Analysis Of Aflac Total Reward System

Aflac, a Fortune 500 company, who has since 1955 been an employee and client centered insurance organization. In the company’s philosophy they commit to treat their employees with care, dignity and fairness (Reed, 2009). In the research performed by Reed (2009) the article points out that Aflac had more than 4500 employees and more than 71,000 licensed independent agents combined between the United States and Japan (p.1). With positive numbers as those, Aflac must hold true to the principles and value of their employees. Aflac total reward system aims to satisfy employees in an effort to continue their success.

Total Compensation Enhancement

Satisfied employees are usually the hardest working employees. Chen & Hsieh (2006) review showed

These goals are called philanthropic goals, which are goals that Aflac chooses to do regardless of the cost to the company. In an effort to keep employees and the community happy, once a month Aflac total reward program allows for Aflac to choose and give and reward “a Volunteer of Month” for working at their favorite charity. This gesture shows the strength of the company, not only to the employees, but the community as well. This encourages employees to go out participate and stay active in their community. Gao & Hafsi (2015) points out that there is a positive relationship established when giving time or money. Another internal strength is that Aflac gives their employee the opportunity to train and be promoted from within. This speaks volumes concerning Aflac’s ability to retain employees. Aflac has a clear understanding that taking care of the employees and the community has a positive impact on the success of their company.

Aflac profit and lost is a great internal weakness, it cost the company a large amount to provide the employee benefit package. Since Aflac believe that healthcare cost should be a shared responsibility between both employee and employer, they have found ways to justify any profit loss. Aflac should still take on most of the cost of the package, because they provide benefits at lower cost and satisfies the

Employees can work out onsite, while the children are at the childcare facility. Along with the wellness program, they could do a wellness challenge to promote healthy living. In the wellness challenge, offering monetary rewards for incentive to work toward goals. Another recommendation would be to offer paid time off for illness and vacation. If they want to stay within their core values of treating their employees’ right, this recommendation would allow for employees to get a break from work and not have to be concerned with their