Flexible Benifits, Performance Management and Unions

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1. Give an example of an organization that has flexible benefits program(s). Why or why not would organizations give flexible benefits to employees?

Monsanto shares a name and history with a company that began in 1901. However, Monsanto today is a relatively new company whose focus is primarily on agriculture and supporting farmers all over the world in producing larger crops while conserving more. Basically they are an agricultural company. They are a fortune 500 company and have over 10,000 employees in the United States with 146 facilities and over 21,000 employees globally with 404 facilities. Their headquarters is in St. Louis, Missouri and Monsanto has a flexible benefit program. This allows an employee to tailor their own benefits package. Monsanto provides the choices each year and the employee is able to select the package that best fits their needs for the coming year. Some things included in their benefit plans include Medical; Dental; prescription coverage; life insurance; disability insurance; flexible spending accounts; and even group legal to name a few. (Monsanto, 2012).

Why would an organization give flexible benefits to employees? The simple answer to this question is the organization realizes that they are compiled of diverse groups of employees. Within these groups these employees have their own individual needs and by offering the flexibility to meet these individual needs the organization as a whole will experience the rewards. Some benefits management literature implies some reasons for an organization to offer flexible benefit plans is cost pressures, workforce diversity and reasons related to federal taxes. (Barringer & MIlkovich, 1997). Giving your employees the opportunity to choose the benefits that are best suited to them will allow your employees receive the benefits they want and increase their perception of their pay. This expectancy theory should increase employee retention and attract valuable employees. If you believe that an organization who can attract and retain good employees then you would also agree that the flexible benefits plan is a plus.

2. How does the global nature of business affect performance management systems? Is this a positive or negative affect?

First let's understand what a ...