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What are the components of discretionary benefits? Provide two examples for each component of discretionary benefits and identify an organization that effectively includes those benefits in its benefits portfolio.

Discretionary benefits are employment benefits that employers offer to their employees. These benefits are not mandated by law to be offered by the companies to their employees. There are three categories of these types of benefits: protection programs, paid time off and services. Offering these types of benefits to employees can help to promote employee retention, productivity, and employees to have a positive relationship with their employers. An example of protection programs would be disability and life insurance and retirement benefits. These types of benefits can be costly for a company, but can be helpful in employee retention, obtaining strong job candidates in the hiring process and having employees be loyal employees. An example of paid time off would be vacation time and paid sick time. Paid time off allows employees to have a better work/life balance and helps to increase morale. An example of services would be tuition reimbursement, employee assistance programs (EAP), and outplacement counselling. These services can help an employee grow in their career, help with personal struggles, and work situations, and assist them if they are part of a reduction in force. An example of an employer who effectively includes these benefits is Medtronic, where I work. Medtronic offers competitive salaries and bonuses, employee stock purchase programs, Paid time off and flex time, health insurance, life insurance, disability insurances, transportation support, adoption support, and retailer discounts. They also offer 401K

and a robust employee assistance program, and health programs.

Sources: stormka, P. author B., & *, N. (2021, February 20). Discretionary Benefits. Compensation Management Blog. https://blogs.oregonstate.edu/mgmt449blog/2021/02/20/discretionarybenefits/. Bortolus, D. (2019, February 11). Typical Employee Benefit Package. Bizfluent. https://bizfluent.com/about-6547812-typical-employee-benefit-package.html. Medtronic. (n.d.). Compensation & Benefits. Medtronic. https://www.medtronic.com/usen/about/careers/culture/compensation-benefits.html....