Identify and discuss key issues in benefit planning

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Reference no: EM131320050

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 (325 Words).

Key Issues in Benefit Planning, Design, and Administration:

Benefits Planning and Design Issues

- How to attract good employees

- How to deal with undesirable turnover

- Integrating benefits with other compensation components

- Strategies for ensuring external competitiveness

- Ensuring that benefits are adequate

- Whether employee benefits are cost justified

4 Major Benefit Administration Issues:

Who should be protected or benefited?

- Series of questions need to be addressed

How much choice should employees have among an array of benefits?

- Concerns choice (flexibility) in plan coverage

- Standard benefit package

- Cafeteria-style," or flexible, benefit plans

How issues associated with flexibility should benefits be financed?

- Noncontributory

- Contributory

- Employee financed

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.

Reference no: EM131320050

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