Introduction
Companies often offer their employees comprehensive benefit packages with total compensation to attract and retain top talent in the labor market. But more than business strategy is the reason for such offers. Federal and state legislation in the US also defines a list of mandatory benefits and rewards that companies must provide to their employees.
Benefits Ensured at the Federal Level
One of the primary benefits mandated by federal law is a comprehensive health insurance package. Companies with more than 50 employees must provide their employees with insurance for illness or injury. This benefit can be desirable to employees, as the cost of health insurance can be high. In addition, federal law also requires companies to provide maternity and parental leave to help working parents balance their careers and family life.
State-Based Benefits
The Ohio state legislation also sets specific compulsory benefits for employers. One of them is the benefit of unemployment. Companies must pay contributions to the state unemployment fund, allowing employees to receive benefits in the event of dismissal (Pulakos & Battista, 2020). Additionally, Ohio requires employers to provide certain occupational safety benefits, including safety training and personal protective equipment, to protect workers from work-related injuries and illnesses.
Another essential benefit prescribed by Ohio legislation is overtime pay (Pulakos & Battista, 2020). Employees working overtime must receive additional compensation for their efforts in accordance with established legislative norms. This benefit may be attractive to employees who want to earn more or to those who often work overtime. Moreover, employers in Ohio are also required to provide paid leave during the year.
Conclusion
Thus, federal and state legislation in the US establishes certain mandatory benefits and rewards for companies unrelated to wages. Companies must provide their employees with health insurance, maternity, and parental leave, unemployment benefits, safety training and personal protective equipment, overtime pay, and paid vacation. These benefits and rewards can help companies attract and retain the best talent who value work-life balance and ensure the safety and protection of workers in the workplace.
Reference
Pulakos, E., & Battista, M. (2020). Performance management transformation: Lessons learned and next steps. Oxford University Press.