Retaining skillful, loyal and talented employees should be the priority for any organization (Chabara, 2022). Employees are essential assets to a company’s development because they not only help in the production process and increase the company’s profit but also protect the company from competitors. Factors that Alan should consider before offering employees part-time benefits include budget constraints and considering what the competitors are offering (Donohoe, 2018). Alan understands well that the firm should employ both part-time and full-time employees because the current job market of qualified, loyal and talented CPAs is very competitive. Hiring part-time employees benefits the firm because it prevents the loss of talented employees to competitors. The organization will experience lower turnover rates if employees do not receive a part-time benefit. Alan’s job has a plan of mass recruitment of part-time employees; therefore, introducing part-time benefits to workers attracts massive applications.
The firm should decide whether or not the organization needs to provide part-time benefits to workers; Alan should consider the survey on compensation business done locally and nationally. From the case study, it is clear that companies are already considering part-time benefits for workers; therefore, if Alan does not consider the part-time benefits, they may be triggered to join other companies that offer employee benefits. An organization should consider its employees’ gender and demographic before choosing a given type of benefit. For example, the most practical benefit to offer to an older employee is health insurance coverage and the 401 (k) plan; older employees will have higher benefits than young employees, and ladies should have higher benefits than men, and also, those with health issues should be given a high amount of health insurance cover (Donohoe, 2018). With these factors and the tight budget due to massive employment, Alan should consider offering two types of benefits: health insurance coverage because health is essential to all and the paid-off time if the employees are young.
To conclude, the factors to be considered before providing part-time benefits to employees include the turnover associated with benefits, employee retention, employee satisfaction, organization profit, and attraction of massive applications for part-time employees. Alan should consider part-time benefits for its workers because other firms are already practicing it to reduce losing talented employees to competitors. The part-time benefit to be offered to workers should depend on employee demographics and gender.
References
Charaba, C. (2022). Employee retention: The real cost of losing an employee. PeopleKeep. Web.
Donohoe, A. (2018, November 21). What Is the Meaning of ‘Compensation & Benefits? Bizfluent. Web.