Strategic Value of Employee Benefits Programs

Assignment 3: Strategic Value of Employee Benefits Programs 

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 (6-7) page paper in which you:

• Identify and discuss at least three (3) important variables that  almost always should be considered by organizations when 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 (4-5) of what may be  referred as “Other Benefits” that you could recommend to the management  team as necessary elements for the benefits package. HINT: Flextime and  product/service discounts are good examples.
• Develop an employee benefits package for any exempt or non-exempt position level of your choosing, making sure you support the selection of your program elements. NOTE: The  preferred method for presenting your benefits package information is  using a table or exhibit, but either approach is not mandatory. HINT: http://www.isacs.org/uploads/file/Monographs/Business%20Operations/Benefits%20Plan.pdf 
  http://www.usbankhr.com/hr/docs/benefits/benefits-at-a-glance-next.pdf 
• Format your assignment according to these formatting requirements:
  1. Be typed, double spaced, using Times New Roman font (size 12), with  one-inch margins on all sides; references must follow APA or  school-specific format. Check with your professor for any additional  instructions.
  2. Include a cover page containing the title of the assignment  (with running head), the student’s name, the professor’s name, the  course title, and the date. The cover page is not included in the  required page length.
  3. Include a reference page. Citations and references must follow  APA format. The reference page is not included in the required page  length. Use the Strayer University Library at  https://research.strayer.edu to locate additional sources to support  your work.

The specific course outcome associated with this assignment is:

• Establish the importance of compensation and benefits, and how they support business strategy.