Identify and discuss key issues in benefit planning, design, and administration. Be certain to discuss the four major administrative issues that arise on setting up a benefit package (word limit is 325 words)
Key Issues in Benefit Planning, Design
Administration
1. Benefits Planning and Design Issues
– How to attract good employees
– How to deal with undesirable turnover
– Integrating benefits with other compensation
2. components
– Strategies for ensuring external
3. competitiveness
– Ensuring that benefits are adequate
– Whether employee benefits are cost justified
4 Major Benefit Administration Issues
a. Who should be protected or benefited?
– Series of questions need to be addressed
b. How much choice should employees have among
5. an array of benefits?
– Concerns choice (flexibility) in plan
6. coverage
– Standard benefit package
– Cafeteria-style,” or flexible, benefit plans
a. How issues associated with flexibility should
7. benefits be financed?
– Noncontributory
– Contributory
– Employee financed
a. Are your benefits legally defensible?
References: Stewart, G. L., & Brown, K. G. (2015). Human resource management: Linking strategy to practice (3rd ed.). Hoboken, NJ: Wiley.