Boston Consulting Firm

Boston Consulting Firm Benefits

Mike Williams

Grantham University

Boston Consulting Group Benefits

An analysis of organizations, both public and private, show the use of flexible benefits programs to help attract and retain a motivated and high-performing workforce. The Boston Consulting Group is said to be one organization, to set the bar very high, when it comes to sharing the benefits wealth with its employees.

What are benefits? Benefits were once popularly referred to as "fringe benefits" which came into prominence during World War II. In the face of federal wage controls to curb inflation, employers began to offer benefits to attract, motivate, and retain employees. Eventually, these various benefits programs, instead of being on the fringe of a worker's compensation, became an expected and valuable part of a complete employment package. That package being referred to today as employee benefits.

It’s no secret, successful CEOs, like the ones at the Boston Consulting Firm who value their employees as their company’s most important assets. In our service-focused economy, the Boston Consulting Firm (BCF) doesn’t have big machinery, large farms, or huge processing plant, but they do have talented consultants, they would like to keep happy while remaining in a good position to attract new talent. Having and outstanding benefits and compensation package remains a significant factor in attracting and retaining talented employees at BCF, given the current business climate, when a company’s resources are scarce, there are competing interests for every single dollar a company has to spend. How does BCF decide how to spend those competing dollars, and once that decision was made, how did BCF communicate that value to its employees? (Breslin, 2013)

Everyone has his or her own reasons for working, and pay usually is among the most important. Not surprisingly, though, many workers list other factors that are almost as equally as strong. These factors can...