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South Asian Research Journal of Business and Management (SARJBM)
Volume-3 | Issue-06
Review Article
Employees Benefits and Organizational Growth: Theoretical Perspective
Achukwu Nchey Gabriel, Amah, Edwinah, Okocha, Belemenanya Friday
Published : Nov. 21, 2021
DOI : 10.36346/sarjbm.2021.v03i06.003
Abstract
This study tends to highlight the influence of employees benefits on the organizational growth. The objective or goal of every business organization is to grow and expand; management for centuries has been looking for that best way to make organization grow. To this end, this paper seeks to find, if employees benefits such as medical allowance, life insurance, disability and retirement benefits will do that magic. This study adopted a survey of literature from past scholars for relevant informationsourced through classified publications, reports, journals and majorly through internet surfing as secondary data for qualitative analyses. It was concluded that benefits are of great importance to the individual employee’s performance and organizational efficiencies. Organizations use benefits and other incentives not only to retain their core employees and avoid the associated cost of employee turnover, but to refrain employees from being enticed by the competitors. With the current globalized economy, employee’s benefits and other incentives are veritable instruments adopted by many organizations towards competitive advantage as a motivated workforce is a catalyst to increased productivity and optimal organizational performance. The study recommendsamongst others that benefit schemes should be designed with articulated strategies to be embedded into the organizational policy, seek employees opinions when reviewing benefits and introduce appropriate and commensurate benefits into workers’ total emolument packages to encourage and motivated them towards increased productivity to the overall growth of the firm.

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