How Valuable Are Employee Benefit Plans?

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  1. How Valuable Are Employee Benefit Plans?

Note: Your third research paper is due on Sunday in Unit 7. Per your course syllabus, each of your 3 papers must be a minimum of 3 full double-spaced pages and a maximum of 5 pages. You may use your textbook as a source, but you must have a minimum of 3 non-text sources as well. Please document your sources professionally and include a bibliography. A word to the wise -- quality is paramount, but in most cases a 3 page paper will not be valued as highly as a 4 or 5 page paper. See attached file for specific details and grading criteria for this assignment.

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Perfectsolutions
School: Rice University

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Running head: VALUABLE IS EMPLOYEE BENEFITS PLANS

Valuable is Employee Benefits Plans
Name
Institution
Date

1

VALUABLE IS EMPLOYEE BENEFITS PLANS

2

Employee benefit plans are those advantages forms of compensation that an employer
pays to the employees above and over the regular wages or salary. In the United States,
employee benefits plans include medical, health, relocation assistant, dental plans, legal
assistance plans, long-term insurance care plans among other types of plans. These benefits plans
are mainly established to improve the employment relation and the employer.

Elements for Designing a Competitive Employee Benefit Plan Package

There are many critical methods that the employers may wish to optimize so that they can
attract employees thereby enhancing workforce. Some of these are productivity, retention of
employees, the attraction of talents and satisfying the employee in general. The elements for
designing an effective employee that is competitive include
➢ The employer should customize a strategic plan to be driving the behaviors of the
employees. The plans for benefits can be designed to aid motivate the employee
behavior within the segments of operation. This can be done by using data
analysts to help in better understanding of what is the driving force of the
different behaviors of various employees in different operating segments. This
will help the employer to take a customized and granular approach to plan design.
➢ Customize the programs for disability management in order to reduce employee
absence and lead to improved productivity of the workplace.
➢ Provision of sufficient protection against financial risks that are major during the
working years in order to reduce the plan leakage for retirement.

VALUABLE IS EMPLOYEE BENEFITS PLANS

3

➢ Ex...

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