Benefits Packages
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How do the needs of today's workforce affect the types of benefit packages that organizations offer to their employees? What are the pressures and challenges that are facing organizations today in the area of benefits, and how can they address them? Why are defined contribution pension plans gaining in popularity in the United States and defined benefit plans losing popularity? Describe how a flexible benefit program might increase worker satisfaction with benefits at the same time that costs are being reduced.
I know that organizations need packages to fit employees life styles and needs and wants. but i need help elaborating on this subject
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Solution Summary
How do the needs of today's workforce affect the types of benefit packages that organizations offer to their employees? What are the pressures and challenges that are facing organizations today in the area of benefits, and how can they address them? Why are defined contribution pension plans gaining in popularity in the United States and defined benefit plans losing popularity? Describe how a flexible benefit program might increase worker satisfaction with benefits at the same time that costs are being reduced.
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How do the needs of today's workforce affect the types of benefit packages that organizations offer to their employees?
Once the basic needs of today's workforce is fulfilled, they strive to fulfill higher level needs such as self esteem and self actualization needs, as outlined by the Maslow's Need Hierarchy Theory. Such needs include higher level needs like need for praise and recognition, challenging opportunities,etc. Thus, today's organizations need to devise customized benefits packages for different groups of employees in the organization or employees at different levels. They need to carefully analyze the needs and wants that would provide the best level of motivation for the employees at different levels.
What are the pressures and challenges that are facing organizations today in the area of benefits, and how can they address them?
The primary pressure and challenge is to understand the diverse set of needs,wants and desired of different groups of employees as well as employees from ...
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