HRMT412 Developing and planning employee benefits

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Question Description

Instructions: Consider all of the information both internal and external an organization must consider when developing and planning an employee benefits plan. What information is the most important to this planning process? Which might be the least important consideration? Conduct research into this problem and cite your reasoning.

Submission Instructions:
IMPORTANT!!

Submit your work as an MS WORD ATTACHMENT in either a .doc, .docx, or .rtf format.

Please support your ideas, arguments, and opinions with independent research, include at least three (3) supporting references or sources(NOT Wikipedia, unknown, or anonymous sources), format your work in proper APA format, include a cover page, an abstract, a reference section, and in addition a minimum of 5 FULL pages of written content. Double space all work, and cite all listed references properly in text in accordance with the 6th edition of the APA manual, chapters 6 & 7.

Tutor Answer

ProfessorMyron
School: Purdue University

please find the below attached file and review it for me if we may need enhancement or improvement. But if all is fine, kindly invite me for more tasks. Thankyou.

Running Head: DEVELOPING AND PLANNING EMPLOYEE BENEFITS

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1

Running Head: DEVELOPING AND PLANNING EMPLOYEE BENEFITS

ABSTRACT
The purpose of employee benefit is to retain employees of high quality, to attract
potential employees and to gain a competitive advantage in the job market. This research aims to
evaluate the various internal and external considerations to be considered when developing and
planning employee benefits plan. Apart from cash payments, there are other non-cash benefits
awarded to employees as remuneration. The general objective of this research is to analyze the
internal and external considerations to be taken into account when developing and planning
employee benefits plan. Some of the considerations organizations should take into account when
developing and planning employee benefits include resources since the implementation of the
benefits plan require funds. Organizations should also consider the strengths and weaknesses of
an organization so as to know which employee benefits that will further increase the weaknesses
of an organization. This can be proved if the weakness of the organization is frequent losses and
developing employee benefits may further increase the weakness since implementation requires
funds and the organization may not have the funds due to frequent losses. Political and legal
considerations should be taken into account since legal lawsuits are expensive to an organization.
The research concludes that organizations should consider both internal and external
information when developing and planning employee benefits plan because all the information is
crucial and it will help the organization to make informed decisions on the employee benefits
that will be implemented in the organization.

2

Running Head: DEVELOPING AND PLANNING EMPLOYEE BENEFITS

INTRODUCTION
Retirement schemes paid leave, pensions, holidays and security/share ownership are
examples of employee benefits. Therefore, employee benefits are payments to employees by the
employers that go beyond the common salaries and wages (O'Donnell, 2013). Employee benefits
motivate employees in an organization to work extra hard for the benefit of the organization. A
great role is played by employee benefits in the success of an organization. Organizations,
however, have to consider various considerations and information before developing and
implementing employee's benefits.
INTERNAL CONSIDERATIONS
Some of the internal information an organization must consider when developing and
planning employee benefits include; the available resources, this is because the plan requires the
organization to have resources to implement the benefit plans. Without resources, it will be
useless for an organization to develop an employee benefit plan since it will not be implemented
due to lack of funds that are crucial to the implementation of the employee benefit plans. The
organization must, therefore, have all the information about the available resources so as to be
able to develop and plan an organization's employee benefit plans that will be implemented in
the organization without further hindrances due to lack of funds that are a requirement in the
implementation of the benefit plans of employees.
Organizations must also consider their policies on employee benefits when planning and
developing employee benefits (Humphreys, 2012). If the benefits are against the organization's
policies, they will be rejected since they will disrupt the overall operations of the organization. It
is, therefore, crucial to have all the information regarding the policies of an organization so as to

3

Running Head: DEVELOPING AND PLANNING EMPLOYEE BENEFITS

develop and plan employee benefits that are in line with the policies of an organization. This is
because the policies made by an organization must be adhered to so as to ensure the continuous
and succe...

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Anonymous
awesome work thanks

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