Assignment:
Analyze the various benefit options available to today's managers and the framework for the benefit determination process.
Directions: This assignment has two parts; include both parts in a one-to-two page paper.
Part I: Research Assignment
Identify the essential components of a carefully thought out benefits plan package.
Part II: Textbook Assignment: The CEO of Krinkle Forms Inc. says there is a serious problem with turnover, with her observation provided below.
Seniority Turnover Rate:
0-2 years 61%
2-5 years 21%
5+ years 9%
The CEO wants to use employee benefits to lessen this problem. Before agreeing to look at this as the solution, what should run through your mind as a trained professional? What might you do, specifically, in the areas of pension vesting, vacation and holiday allocation, and life insurance coverage in the effort to reduce turnover?