because they were buying for a group of people rather than a single individual. Over the course of the twentieth century, benefits grew to include retirement programs, health benefits, educational reimbursement, holidays and paid time off, access to credit unions, employee stock ownership programs, and similar direct financial benefits (Cascio, 2005).
During the latter part of the twentieth century, benefits expanded to include nonfinancial items, as well. Organizations began offering on-site childcare as more women entered the workforce. Job sharing and flex-time, two job management strategies that have benefit to companies, were also found to be beneficial to some employees who sought greater flexibility in scheduling their work hours. As technology expanded, the ability to work from home and telecommute added an additional benefit so that employees could avoid long commutes and save time and money even as they were able to accomplish their job duties (Cascio, 2005).
Benefits can be classified as direct financial benefits and as nonfinancial benefits, as described above. Benefits are also classified according to how they affect employees and the organization. Some benefits are considered part of the compensation package, including stock option plans, retirement programs and healthcare benefits. Other benefits may be related to the work environment. These include the number of paid holidays, sick and vacation days that a company offers, and even the availability of coffee, tea, sodas and snacks. Other types of benefits are associated with employee development, and can include training and education. Employees are able to improve their own skills and further their education at college or university, or take courses to improve their technical, business or interpersonal skills. Some organizations also provide benefits that are related to quality of life and the balance of personal and work life, such as of...