Describe the components of employee benefit programs.
Not what you're looking for?
See attached Scenario for background information 3-4 pages
Details: You are conducting an annual benefits review for your company. You must determine what, if any, changes should be made for the following plan year. This is a great opportunity to design and implement a benefits package that includes more than what is currently offered. The current plan includes an indemnity health plan, long-term disability and life insurance.
As you prepare your plan recommendations, consider how to create a plan that is competitive within the industry, is financially feasible for the organization, and meets the needs of the employees.
In your plan you should address the following:
* Various discretionary benefits you recommend and why
* Legal regulations to be considered
* The issues/challenges need to be considered with this new benefit program
* How the new benefit program will be communicated to managers and employees?
Additional links you may find beneficial include: EEOC Compliance Manual (http://www.eeoc.gov/policy/compliance.html) and Why offer your Employee Benefits?(www.howtoadvice.com/EmployeeBenefits#WHYOFFER)
Purchase this Solution
Solution Summary
Vacation leave - Employees should receive 2-3 weeks of vacation per year, depending on their length of service with the company. Such leaves and holidays allow employees to take time off their work, relax and rejuvenate and thus, maintain their productivity throughout the year.
Solution Preview
Various discretionary benefits I recommend:
1) Vacation leave - Employees should receive 2-3 weeks of vacation per year, depending on their length of service with the company. Such leaves and holidays allow employees to take time off their work, relax and rejuvenate and thus, maintain their productivity throughout the year.
2) Sick leave - Employees should also receive 12 days of sick leave per year.
3) Paid holidays - Employees receive 10 scheduled holidays and one floating holiday each year.
4) Health and dental insurance should be provided to the employees as well as their eligible dependents, such as wife and kids.
5) Life and accidental death and dismemberment insurance: Life insurance and accidental death insurance is a must for employees as it provides them a sense of security.
6) Disability insurance: This benefit will relieve employees of any fear related to disability due to accidents, etc.
7) Long term care insurance - In addition to the employee, their spouse and parents may also qualify to purchase coverage through the group plan.
8) Pre-tax accounts - These allow the employees to pay certain expenses with money taken from their pay before it is taxed. Because they are taxed less, ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
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.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.