Most of the employees (and even me I did it) when looking for a job especially for an experienced, is employees benefits. Most of this benefits, mandatory given are from government’s requirements (SSS,philhealth, and HDMF), and the 13th month pay. The holidays which is double pay or with percentage according to your basic pay, the overtime pay, night differential (if you happen to work in night shift from 10pm-4am next day)
Another, not a mandatory because it depends on the company you work, examples: when you reach your quota you have an incentives either a cash or travel; when you employed for more than 10 years, you get an award and cash, insurances, free personal necessities worth P2,000.00, cars, or free tuition fees for your children or free medical check up for your immediate family once when you employed for more than many years of service, etc.
For employers/ owners:
Employees is the first customers in business coz what happens inside, it spread like a fire to other people. But there are very confidential that incase you share or gossip or you duplicate, you have a liability to your company depends of their punishments or sanctions.
The best advantage of having an employee/staff, is you can travel or meet with your friends for a lunch still earning a money; you are the boss so you have a freedom to choose or decide of what you really want for your business.
The challenging part of an employer/owner because of different personalities, the results of employees resign, terminate because of bad behavior, gossips, bore with their works, etc.. so an owner, you have to know them all, invest by attend seminar or find a mentor.
Since employees benefits is a part of business, this is very crucial because not all everyday sales is excellent or very good. There are times that sales is very low, economic recessions, and even you gain but due to unexpected or emergency, you encountered a cash shortage. If this is really happen, what should you do? There are also times, when you save for a rainy days, but some cash shortage encountered.
Cash management is important for an owner to learn and find ways so that the employees will stay longer because of employees benefits you given to them.