Chapter Name

Benefits Of HRM
Group Members

S.N. ID Name
01 1811033139 Md. Abdullah Al-Rafi
02 1611133207 Rakibul Islam
03 1810833207 Rahad
04 1811133204 Shatirtho Sarker
05 1810333111 Kabbya Das Papon
06 1811133129 Md. Parvez Hossain
07 1810733193 Parvez Hossain Prince
08 1811033201 Mahmud Zibryl Saimum
09 1810733122 Nur Salam
10 1810333185 Md. Rashed Rahman
1. Introduction: International Perspectives on Human Resource Management
In any comprehensive discussion of Human Resource Management (HRM), the introduction
serves as the foundation upon which the entire chapter is built. When examining HRM from
an international perspective, it becomes vital to establish a contextual framework that
transcends borders and encapsulates the global nature of HRM practices. This introduction
provides a holistic overview of what international students and HR professionals can expect to
explore within the chapter.
Key Components of the Introduction:
1. Globalization and the HRM Landscape: The introduction sets the stage by
highlighting the significance of globalization in reshaping the field of HRM. It
acknowledges that today's organizations operate in an increasingly interconnected
world, which necessitates HRM to adapt and evolve to effectively manage the diverse
workforce dynamics that span multiple countries and cultures.
2. Customization and Adaptation: It underscores the central theme of customization and
adaptation. In the international context, HRM is not a one-size-fits-all approach.
Instead, it is the ability to tailor HRM practices to meet the unique requirements of each
region, factoring in cultural nuances, legal variations, and market dynamics.
3. The Role of International Students: As international students, this introduction
acknowledges our role as global learners and future HR professionals. It emphasizes
the relevance of understanding HRM practices in different contexts and how it broadens
our perspective and equips us to navigate the complexities of managing a global
workforce.
4. Setting the Chapter's Scope: The introduction also serves to delineate the scope of
the chapter. It hints at the topics and concepts that will be explored, including the
definition of benefits, types of benefits, skill-based pay, job-based pay, forms of
benefits and services in Bangladesh, objectives for both employees and managers, and
future benefit plans.
Purpose of the Introduction:
The purpose of this introduction is to prepare readers, including international students, HR
professionals, and anyone interested in HRM, for a comprehensive exploration of HRM from
a global viewpoint, with a specific focus on Bangladesh. By establishing the global context and
the principles that guide HRM, readers are better equipped to delve into the subsequent sections
of the chapter with a solid understanding of the overarching concepts and their relevance in a
diverse and interconnected world.
2. Definition of Benefits
The term benefits are an indispensable part of today's competitive Human Resource
Management. Different authors have defined the term benefits in different ways. Some of the
definitions are given below:
Dave Ulrich: Benefits are a wide range of non-monetary rewards that organizations provide to
their employees.
Decenzo and Robbins: Today's workers expect more than just an hourly wage or a salary from
their employer; they want additional considerations that will enrich their lives. These
considerations in an employment setting are called employee benefits,
Gary Dessler: Benefits are indirect financial payments given to employees. They may include
health and life insurance, vacation, pension, and education plans.
Ivancevich and Konopaske: Employee benefits comprise non-wage compensations that
organizations provide to their employees. These include health insurance, paid time off,
retirement plans, and various other perquisites intended to enhance the employee's overall well-
being.
Susan E. Jackson and Randall S. Schuler: Employee benefits encompass the assortment of
rewards and advantages provided by employers to attract, retain, and motivate employees.
These rewards extend beyond monetary compensation and include elements like healthcare
coverage, paid leave, and professional development opportunities.
Mathis and Jackson: Benefits refer to the non-wage forms of compensation that organizations
offer to their employees. These encompass various programs, such as health and wellness
initiatives, retirement plans, and work-life balance accommodations.
Milkovich and Newman: Employee benefits encompass the diverse array of non-monetary
forms of compensation provided to employees. These rewards serve multiple purposes,
including enhancing employee well-being, incentivizing performance, and ensuring
compliance with labour laws and regulations.
D.J. Cherington: In addition to their regular wages or salaries, employees receive
supplemental rewards that are part of the employment exchange. These supplement rewards
are referred to as employee benefits.
A.A. Sloane: Benefits may be defined as remuneration from the employer to the employee
beyond wage or salary.
Dale Yoder: Benefits are the supplementary hidden costs of the employers which are given to
employees.
Werther and Davis: Benefits are indirect compensation, which are usually extended as a
condition of employment and are not directly related to performance.
C.D Fisher, L.F Schoenfeldt and J.B Shaw: Some mandatory programs pay for time not
worked, optional protection, private retirement plans and a wide variety of other services
known as rewards.
3. Types of Benefits
In the realm of Human Resource Management (HRM), the concept of benefits extends beyond
a singular monolithic idea. Instead, it is a multifaceted landscape, rich with diverse categories
of incentives and rewards provided to employees. This section dives into the different types of
benefits, exploring the categories that organizations in Bangladesh and the international context
offer to enhance employee well-being and job satisfaction.

3.1 Monetary Benefits

• Basic Salary: The fixed monthly basic pay that forms the core of compensation.
Minimum salary in Bangladesh is Tk. 8000 per month.
• Allowances: Additional payments for specific expenses such as house rent, medical,
phone, travel etc. Common in Bangladesh.
• Bonuses: Performance, festival or profit-sharing bonuses given annually or bi-annually.
Prevalent across sectors.
3.2 Voluntary Benefits
• Savings & Investments: Employer matched retirement savings, employee share
purchase schemes to promote financial security. Offered by some multinationals and
banks.
3.3 Retirement Benefits
• Pension Plans: Monthly post-retirement payouts as per defined benefit schemes.
Common for government jobs.
• Provident Funds: Lumpsum payout from employer-employee contributed corpus.
Mandatory for organizations with over 100 employees.
• Gratuity: Lumpsum amount paid on retirement based on tenure and last salary.
Mandatory benefit.
3.4 Time-Off Benefits
• Leaves: Paid leaves for holidays, annual leave, sick leave, maternity leave as per
Bangladesh Labour Act.
• Flexible Work: Options like remote work, flexi hours, and part time work to help work-
life balance. Offered by some companies.
3.5 Healthcare Benefits
• Medical Insurance: Comprehensive insurance covering hospitalization, critical illness,
OPD, maternity etc. Supported by progressive companies.
• Free Medical Check-ups: Annual or bi-annual check-ups, vaccination drives arranged
by some organizations.
3.6 Other Fringe Benefits
• Concessional Loans: For needs like housing, vehicle at lower interest rate.
• Discounted Services: Some companies offer discounted accommodation, food or
transportation services.
• Recreation & Social: Gyms, clubs, sports facilities, family & cultural events organized
for employees.

4. Skill-Based Pay and Job-Based Pay

In the realm of compensation strategies, organizations in Bangladesh, like many international
counterparts, often employ skill-based pay and job-based pay structures to remunerate their
employees.
4.1 Skill-Based Pay:
Skill-based pay, also known as competency-based pay, is a compensation system that rewards
employees for the acquisition and application of specific skills or competencies. In Bangladesh,
particularly in industries like information technology and manufacturing, this approach is
gaining prominence. Employees who develop new skills or enhance existing ones are often
entitled to additional compensation, recognizing their contributions to the organization.
For instance, consider a software development company in Dhaka. They implement a skill-
based pay structure where programmers who attain certifications in cutting-edge programming
languages or technologies receive incremental salary increases. This not only motivates
employees to enhance their skill set but also aligns the organization's talent with the evolving
industry requirements.
4.2 Job-Based Pay:
Conversely, job-based pay, also referred to as position-based pay, is a compensation system
where employees are remunerated based on their job roles and responsibilities. It is a traditional
approach widely adopted by organizations in Bangladesh, where job descriptions and
hierarchies play a significant role in determining salaries.
For instance, in a Bangladeshi banking institution, employees in various roles, such as tellers,
customer service representatives, and branch managers, receive salaries based on their
designated positions. The focus here is on job evaluation, where factors like job complexity,
required skills, and experience are considered in determining compensation
4.3 Key differences between skill-based pay and job-based pay:
Aspects skill-based pay job-based pay
Basis of Compensation Skills and Competencies of Specific Job Roles and
the Employee Responsibilities
Pay is determined by the Pay is determined by the job
employee's skills and position, considering factors
Pay Structure competencies. like job responsibilities,
experience, and market rates
for that position.
Flexibility Offers more flexibility, as Less flexible, as pay is
employees can earn more by largely tied to the job
acquiring new skills or position, and pay increases
certifications. are often based on
performance within that role.
Employee Motivation Encourages employees to Motivates employees to
continuously develop their excel in their specific job
skills and stay updated, roles but may not promote
leading to higher motivation broad skill development.
and personal growth.
Adapting to Change Well-suited for industries or Well-suited for roles with
roles with rapidly changing stable skill requirements or
skill requirements. industries with less frequent
skill changes.
Cost of Implementation Can be more complex and Simpler and more cost-
costly to implement and effective to implement, as it
administer, as it requires skill relies on established job
assessment and tracking. positions and market data for
pay determination.
Organizational Needs Can help organizations adapt Suitable for organizations
to changing market demands with stable job roles and less
by quickly aligning frequent changes in skill
employees' skills with new requirements.
requirements.
Employee Satisfaction Often leads to higher Employee satisfaction may
employee satisfaction due to vary, as pay increases are
the potential for increased more tied to job promotions
pay based on skill or performance within the
development. existing role.
5. Forms of Benefits and Services in Bangladesh
In the intricate world of Human Resource Management (HRM) within Bangladesh, the
provision of benefits and services to employees goes beyond traditional compensation. It
encompasses a wide array of offerings designed to enhance the well-being and job satisfaction
of the workforce. Let's explore some of the prominent forms of benefits and services in the
context of Bangladesh.
Monetary Benefits
Monetary benefits refer to direct financial compensation and allowances provided to
employees. The basic salary forms the core component of monetary benefits. Bangladesh has
set the minimum wage at Tk. 8,000 per month across sectors. Beyond basic pay, additional
allowances are common for expenses like house rent, medical, phone and travel. Many
companies also provide yearly bonuses like two festival bonuses and performance incentives.
Other monetary benefits include retirement plans like gratuity and pension schemes.
• Basic Salary
• Allowances (House rent, medical, phone, travel etc)
• Bonuses (Festival, performance etc),
• Gratuity,
• Pension Plans
Healthcare Benefits
Healthcare benefits provide employees access to medical services, insurance and other
facilities. Many progressive companies now offer comprehensive medical insurance covering
hospitalization, critical illness, maternity needs and outpatient expenses. Some also conduct
free annual health check-ups and vaccination camps. The premiums for group health policies
are often paid or subsidized by the employer. Maternity benefits like paid leave and medical
expenses are mandated by Bangladesh Labour Laws.
• Medical Services & Insurance
• Group Health Insurance Premiums
• Maternity Benefit
Work-Life Balance Benefits
Work-life balance benefits give employees time off from work and promote recreational
activities. This includes paid leave for holidays, annual leave, sick and maternity leave as per
policies. Some companies allow flexible work arrangements like remote work, flexible hours
and part-time schedules. Recreational facilities like gym memberships, sports clubs, family fun
days help employees unwind. These benefits improve employee satisfaction and retention.
• Paid Leave Benefits
• Recreational Facilities
• Flexible Work Options
Retirement and Job Security Benefits
Benefits that promote long-term financial security even after retirement and during
unemployment are highly valued. Laws mandate provident fund, gratuity and group insurance
for organizations with over 100 employees. Some companies also provide pensions or
retirement savings plans. Unemployment allowances help separated employees cope with
temporary joblessness. These benefits reduce employee worries about the future.
• Provident Funds
• Retirement Plans & Pensions
• Unemployment Allowances
Other Fringe Benefits
Some other extra facilities companies provide for employee convenience and satisfaction can
be classified as fringe benefits. For example - housing facilities, transportation, subsidized
meals, utility expenses, education fee allowances for children, membership fee reimbursements
and discounted services. While not core compensation, these benefits add to the overall appeal
of the job.
• Housing Facilities
• Transportation & Conveyance
• Education Allowances
• Utility Subsidies
• Membership Fees
• Discounted Services
• Other Allowances (lunch, mobile etc)
6. Objectives of Benefits for Employees and Managers in Bangladesh
In the dynamic landscape of Human Resource Management (HRM) in Bangladesh, the
provision of employee benefits serves a multitude of objectives, catering to the needs and
expectations of both employees and managers. Understanding these objectives is essential for
international students and HR professionals to navigate the complex world of benefits in this
context.
6.1 Objectives for Employees:
• Enhanced Job Satisfaction: One of the primary objectives of employee benefits in
Bangladesh is to enhance job satisfaction. By offering a comprehensive package that
includes healthcare, retirement plans, and non-monetary perks, employers aim to create
a work environment where employees feel valued and content.
For example, a textile company in Dhaka may provide its employees with regular health check-
ups and access to on-site fitness facilities. This not only promotes physical well-being but also
contributes to job satisfaction.
• Financial Security: Employee benefits, such as retirement and pension plans, aim to
provide financial security for employees and their families. These programs ensure that
employees have a safety net after retirement, reducing financial stress.
A multinational bank in Bangladesh might offer its employees a robust pension plan, which
includes contributions from both the employer and the employee, ensuring financial security
in their post-retirement years.
• Career Growth and Skill Development: Many employees in Bangladesh view
education and training opportunities as a key objective of benefits. These programs
enable career growth and skill development, aligning with the aspirations of a dynamic
workforce.
Consider a telecommunications company in Bangladesh that provides employees with the
chance to participate in industry-related workshops and training programs. This empowers
employees to keep pace with technological advancements and enhances their career prospects.
6.2 Objectives for Managers:
Talent Attraction and Retention: From a managerial perspective, one of the primary
objectives of offering benefits is to attract and retain top talent. In the competitive job market
of Bangladesh, a comprehensive benefits package can be a significant differentiator.
A technology startup in Dhaka may emphasize its benefits package, including stock options,
as a way to attract skilled software engineers and developers.
Employee Productivity and Well-being: Managers seek to enhance employee productivity
and well-being through benefits that promote health and work-life balance. Healthy and
satisfied employees are more likely to perform at their best.
An e-commerce platform in Bangladesh may provide employees with flexible working hours
and the option to work remotely, contributing to work-life balance and overall productivity.
Legal Compliance and Risk Mitigation: Managers also consider the legal compliance aspect
of benefits. Ensuring that employee benefits align with local labor laws and regulations is
essential to mitigate legal risks and protect the organization's reputation.
A multinational manufacturing company operating in Bangladesh would have legal experts on
its HR team to ensure that all employee benefits, including health and safety regulations, are in
line with local laws.
Understanding these objectives from both the employee and managerial perspectives offers a
holistic view of the significance and impact of benefits in the context of Bangladesh. It
highlights the role of HRM in balancing the needs of a diverse workforce while addressing the
strategic goals of organizations operating in this dynamic market.
7. Future Benefit Plans for Employees in Bangladesh
In the ever-evolving landscape of Human Resource Management (HRM) in Bangladesh,
anticipation of future trends and demands is crucial for organizations looking to remain
competitive and attract top talent. This section will explore the potential benefit plans and
trends that organizations operating in Bangladesh may consider to meet the needs of their
workforce.
7.1 Digital Transformation and Flexible Benefits:
As Bangladesh embraces digital transformation, organizations are likely to offer flexible
benefits to cater to a tech-savvy workforce. This may include digital wellness programs, virtual
healthcare consultations, and the option for employees to customize their benefit packages
according to their preferences.
For instance, a progressive IT firm in Dhaka may provide employees with a digital platform to
select and manage their benefits, including healthcare plans, education allowances, and
lifestyle perks, all through a user-friendly app.
7.2 Remote Work and Hybrid Models:
The experience of the COVID-19 pandemic has accelerated the adoption of remote work in
Bangladesh. As a result, organizations may adapt their benefits to accommodate this shift. This
could involve offering remote work allowances, home office stipends, and benefits tailored to
remote employees' needs, such as virtual team-building activities and mental health support.
Consider a multinational consulting company in Bangladesh that introduces a remote work
benefit package, allowing employees to access high-speed internet support and ergonomic
office furniture to enhance their work-from-home experience.
7.3 Employee Well-being Initiatives:
The importance of employee well-being is expected to grow. Companies in Bangladesh may
place a stronger emphasis on well-being initiatives, including mental health support, stress
management programs, and access to wellness apps or platforms. The objective is to create a
healthier and more engaged workforce.
For example, a Bangladeshi pharmaceutical company might collaborate with mental health
professionals to offer confidential counseling services to employees, promoting emotional
well-being.

7.4 Sustainability and Green Benefits:

In a world increasingly focused on sustainability, organizations in Bangladesh may introduce
green benefits. These could include incentives for eco-friendly commuting, carbon footprint
reduction programs, and initiatives to support environmental causes. Employees who engage
in sustainable practices may be rewarded for their efforts.
A textile manufacturing company in Bangladesh might encourage its workforce to use public
transportation or carpool to reduce carbon emissions and contribute to a greener environment,
with benefits such as transportation subsidies or eco-friendly office spaces.
7.5 Holistic Health and Family Support:
Benefit plans may also evolve to address holistic health and family needs. Organizations might
provide comprehensive health coverage for employees' family members, extended parental
leave, and childcare support.
A multinational bank in Bangladesh could expand its family support benefits by offering
flexible parental leave policies, on-site childcare facilities, and resources for family planning
and child education.
Adapting to these future benefit plans aligns with the changing dynamics of the Bangladeshi
workforce and the global trends that influence HRM practices. As organizations strive to
remain competitive in the job market, the ability to envision and implement forward-thinking
benefit packages will be essential in attracting and retaining talent in Bangladesh.

8. Examples of Fringe Benefits in Bangladesh

Fringe benefits, often referred to as "perks" or "extras," play a pivotal role in attracting and
retaining employees in Bangladesh. These supplementary benefits go beyond the traditional
monetary compensation and contribute significantly to job satisfaction. In this section, we'll
explore some specific examples of fringe benefits commonly offered by organizations in
Bangladesh.
8.1 Housing Allowances:
In Bangladesh, housing allowances are a valuable fringe benefit, particularly in urban areas
with high living costs. Many organizations provide employees with financial assistance to
cover a portion of their housing expenses. For instance, a multinational corporation based in
Dhaka might offer a monthly housing allowance to employees working in the capital city to
alleviate the burden of high rents.
8.2 Transportation Facilities:
Transportation benefits are essential in a country where commuting can be challenging due to
traffic congestion and limited public transportation options. Companies may provide
employees with transportation facilities, including company-arranged buses, shuttle services,
or transportation subsidies. This not only eases the daily commute but also contributes to
punctuality and employee well-being.
For instance, a manufacturing plant in Chittagong might operate a fleet of company buses to
transport employees to and from work, ensuring they arrive on time and safely.
8.3 Meal Allowances:
Meal allowances are a popular fringe benefit in Bangladesh. Some organizations offer daily or
monthly allowances for meals, either as part of an overall compensation package or as an
additional perk. Employees receive funds to cover their lunch and sometimes dinner expenses.
Consider a call center in Dhaka that provides meal allowances as a part of its employee benefits
package. This ensures that employees have access to quality meals during their work shifts,
enhancing their job satisfaction.
8.4 Health and Wellness Programs:
Health and wellness programs are increasingly becoming essential fringe benefits. These
programs can include on-site gyms, fitness classes, stress management workshops, and access
to wellness apps or platforms. In a country where health and well-being are highly valued, such
benefits are well-received.
A leading pharmaceutical company in Bangladesh might offer employees an on-site fitness
center with personalized fitness training programs, encouraging a healthier and more active
lifestyle.
8.5 Employee Discounts and Shopping Benefits:
Employee discounts and shopping benefits are particularly attractive in a consumer-driven
society like Bangladesh. Many organizations partner with local retailers and service providers
to offer discounts and special deals to their employees. This not only improves employee
satisfaction but also strengthens the bond between the organization and its staff.
For example, a retail chain with stores across Bangladesh may extend employee discounts on
their products, enabling staff to access quality goods at more affordable prices.
These examples of fringe benefits illustrate how organizations in Bangladesh creatively tailor
their offerings to cater to the specific needs and expectations of their employees. Understanding
the role of fringe benefits in the local context is crucial for HR professionals and international
students seeking to navigate the intricacies of HRM in Bangladesh.

9. Principles for Employee Benefits Administration

1. Genuine Interest: Benefits must be provided out of a genuine interest for employee
wellbeing, not as a matter of legislation or charity. Companies globally now realize
benefits improve retention.
2. Satisfying Real Needs: Benefits should address actual employee needs, not what
employers presume workers want. Regular surveys by HR help identify needs like
childcare or elderly care support.
3. Cost Effectiveness: The costs of benefits must provide good return on investment in
terms of higher productivity and retention. HR analysts track metrics like cost per hire
to evaluate spending.
4. Broad Accessibility: Maximum employees should be eligible for core benefits without
discrimination. Guidelines from the International Labour Organization promote
equitable benefit norms.
5. Sound Planning: Benefits planning should have clearly defined objectives, costs, roll-
out plans and measures of success. Global companies use data analytics to forecast
utilization and costs.
6. Consultation with Employees: Feedback from employees, surveys and collective
bargaining provides insight into desired benefits. Multinationals like Unilever have
joint management-worker committees on compensation.
7. Convenient Processes: The process to avail benefits should be convenient for
employees and not bureaucratic. Some companies offer self-service HR portals to
manage benefits.
 8. Effective Communication: Employees should be made aware of all available benefits
and procedures through training, manuals and counselors. Lack of awareness is a
common problem in Bangladesh.
9. Localization: While global frameworks provide guidelines, benefits should be
localized to address country-specific needs. For instance, benefits focusing on health
and retirement work in aging Western societies.
10. Regular Evaluation: Periodic audits of utilization, costs and ROI should be done to
evaluate existing benefits and identify new ones. Companies use analytics tools to get
insights.

10. Principles of Fringe Benefits in Bangladesh

In the realm of Human Resource Management (HRM) in Bangladesh, the design and
implementation of fringe benefits are guided by a set of principles that not only reflect the local
culture but also align with international best practices. These principles help organizations
create well-rounded benefit packages that cater to the diverse needs and expectations of their
employees.
10.1 Equity and Fairness:
One of the fundamental principles of fringe benefits in Bangladesh is equity and fairness.
Employees expect that benefits are distributed fairly and without discrimination. This principle
ensures that all employees, regardless of their role or background, have access to similar
benefits.
For example, a Bangladeshi technology company may offer the same healthcare benefits to
both entry-level employees and senior executives, ensuring fairness in benefit distribution.
10.2 Legal Compliance:
Adherence to labor laws and regulations is a non-negotiable principle for fringe benefits in
Bangladesh. Companies must ensure that their benefit packages comply with local laws to
avoid legal disputes and maintain their reputation.
For instance, a textile manufacturer in Bangladesh will closely follow labor laws and safety
regulations to provide employees with benefits such as appropriate safety gear and health
insurance as required by law.
10.3 Flexibility and Customization:
Flexibility and customization are key principles, as employees in Bangladesh have diverse
needs. Benefit packages should allow for some level of customization, enabling employees to
select benefits that best align with their individual circumstances.
A multinational bank operating in Bangladesh might provide a range of options within their
benefit plan, allowing employees to choose from various healthcare packages and additional
benefits to suit their preferences and family requirements.
10.4 Cost-Effectiveness:
Balancing the cost of providing fringe benefits with the financial sustainability of the
organization is a crucial principle. While organizations aim to provide competitive benefits,
they must do so in a financially responsible manner.
For example, a fast-growing e-commerce startup in Bangladesh may periodically review its
benefit offerings to ensure they remain competitive while managing costs effectively.
10.5 Communication and Transparency:
Effective communication and transparency are essential principles to ensure that employees
are aware of the benefits available to them. Clear and transparent communication about benefits
helps employees understand what they are entitled to and how to access these benefits.
A telecommunications company in Bangladesh may maintain an accessible intranet platform
that provides employees with detailed information about their benefits, including how to utilize
them and any changes in the benefits structure.
These principles serve as the foundation for creating fringe benefit packages that not only meet
the needs of the workforce but also align with the cultural values and legal requirements in
Bangladesh. Organizations that uphold these principles effectively can attract and retain top
talent while fostering a positive work environment in this dynamic and diverse market.

11. Employee Engagement and Recognition Programs:

Employee engagement and recognition programs are an integral part of HRM in Bangladesh.
These programs are designed to foster a positive work environment, boost morale, and
recognize employees' contributions. They may include employee of the month awards,
appreciation events, and team-building activities.
For instance, a large telecommunications company in Bangladesh might organize monthly
recognition events to acknowledge outstanding employees and encourage their continued
commitment and engagement.
12. Family-Centric Benefits and Work-Life Balance:
Family-centric benefits and work-life balance initiatives are becoming increasingly relevant in
Bangladesh's HRM landscape. These benefits are aimed at supporting employees in managing
their family responsibilities while maintaining a healthy work-life balance. They can include
extended parental leave, flexible work arrangements, and family-friendly policies.
For example, a prominent bank in Bangladesh may offer extended parental leave and flexible
working hours to help employees balance their professional responsibilities with their roles as
caregivers, reflecting the organization's commitment to supporting families and work-life
balance.
EXERCISE
Answer briefly the following items :
1. Define employee benefits and explain their significance in modern Human Resource
Management.
2. Differentiate between monetary and non-monetary benefits, providing examples of
each.
3. How does skill-based pay differ from job-based pay in terms of compensation and
motivation?
4. List and briefly explain the principles that guide the design and implementation of
fringe benefits in HRM.
5. Describe the concept of family-centric benefits and their relevance in promoting work-
life balance.
6. How does globalization impact HRM and the diversity of employee benefits?
7. Provide examples of benefits offered by organizations in Bangladesh to attract and
retain talent.
8. Explain the importance of equity and fairness in the distribution of employee benefits.
9. How do employee benefits contribute to employee engagement and recognition within
an organization?
10. Elaborate on the concept of cost-effectiveness in benefit design and administration.
Broad Questions (5):
1. Discuss the evolution of employee benefits in HRM and their role in creating a
competitive advantage for organizations.
2. Compare and contrast the advantages and disadvantages of skill-based pay and job-
based pay for organizations and employees.
3. How can organizations in Bangladesh adapt their benefit packages to address the
changing dynamics of the workforce, considering globalization and technological
advancements?
4. Explore the legal compliance aspect of employee benefits in HRM, with a focus on the
labor laws and regulations in Bangladesh.
5. Explain the concept of customization and adaptation in the context of fringe benefits
and how they align with organizational strategies.
Mini Case Study:
Title: Enhancing Employee Well-being at Chocos Corporation
Case Description: Chocos Corporation, a leading technology company in Bangladesh, is
experiencing challenges in retaining top talent. The competitive job market and the dynamic
nature of the tech industry have raised concerns about employee turnover. The HR department
is tasked with enhancing employee well-being to address these issues.
Case Study Questions:
1. How can XYZ Corporation utilize skill-based pay to attract and retain tech
professionals in a competitive job market? Provide specific recommendations.
2. Explain how a well-designed family-centric benefits package can contribute to
improved employee retention and work-life balance at XYZ Corporation.
3. In the context of globalization, how can XYZ Corporation ensure that its employee
benefits remain adaptable and competitive for a diverse workforce with varying needs
and expectations?