Strategic Value of Employee Benefits Programs

Instructions

To attract, motivate, and retain good workers, companies need to define what an employee wants from the employment relationship. One way to define employee needs is to consider “total rewards,” which are everything an employee perceives to be of value resulting from working for the company. Benefits are a core element of total rewards and the ever-growing package of offerings have evolved. You must now work with the company to define precisely where the various programs will be categorized.

Write a six to seven-page paper in which you do the following:

• Identify and discuss from the textbook at least three important factors that almost always should be considered by organizations before providing employee benefits programs. Be sure the response is specific and relevant.
• Compare and contrast income protection programs and pay for time not worked programs, both of which are usual elements of benefits programs. How are the programs similar? Are they mandatory?
• Research and discuss at least four to five of what may be referred to as “Other Benefits” that you could recommend to the management team as necessary elements for the benefits package. Hint: Flextime and product or service discounts are good examples.
• Develop an employee benefits package for any exempt or non-exempt position level of your choosing (indicating which), and making sure you support the selection of your program elements (why chosen over others).
  • Note: The preferred method for presenting your benefits package information is using a table or exhibit, but either approach is not mandatory as long as requirement is met.
  • Examples: US Bank Benefits at a Glance and UW-Madison New Employee Benefits Summary. A must view: Employee Benefits: Examples of the Most Common Employee Perks | Indeed.com
• Use at least four quality academic resources in this assignment.

This course requires the use of Strayer Writing Standards, APA 6, or APA 7 at the student’s discretion. Check with your professor for any additional instructions.

The specific course outcome associated with this assignment is:

• Design a strategic employee benefits package for an exempt or non-exempt position.

Note: To prevent using non-quality sources it is HIGHLY recommended to use the sources listed in the course resources section or others from Strayer library. Use of the textbook is required.

From Human Resource Management: Functions, Applications, and Skill Development:

• Chapter 13, “Employee Benefits