Geico Case Study Essay Example | Topics and Well Written Essays - 1250 words

Geico Case Study - Essay Example Of a lot number of benefits, even few elements shall bring, aspirants, home about the benefits they can enjoy. Health and well being, that is in itself a complete program, is a well designed plan for its associates. The well being and health of the full time associate is covered 360 degrees making it perfect set of benefits. Education and training program, with, GEICO, is a lifelong learning opportunity that cares for career development coupled with trainings, tuition reimbursements and even family scholarships. Finance and retirement benefits are reinforced by astounding plan of profit sharing and variety of plans with over 20 investment options. For holidays and other leaves GEICO provides a plan that can help contentment for its associates. Similarly, family and life program and other perquisites along with a bunch of amenities are a great convenience. At GEICO the notion that family requirements should be understood to create affinity among the company and the associate is a way to integrate its associate well. The dependents of associates are also cared for and numbers of programs have been formed for the purpose. In these programs, long term care insurance plan, adoption assistance, associate assistance program are few that need a mention. Under associate assistance program GEICO provides up to three phone and/or in-person counseling sessions without any cost. AAP also includes work-life balance programs, baby welcome program, day care and elder care referrals, counseling for stress, anxiety and depression, and financial counseling, aid during crisis situation and legal consultation. To evaluate such perks are not only important for integrating its associates with the company, but also to make them realize that the relationship is symbiotic. In this paper a comparison of GEICO Total Rewards Program is being made with top advantages of Total Rewards program. Total Rewards program is now, known as an integrated part of HR best practices with a view of emplo yee retention and satisfaction. The World-at-Work Handbook of Compensation, Benefits & Total Rewards by John Wiley is perhaps a definitive guide to compensation and benefits from modern HR professionals. In accordance with the best practices, the management must be vigilant enough to attract, motivate and retain quality employees. This manual provides for an indispensable method to make HR professionals comprehend and implement Total Rewards concept (Bus.iastate.edu). GEICO plan in comparison to Total Rewards Program: In Total Rewards program organizational culture, business strategy and Human Resource strategy are key players that shape overall planning, initiated through this program. It includes above mentioned plans that primarily attract, motivate and retain employees. It is an employee centric program that causes satisfaction and dedication only for the purpose of better business and performance results. It can be seen from the offers under this GEICO Total Rewards Plan that t he initiative is more likely to achieve â€Å"benchmark and standards of Total Rewards Plan†. They are far sighting and can be termed as closer to an excellent level (Awlp.org). To analyze the program, let us see the advantages that are important for an organization to maintain its integrity and lead: No single element is left isolated, meaning that all elements are taken care of, yet certain â€Å"elements are prioritized†