Employee Benefits on AT&T, Sprint, and Verizon
Your project must be submitted as a Word document (.docx, .doc)*. Your project will be individually graded by your instructor and therefore will take up to a few weeks to grade.
Be sure that each of your files contains the following information:
Your name
Your student ID number
The exam number
Your email address
To submit your graded project, follow these steps:
Log in to your student portal.
Click on Take Exam next to the lesson you’re working on.
Find the exam number for your project at the top of the Project Upload page.
Follow the instructions provided to complete your exam.
Be sure to keep a backup copy of any files you submit to the school!
Procedure
Your assignment is to evaluate the benefit packages of three similar companies: AT&T, Sprint, and Verizon. Which, in your opinion, offers the most comprehensive benefit package, and why? Compare each company’s history and demographics as well as the employee benefits it offers. Your report should include evidence (such as financials, employee turnover rate, benefit cost, and so on) to support why the company you selected has the best “Complete Benefit Package.”
Goal
Your goal for this assignment is to apply what you’ve learned about employee benefits in this course. Use this research assignment to practice identifying and evaluating benefit packages commonly found in the marketplace.
Writing Guidelines
Type your submission, double-spaced, in a standard print font, size 12. Use a standard document format with 1-inch margins. (Do not use any fancy or cursive fonts.)
Include the following information at the top of your paper:
Name and address
Student number
Course title and number (Employee Benefits: HRM 320)
Research project number (35281600)
Read the assignment carefully and address the issue suggested.
Be specific. Limit your submission to the topic or issues mentioned.
Include a reference page that lists websites, journals, and any other references used in preparing the submission.
Proofread your work carefully. Check for correct spelling, grammar, punctuation, and capitalization.
Grading Criteria
Your project will be based on the following criteria:
◼ Content 80%
◼ Written communication 15%
◼ Format 5%
Here’s a brief explanation of each of these points.
Content
The student
Provides a clear discussion of the assigned topic or issue
Addresses the subject in complete sentences, not just simple yes or no statements
Supports his or her opinion by citing specific information from the references used
Stays focused on the assigned issues
Writes in his or her own words, and uses quotation marks to indicate direct quotations
Written Communication
The student
Includes an introductory paragraph, a body, and a concluding paragraph
Uses correct grammar, spelling, punctuation, and sentence structure
Provides clear organization by using words like first, however, on the other hand, and so on, consequently, since, next, and when
Makes sure the paper contains no typographical errors
Format
The student’s paper is double-spaced and typed in font size 12. It includes the student’s
Name and address
Student number
Course title and number (Employee Benefits: HRM 320)
Research assignment number (35281600)
Employee Benefits
Name
Student Number
Employee Benefits: HRM 320
Research Project Number: 35281600
E-Mail Address
Employee Benefits
Human resources are an indispensable part for business success. For this reason, companies are keen to treat workers with the kind of care they treat finances, materials, or information resources (Stalmasekova et al., 2017). One of the major tasks of the human resources management is employee motivation through rewards that may include both monetary and non-monetary rewards. Non-monetary rewards are the employee benefits an employer extends to the workers. Employee benefits constitute a large percentage of operational costs incurred in many sectors and individual businesses. Nevertheless, these benefits are critical in realizing organizational goals, maintaining a thriving organizational climate, and snowballing positive attitudes and wellbeing (Galanaki, 2019). Companies such as AT&T offer many welfare and retirement benefits for their employees and is one of the reasons for success in business. There are many factors that impact on its overall performance, including production processes, economic issues, capital, and employees (Stalmasekova et al., 2017). Many employers have made efforts to not only reward workers with a salary, but also provide them with employee benefits to motivate them and improve performance. This report provides an analysis of employee benefits at AT&T Inc., Sprint, and Verizon in the telecommunication sector.
AT&T Inc.,
Many American workers, such as AT&T employees enroll in health insurance which is partly funded by their employer. In this case, companies pay a significant fraction of the health premiums for their workers. The contributions made towards these benefits are tax-free for workers and tax deductible for employers. Employees at AT&T benefit from health, vision and dental plans (Payscale, 2022a). Besides, the company offers their workers group life insurance, short- and long-term disability insurance, and death benefits covering specific causes of demise. Retirement plans fully funded by AT&T are critical to ensure workers have a dependable income after retirement. At the company, employees also have defined benefit pension plans and contribution pension plans. While defined benefit retirement plan pays workers a fixed sum after retirement, defined contribution retirement plan are designed to help workers save or invest for their retirement. The most popular benefits for employees at AT&T Inc. include paid holidays or vacations, paid sick leaves, life insurance/disability, education/training/tuition/certification reimbursement, casual dress/atmosphere, and cell phones. Apart from the defined benefit pension plan and defined contribution pension plan, other retirement and financial benefits at AT&T include stock bonus, 401(k) plan, and profit sharing. The average base salary at Verizon Wireless is $93k/year while the average bonus is $9k.
Sprint
Located in Overland Park, KS, Sprint was founded in 1986 and has 28,500 employees (Built In, 2022). The company offers free wireless services and discounts to employees, including their friends and families. Sprint also has a competitive pay, $5250 reimbursement for eligible education expenses, and 401(k) program/ Sprint also has wellness programs that provide financial social, community and health coaching for their employees (Built In, 2022). Sprint has an average compensation of $138k/year with the highest paid being the Director of Sales who earns over $232k (Comparably, 2022). The company is concerned about its employees and their overall well-being and offers a paid time off and paid holidays for all full-time and select part-time workers. Child care benefits and generous parental leave are the company’s benefits under the umbrella of Child Care and Parental Leave Benefits program. The culture at Sprint cares for employees’ wellbeing as the company facilitates volunteering in local community, partners with nonprofits, workers eat lunch together, encouraging friends outside of work, and creation of intracompany committees. Like AT&T, Sprint has an elaborate health insurance and wellness benefits program that i...