Aflac Case Srudy

Aflac Insurance
Student’s Name
Institutional Affiliation
Aflac Insurance
The paper is based on a case study about Aflac Insurance human resource practice and examines how the company uses total rewards to support the organizations' missions and values and achieve strategic outcomes. In particular the paper will address the following areas: First, how the company uses its own products or services to enhance the total compensation for its employees. Second, examines the internal and external strengths and weaknesses and how the the company responded to these factors from a total rewards perspective. Third, highlights the traditional and non-traditional rewards and how they are used to meet organizational objectives. Fourth, highlights how the company aligns its benefits with its corporate values; and lastly, suggesting recommendations regarding an expansion of the benefits programs offered at the company that would further align HR with the accomplishment of organizational goals and values.
Aflac seemed to have mastered the art of motivating and offering total compensation by using their own products and services. According to Casey Graves, the vice president of communication who heads the compensation and benefits programs at Aflac, using the company’s products and services as employees’ total rewards, not only motivates their working sprit, but also boost the company’s outcomes (Reed, 2009). The company has effected this strategy through the following methods. One the method is providing Aflac free products to the employees. For example, the company have gone to en extent of offering employer-paid life insurance, paid-cancer packages as well as subsidized accident protection insurance (Reed, 2009). Another method is by providing total compensation in relation with employees’ philanthropic actions. For instance, the company has a reward package known as Volunteer of the Month,” in which the employees are rewarded for the voluntary time they spent with the company (Reed, 2009). The company has the idea of treating the health care cost containment as both an employer and employee shared responsibility in its overall philosophy (Reed, 2009). In other words, the company offers total rewards or compensation in a cost-effective manner while honoring the concept of employees’ service (Reed, 2009). The bottom line of this strategies is to improve employees’ satisfaction, provide opportunities for professional development and supporting organizational initiatives in a bid to seek the company’s profitability, company stability as well as creating an effective working environment (Reed, 2009).
Like any other Aflac has both internal and external and weakness, which the company has responded to from a total rewards perspective (Reed, 2009). The internal strength includes, the company’s ability to create a good working conditions, engraved philosophy and realistic mission. The philosophy states that “Aflac has believed that the best way to succeed in our business is to value people. Treating employees with care, dignity and fairness are founding principles of Aflac.” For example, the company has affected the philosophy through total rewards programs such as directly providing Aflac products to the employees for free as well as training and mentoring employees to develop the employees for their next career level (Reed, 2009). In relation to its mission, Aflac has successfully achieved its mission of incorporating strategic marketing with quality products and services at competitive prices to provide the best insurance value for consumers by using their own employees as ambassadors who endorses their own products and services to the market (Reed, 2009).
Aflac’s external strengths include strong brand recognition, which has given the company a comp...