Benefits Plan

Topics: Employment compensation, Holidays, Employee assistance programs Pages: 7 (1727 words) Published: March 13, 2013
Delta Design Benefit Plan Design Analysis
Michael Lane
Benefits – HRM-599-14342
Keller Graduate School of Management
Professor Michael Ross
January 2013

Table of Contents

Organization Selection3
Company Profile3
Benefits Program3
Statement of the Issue5
Basic Issue5
Literature Review7
Academic Resources and Relationships7
Issue Analysis8
Issue Solutions8
Logical Solution8
Pros and Cons9
Solution and its Implementation10
Addressed Problems and Solutions10
Plan & Measurement10
Pros and Cons10
Course Materials10
Reflection Statement10
Works Cited11

Organization Selection
Company Profile
The organization that I have chosen to analyze the benefits plan is Delta Design. Delta Design is a Cohu Inc. organization. “Cohu is a leading supplier of test handling, burn-in and thermal solutions used by the global semiconductor industry, microwave communications and closed-circuit television equipment. In 1972, the name Cohu Electronics, Inc. was changed to Cohu, Inc.” (Cohu, 2008). Cohu Inc. is comprised of five major organizations. These organizations are Delta Design, Rasco, BMS, Ismeca, and Cohu Electronics. Cohu Inc. is headquartered in Poway CA. Delta Design has major offices located throughout the world including California, Philippines, and Singapore.

Benefits Program
Delta Design has many different benefits included in their plan as you can see in the below table. These benefits are the standard for the semi-conductor manufacturing industry. There are a few issues with the way that the benefits are disbursed. One major issue that they have is that the Education Re-imbursement plan has too many unneeded levels. Another issue with their plan is in the Paid Holiday plan. Delta Design – Benefits|

Medical| Dental| Vision|
Flex Spending Accounts| Employee Assistance Program| 401k Retirement Plan| Employee Discounts| Education Reimbursement| Paid Holidays| Vacation & Sick Leave| Bereavement| Bicycle Benefits| Long Term Disability| Short Term Disability| Life Insurance| Accidental Death and Dismemberment| Health and Wellness Plan| Employee Stock Purchase Plan|

The 401k Plan is matched at 50% of the first 3% that is contributed by the employee. This plan is administered through The Principal. Employees are eligible within the first month of hire.
The Employee Stock Purchase Plan allows employees to contribute up to 10% of their pay. This is done every six months and at a 15% discounted price.
The Healthcare Benefits Plan includes medical, dental, and vision. The carrier for the medical and dental is Aetna, while the vision is through VSP. Employee can cover themselves as well as their spouse and children up to 26 years of age. This plan also includes the Flex Spending Account. This account allows the employee to use pre-tax contributions to help with healthcare and dependent care.

The Holiday and Time-off Plan provides 15 days of vacation for new hire salary employees and 10 days for hourly new hires. This plan also includes 10 paid holidays.
The Employee Assistance Plan offers the employees free counseling through Horizon Health. This covers many types of counseling including psychological, stress, and substance abuse.
The Tuition Reimbursement Plan covers the cost of books, tuition, and registration up to $3000 per calendar year. The amount of reimbursement is dependent on the grade received.
All other benefits are the amount that the law states.
Statement of the Issue
Basic Issue
One of the main problems with the Delta Design benefit plan is the complicated Tuition Reimbursement program. This program has levels that make it hard to know just how much money will be reimbursed. The levels are dependent on the grade received. If the employee gets an “A”, they will get 100% percent of the tuition paid. If they get a “B”...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Are You Getting Employee Benefits? Essay
  • Employee Benefits Essay
  • Employees Benefits Essay
  • Compensation and Benefits Essay
  • Compensation and Benefits Strategies Recommendations Essay
  • Compensation and Benefits Plan Essay
  • Human Resource Management
  • Employee Benefits Essay

Become a StudyMode Member

Sign Up - It's Free