Southwest Airlines Renovates Benefits S
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1. Southwest Airlines Renovates Benefits System........................................................................................... 1
28 October 2014
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Southwest Airlines Renovates Benefits System
Author: Hitchcock, Joy E
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Abstract: When Southwest Airlines was founded in 1971, company executives decided it had to be different if they wanted to set it apart from its larger competitors. Emphasizing the importance of employees was one way to accomplish that goal. In 1988, the company had grown to more than 6,500 employees. The needs of the workforce diversified, and health care costs continued to increase. Southwest decided that a flexible-benefits plan would help in both areas. Southwest spent $13 million on health care in 1989, with 1990 projections of $15 million. The flexible benefits program could save 6% of the company 's health care costs if enrollment was 40% or above. This program is known as BenefitsPlus. It offers 4 medical plans, dental care, vision care, dependentlife insurance, 2 long-term disability plans, multiple life insurance, accidental death and disability pay, and 2 pretax spending accounts.
Links: Linking Service, Linking Service, Linking Service
Full text: Southwest Airlines is best known as the airline with a sense of humor that encourages employees to have fun on the job and encourages customers to have fun while traveling. The airline has one of the best overall customer service records, the lowest operating cost structure, and consistently offers some of the lowest fares in the domestic airline industry.
Covering the territory of California, and other Southwestern and Plains states, the
_______________________________________________________________
Report Information from ProQuest
October 28 2014 07:09
_______________________________________________________________
28 October 2014
ProQuest
Table of contents
1. Southwest Airlines Renovates Benefits System........................................................................................... 1
28 October 2014
ii
ProQuest
Document 1 of 1
Southwest Airlines Renovates Benefits System
Author: Hitchcock, Joy E
ProQuest document link
Abstract: When Southwest Airlines was founded in 1971, company executives decided it had to be different if they wanted to set it apart from its larger competitors. Emphasizing the importance of employees was one way to accomplish that goal. In 1988, the company had grown to more than 6,500 employees. The needs of the workforce diversified, and health care costs continued to increase. Southwest decided that a flexible-benefits plan would help in both areas. Southwest spent $13 million on health care in 1989, with 1990 projections of $15 million. The flexible benefits program could save 6% of the company 's health care costs if enrollment was 40% or above. This program is known as BenefitsPlus. It offers 4 medical plans, dental care, vision care, dependentlife insurance, 2 long-term disability plans, multiple life insurance, accidental death and disability pay, and 2 pretax spending accounts.
Links: Linking Service, Linking Service, Linking Service
Full text: Southwest Airlines is best known as the airline with a sense of humor that encourages employees to have fun on the job and encourages customers to have fun while traveling. The airline has one of the best overall customer service records, the lowest operating cost structure, and consistently offers some of the lowest fares in the domestic airline industry.
Covering the territory of California, and other Southwestern and Plains states, the
Links: IMPLEMENTATION SUCCESS "Our implementation kickoff was in June 1989, and we ran our first parallel payroll on April 1, 1990 percent--exceeding their anticipated savings goals. As of April 30, 1992, enrollment in BenefitsPlus was 55 percent.