HRM 635 Topic 7 Discussion 2: What are legally required benefits and why are they required by law? Can any of these benefits be waived? Provide an example. Provide one additional benefit that should be made into a legally required benefit.

HRM 635 Topic 7 Discussion 2: What are legally required benefits and why are they required by law? Can any of these benefits be waived? Provide an example. Provide one additional benefit that should be made into a legally required benefit.

HRM 635 Topic 7 Discussion 2: What are legally required benefits and why are they required by law? Can any of these benefits be waived? Provide an example. Provide one additional benefit that should be made into a legally required benefit.

Topic 7 DQ 2

Assessment Description

What are legally required benefits and why are they required by law? Can any of these benefits be waived? Provide an example. Provide one additional benefit that should be made into a legally required benefit.

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Topic 7 DQ 2: Legally Required Benefits

Legally required benefits, such as ensuring workers’ fundamental rights and safeguards on the job, are the first step in caring for workers. According to the US Department of Labor (n.d.), programs like Social Security, Medicare, and workers’ compensation help pay for retirement, medical coverage, and lost wages due to on-the-job accidents. These benefits are law and thus required to be provided to accomplish the same consistent level of care and fairness for all workers.

The payroll taxes provide long-term financial predictability to the retirees’ pay legislatively required benefits, which cannot be rescinded, for instance, Social Security. In some instances, Lester et al. (2020) explain that waivers are necessary for discretionary benefits, such as workers’ compensation settlements. For example, an employee would prefer a one-time payment rather than installments. Legal assurances ensure that while there is some latitude in such circumstances, decisions are nonetheless made with the employee’s best interests at heart.

Additionally, paid parental leave needs to be mandated by law. Families, particularly in the high-demand professions of healthcare, are suffering emotionally and financially due to the lack of consistent rules on parental leave (Abrams, 2022). Employee retention and happiness would increase with mandatory paid parental leave, allowing them a better work-life balance.

Legislated benefits form a required safety net to protect workers’ financial and physical security. Society shows its concern about workplace fairness through required benefits, enabling a moral hiring model. Further fairness and work-life balance for workers across various industries might be advanced by expanding the legally required benefits to include paid parental leave.

References

Abrams, Z. (2022, April 1). The urgent necessity for paid parental leave. Apa.org; American Psychological Association. https://www.apa.org/monitor/2022/04/feature-parental-leave

Lester, G. V., Brock Baskin, M. E., & Clinton, M. S. (2020). Employer-Sponsored benefits in the United States: The past, present, and future. Compensation & Benefits Review, 53(1), 088636872094760. https://doi.org/10.1177/0886368720947609

US Department of Labor. (n.d.). Employment law guide – employee benefit plans. Webapps.dol.gov. https://webapps.dol.gov/elaws/elg/erisa.htm