultimate achievement of companies’ goals. In health and wellness plan, the company helps to cover the cost of medical care for the employees and some of their close relatives. This is also a common plan in most of the airline companies as it represents the welfare of their most prized assets; the employees. For instance, Delta Airline Company have a very renowned health and wellness plan (Jones 2003). They include medical coverage, dental coverage, vision coverage, life insurance and employee assistance program which focuses on one’s wellbeing. In addition, they also have domestic partner health care programs which include dental, medical and vision. Smaller companies do not provide something as comprehensive as this, although they mostly have a majority of the aforementioned.
The third form of compensation is the lifestyle plan. In this plan, the employees are able to enjoy paid vacation, holiday and personal time. They also enjoy free and reduced travel rates. Mostly, this also caters for the eligible family members. Many companies also offer their employees discounts for any services or products obtained from within the company. Some companies may offer their employees matching gifts to education program. For example, Delta Airline offers its employees this kind of plan that totals to $2000 a year (Jones 2003). This will enable the employees be more competitive in the industry. It is wise to note that these plans are different depending on the various companies. These plans have gone a long way in helping companies achieve their long term success. Companies that offer the most lucrative deals are able to retain workers and also get the best out of them (Smith, Jerald & Peggy 2001 pg.50). In this cut throat kind of business it is the art of recognizing and working upon the small details that matters and determine how far you go.
Works Cited
Fojt, Martin. The airline industry. Bradford, England: Emerald Group Pub., 2006. Print.
Jones, Geoff. Delta Air Lines: 75 years of airline excellence. Charleston, S.C.: Arcadia Pub., 2003. Print.
Leary, William M.. The Airline industry. New York: Facts on File, 1992. Print.
Smith, Jerald R., and Peggy A. Golden. Airline: A Strategic Management Simulation. 4th rev. ed. New Jersey: Pearson Higher Education, 2001. Print.
