Purchase Solution

Designing a benefit plan for less than 100 employees: what type of benefits could be included?

Not what you're looking for?

Ask Custom Question

Designing Benefit Plans

Draft a basic plan for a start-up company of fewer than 100 employees.
As you prepare your benefit plan, include the following information on factors influencing the choice of benefit package

What benefits are expected at the base level and what benefits would be unique and attractive to a good worker?

What cost target is appropriate for your total benefit package? Consider the trends provided in the text.
How will your plan affect retention and motivation of the work force?
Will your plan meet legal requirements?
Will any of your benefits show an unintended preference for people of a certain age, gender, marital status, or number of dependents, including a direct and indirect impact of the benefit plan on these protected classes?

Can you administer the plan in a small employer environment?

Purchase this Solution
Solution Summary

The solution presents a lengthy list of types of benefits that are expected at the base level and those which may be unique and attractive to employees. The cited solution also gives the cost of such benefit packages per employee in 2007.

Solution Preview

What benefits are expected at the base level and what benefits would be unique and attractive to a good worker?
There are several benefits that are expected at the base level. These include medical insurance, dental insurance, eye care, short term disability, long term disability, unemployment insurance, workers compensation, vacation time and sick time.

Other benefits that would be unique and attractive to a good worker could include gym membership, on site conceirge service, on site day care, profit sharing, elder care, pet insurance, domestic partner insurance coverage, and on site exercise facility.

What cost target is appropriate for your total benefit package? Consider the ...

Purchase this Solution
Free BrainMass Quizzes
Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Learning Lean

This quiz will help you understand the basic concepts of Lean.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

View More Free Quizzes
Related BrainMass Solutions

  • Pitney Bowes: Employer Health Strategy

    c) Evaluate the company's approach to selecting and designing a health plan, and pharmacy benefits. d) How would you improve the company's plan? What challenges and constraints must be addressed?

  • Employee Benefits Plan Components

    What are the key issues that must be considered when developing, designing, and administering a benefit plan? Why? Benefits must have a benefit to employees in order for them to be attractive.

  • Desiging an Employee Compensation and Benefits Package

    595508 Desiging an Employee Compensation and Benefits Package 1. Choose the type of organization for which you are designing an employee compensation and benefits package. 2.

  • Benefits, OSHA investigations

    The co-payment for a PPO plan also tends to be less than the co-payment for an HMO plan, and on a PPO plan, the insured doesn't need a primary care physician to refer the insured to other needed services, which is needed on an HMO plan.

  • Benefits and the Cafeteria Plan

    182687 Evaluation of the employment benefit plan known as the "cafeteria plan" What components can be included in a cafeteria plan? What types of employee compensation plans do you recommend for the company that you are evaluating?

  • Are the concerns and issues surrounding cash balance retirement plans justified?

    When an employee converts from a defined benefit plan to a cash balance plan, the accrued benefit will normally be converted into a hypothetical opening account balance and if this balance is less than the present value of the benefits the employee has

  • Benefits for Part Time Employees

    570028 Benefits for Part Time Employees Employers have the right to decide what benefits to offer which employees other than those legally required.

  • Solarium Inc Benefit Costs

    What could be done by management do to benefits planning and design?

  • Do employees in a defined benefit plan have any protections

    All other employees typically receive 100% of their pension benefits. Do employees in a defined benefit plan have any protections in place in the event the company goes into bankruptcy or could they lose the promised benefits?

View More Related Solutions