Apart from monetary compensation, organizations offer several benefits and servi

Question

Apart from monetary compensation, organizations offer several benefits and services to its employees also known as fringe benefits. It might include flexible working hours, lunch and transporting facilities, health insurance, medical services, gym facilities, movie tickets etc.

Benefits or service provided by an organization depends upon the demographics of the employees. For example, the young people would like to avail the services of flexible working hours or gym facilities, whereas the older people would prefer health insurance facilities.

Person from different demographic groups have different needs. For example, some people would prefer flexible working hours as compared to the health insurance facilities. Similarly, some people would prefer lunch and transportation facilities. Therefore, companies need to offer them different services and benefits.

According to the above examples, Which group of individuals would prefer flexible working hours? Which would prefer health insurance? Which would prefer lunch and transportation?

Explanation / Answer

Flexi working hours preference

- Employees who have other commitments like family and married people

- Also young people need to have freedom of work

Health Insurance preference

- Health insurance is preferred by older generation of people but nowadays almost all employees have preference for it

- Person with dependents might have preference

Preference for lunch and transportation

- These facilities are convinience which can improve productivity of employees.

- It is preferred by all types of employees

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