Business Administration - Human Resources HRA840 Chapter Notes - Chapter 3: Voicemail, Intranet, Orthodontics
11 Mar 2016
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Benefit plan choices: offer or don"t, who is eligible, coverage, payment, administration, termination. Employer factors: relationship to total compensation objectives, costs relative to benefits, competitor offerings, role of benefits in, attraction, retention, motivation, legal requirements. Employee factors: equity: fairness historically and in relationship to what others receive, personal needs as linked to, age, gender, family status, dependents. Employers get more control over costs of benefits. Set number of packages are created based on likely choices, perceived need/value. Employees choose one of the modular" plans best suited to them (typically 4-5) Fixed core of benefits provided to all employees (i. e life insurance, ltd) Employees choose other options beyond core using credits or pay. Employees have complete choice from cafeteria" of benefits up to a certain ceiling. Very minimal core" may be necessary, but this system is the most flexible. Different ways to define costs: e. g. , claims, service fees, greater usage, adjudication or employee need.
