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The benefit programs in a company are critical for attracting new talents as well as motivating and retaining existing staffs.

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Introduction

Executive summary The benefit programs in a company are critical for attracting new talents as well as motivating and retaining existing staffs, and they should be in harmony with the company's strategic business objectives and culture. The purpose of this report is to review some of the current employee benefit programs in Philips Electronics Singapore, identify the related problems and make recommendations to better align the benefit programs with organization's strategic business objectives. The HR department collected staffs' feedback on employee benefits through online surveys and opinions contributed by managers of all levels. Based on the data collected, four issues are found to be the major concerns of both general employees and managers as they get most attentions and rank highest on priority chart. In response to staffs' request and suggestions, this report will focus on following four issues: tuition refunds, flexible work schedule, gym membership, and holidays with family. All these four issues have been practicing by Philips Singapore since a few years back. However, both employees and HR feel that it is necessary to make some adjustment to the current practices to better serve the demands arising from the changing society. From the standpoint of a HRM director, the recommendations tackling abovementioned issues are made with consideration of cost-effectiveness and company's long term competitive advantages. Tuition fees can be refunded partially or fully based on individual's situation and eligibility, and similar method applied to flexible work schedule; gym membership ...read more.

Middle

Philips Singapore has launched Flexitime scheme a few years back. The official work time in Philips Singapore starts from 8:30am and ends at 6:00pm. Under the Flexitime scheme, employees are allowed to select a starting time within 8:30 to 10:00am, and the ending time will be delayed accordingly to maintain a 8.8 hours per day and 44 hours per week work schedule. Ever since the Flexitime introduced, it is very much welcomed by employees. However, some new demands are arising with the change of time. Many married employees need to take half or one hour off in the afternoon to pick up theirs children home from school. And those employees taking part-time course wish to knock off a bit earlier to catch their evening courses. And during the examination period, they wish to have more time to prepare their exams. Even though Philips Singapore grants every employee taking part-time courses two days of exam leave, they feel that they need a few more days for preparation. 2.2.2 Recommendations for issue of flexible work schedule In consideration of employees' demand for an extension of current Flexitime scheme, care is taken to not affect company's normal operation. An extended Flexitime and a Variable Week scheme are recommended. Under the scheme of extended Flexitime, employees are allowed to take no more than one hour off in the afternoon to pick up their children home from school, provided that they don't have any urgent works or projects on hand, and they must satisfy the 8.8 work hours per day requirement. ...read more.

Conclusion

With each issue has been sufficiently discussed, recommendations are given at the end to meet the changing demand. 4. Recommendations Recommendations are made with consideration of cost-effectiveness and company's long term competitive advantages. Tuition fees can be refunded partially or fully based on individual's eligibility and willingness to serve bond; an extended Flexitime and Variable weeks are introduced with terms applied to meet the demand for flexible schedule; gym membership will be subsidized however the amount will be based on seniority; holidays with family will be greatly supported in coherence with Singapore government's call for a pro-family employer. Reference list Andrew J Sherman, 1998, Mergers and Acquisitions from A to Z, AMACOM Div American Mgmt Assn. Armstrong, M (1996), Personnel management practice, Sixth Edition, London: Kogan Page Ltd Shaw and V. Blewett, 'Telling tales: OHS and organizational culture', Journal of Occupational Health and Safety Compensation and Benefits - work family balance, Retrieved: Sep 25, 2005, from http://www.monsanto.com/monsanto/layout/careers/benefits/benefitsus4.asp Employee Benefits - The Importance of Attracting and Retaining Good Employees, Organizational Dynamics, Retrieved: Sep 25, 2005, from http://www.pncbank.com/smbiz/0,3810,447,00.html H.G. Heneman III, T.A. Judge and R.L. Heneman Information from the website of Ministry of Manpower, Singapore, Retrieved: Sep 25, 2005, from http://www.mom.gov.sg L. Thornburg, 'Change comes slowly', HR Magazine, February 1994. P. Bassat, 2000, 'Logged on', HR Monthly Raymond J Stone, 2005, Human Resource Management, John Wiley & Sons Australia ?? ?? ?? ?? 1 HRM ASSIGNMENT 2 XXX 02 May 2006 Student No: XXXXXXXX ...read more.

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