The Effect Of Innovative Benefits And Services

The Effect Of Innovative Benefits And Services On Employee Retention Essay, Research Paper WEBSTER UNIVERSITY GRADUATE SCHOOL THE EFFECT OF INNOVATIVE BENEFITS AND SERVICES ON EMPLOYEE RETENTION AT SAS INSTITUTE, INC. by A paper presented to the Graduate School of Webster University in partial fulfillment of the requirements for the degree of Master of Arts July 26, 2000 Pope Airforce Base, NC Abstract Employee benefits programs are crucial to the recruitment and retention of employees in any industry. Effective programs enable employees to better cope with the demands of home and the workplace. These same policies can also contribute to lower employee turnover rates, retention of qualified employees, and motivation of workers. The computer industry has become the leader not

only in technology and business, but also in the need for technically qualified employees. This personnel demand and the strength of the economy have created a job market in which skilled individuals are difficult to retain. SAS Institute Inc., based in Cary, NC has successfully created a corporate work environment that has significantly benefited the company, and placed SAS as one of the most desirable companies to work for in the US. Table of Contents 1. Overview??????.?????????????????????.?Page 4, Paragraph 1 2. Demand for competent employees in today?s economy??????????..Page 4, Paragraph 2 3. How benefits and services falls fits in HR model?????????????Page 5, Paragraph 1-2 4. Human Resource department responsibilities a. Recruitment????????????????????.?.????.Page 5,

Paragraph 2 b. Retention????????????????..??Page 5, Paragraph 3-Page 6, Paragraph 3 c. Compensation???????????????????????..?.Page 6, Paragraph 4 d. Corporate Culture???????????????????????..Page 6, Paragraph 5 5. The SAS Institute: a. Background?????????????????????.????..Page 7, Paragraph 1 b. Comparison of benefits study by Albertson?????????????.Page 7, Paragraph 2 6. SAS Benefits: a. Child care facility??????????????????????….Page 8, Paragraph 2 b. Medical Clinic????????????????????????.Page 8, Paragraph 3 c. 35-hour work week??????????????????????.Page 9, Paragraph 1 d. Fitness facility????????????????????????Page 9, Paragraph 2 e. Cafeteria??????????????????????????..Page 9, Paragraph 3 f. Ergonomics?????????????????????????.Page 10, Paragraph 1 g. Vacation/sick

days??????????????????????..Page 10, Paragraph 2 7. Comparison to similar companies???????????..??????…Page 11, Paragraph 4 8. SAS Awards and other recognition?????????????????…Page 12, Paragraph 2 List of Tables/Appendices 1. Table of company comparison???????????????????…Page 12 2. Data extract: Study of benefits and working conditions among manufacturers?APPENDIX A In the computer industry, as in any industry, companies are always striving to attract and retain skilled, loyal employees. In today?s thriving economy, this task has become a challenge for some companies. Skilled workers have become free agents who can invest their human capital in the companies of their choice. The Human Resources department is at the forefront of this challenge, tackling recruitment,

retention, compensation, and contributing to corporate culture. SAS Institute Inc. is a software manufacturing company that has recently risen to the top in both business and financial success, and also in employee retention rates. SAS?s innovative approach to treatment of its employees has made the company an example of how an effective employee benefits program can reap rewards in many aspects of the business. The list of employee benefits and new-age perks is striking. A recent survey was conducted (see Appendix A), in which the benefits and working conditions among manufacturers were compared. SAS Institute provides better benefits at a significantly higher percentage than most companies, (Albertson, 2000). Although competitive companies offer similar benefits and services,