The Basics of Employee Benefits. Accounts and programs for flexible spending arrangement. Essay

reduce their labor turnover with a proper training that influences trainees' decision on choosing possible employers. This has improved the productivity levels.
Flexible spending accounts (FSA) which are also known as a flexible spending arrangement. It is a special account that is used to make sure health care payments. This account saves money when used as it is not subjected to tax. Sprint offers its employees two kinds of the FSA. Dependent Care FSA, which is designed for costs for any dependents such as daycare for children. They are limited to $5,000 per year. Healthcare FSA is for out of the pocket expenses such as prescriptions and other similar payments. AT&T help employees to reimburse themselves for money for health concerns. This helps in paying for drugs, ear, and optical fees. Verizon charges its employees $1950 for a person and twice the amount for a family. The FSA funds also are used to get diagnostic devices such as blood sugar test kits.
The cost-benefit analysis involves comparing the result of a particular cause of action with the cost of the action. Sprint developed an efficient IP network which was part of its modernization program. This eliminated satellite transmission which was expensive was some ways. This helped with communication among employees without having to move to different stations. The traveling costs between distant work areas have been cut, and contact has been made easy and efficient. High satisfaction levels of employees prompted by equality encourages an employee to stay in the company.
Verizon saves on costs by taking employees for a thorough and well rounded training program. Employees are then expected to be very competent and of high standards which are critical in productivity. Interactions are boosted by much participation in the programs. The programs help the recruits to share with their trainer and indulge them when there is a problem. Verizon tends to improve its infrastructure and hardware system which encourages employees. This also helps in increasing the efficiency and communication between the employees. AT&T also has a very competitive cost-benefit package. AT&T invests in highly qualified personnel which eliminates the need for training hence little interruption of the operations.
The employee benefit analysis of all three companies in the various capacities shows that they all have merits and demerits. Verizon has the most lucrative benefits package. Verizon is a large company with the variety of offers that is suitable for employees. Verizon is also a good choice as it would enable a recruit to associate with highly qualified personnel who adapt easily hence improving on skills. This shows for a business to be more successful, a company has to be able to recruit and maintain productive and qualified employees. To hire and retain productive employees then there should be an appropriate benefit plan.
Works Cited
"The Basics of Employee Benefits" Entrepreneur. N.p.,2005
https//www.entrepreneur.com/article/80158
"Benefits." Employee. N.p (2014)
http//www.verizon.com/about/careers/benefits
"AT&T Employee Benefit and Perks." Glassdoor. N.p, n.d.
https//www.glassdoor.com/Benefits/AT-and-T-US-Benefits-EI_IE613.0,8_IL.9,11_IN1.htm
"Health Care Options, Using a Flexible Spending account FSA." Healthcare.gov. N.p., n.d.
https//www.healthcare.gov/have-job-based-coverage/flexible-spending-accounts/