Employee Benefit Plans

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Week 1
1. Benefit plans
Employer-sponsored benefits reflect the culture and business of the organization, and plans should be crafted and selected accordingly. Think about your current (or former) organization's benefit plan. Did it help to improve the quality of your work as well as your personal life? Why or why not? Was it a generous benefits program or were there specific benefits you felt should have been included?

We want more time off
Today people are looking for benefits what will help them manage their work-life life-styles better. Today, with the help of technology, employer is now starting to be more capable of offering flexible options with great results.

Time off, seems to be another area that, I think, needs major improvement across the whole country. The average of two weeks’ vacation is way below the standard offered in all other countries, even third world countries have mandated better time off benefits embedded in their labor laws. I feel that we Americans work too hard, with little time to be more involved in raising our kids or even taking care of ourselves. No time for soccer practice with my kinds, no time to go to the gym so I can lose some weight, no time to cook a good health meal for the family.  Our lives are hassle and hassle and hassle. To me, when it comes to benefits, time off carries a lot of weight. I rather have an additional week of vacation that 5K more in my pay. Benefit plans

Our company is into sales, entertainment, sports. I think it would be kinda hard to model a plan accordingly. Our plans are more designed to the type of family you have because we have a big mixture of people. I personally am not covered so I can't really speak in terms of how it benefits my life. Of course I do have vacation time and such, which does allow me to take some to myself.

One thing I think would help in my quality of work or personal life is a flexible schedule. What I do sometimes affect payroll, so I have to map out times off or half days. However there are times when I really could use off and not really need to be in, so I wouldn't mind working an extra hour each day to have a half day later, or coming in earlier so I can leave earlier. Mainly because I prefer working in teh morning. I feel it helps me stay more attentative. Benefit discussion

Providing workers with paid vacation time is extremely common, and generally considered a low-cost benefit to offer. Two weeks paid leave is fairly standard for a small business in the U.S. Many companies start workers at two weeks and reward them with additional time off as they accrue seniority. Some companies will also pro-rate vacation time, so that new hires that start on or after July 1 are only offered a week's vacation time in their first year.

Benefit Planning Process (graded)|
As part of conducting a benefit plan needs assessment, a human resource professional must consider the organization’s business strategy as well as its compensation philosophy. What do you think is the next step that should be taken? What are some of the possible outcomes of a benefit plan needs assessment?

depends of what stage of the life cycle of the organization is | Mark Lema | 4/25/2012 7:11:46 AM|

| I guess It depends of what stage of the life cycle of the organization we are, and the industry we are. I think that if we are new start-up business in the technology industry, we might need the best talent out there; therefore our strategy should be to offer very competitive benefits to attract and retain the best. Specially if they are highly skilled and in big demand.

If I were to be in the "decline" stage or the organization, I might have to reduce cost and offer cost effective benefits to offset the costs and minimize expenses. | | RE: depends of what stage of the life cycle of the organization is | Harpreet Sandhu | 5/4/2012 7:53:32 PM|

| Modified:5/4/2012 7:54 PM |
| I agree with my classmates that first it all...
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