Reference no: EM133094535
Group Assignment - Building a Comprehensive Benefits Plan
For your presentation on Thursday, please discuss the comprehensive benefits plan you came up with for the organization for which you created the compensation structure.
Your benefits plan will need to consist of those legally required for the state of New Jersey and discretionary benefits that would meet all the needs of your business and the employee desires. You will need to include the following for your presentation:
1. Protection Programs such as (list the average cost per employee):
Disability insurance
Life Insurance
Unemployment Insurance
2. Retirement Plan(s)
3. Paid Time Off (what days and how many total will the employees have off)
4. Services (EAP, FAP, Wellness Programs, Educational Benefits, etc.)
5. What are some other legally required benefits you will provide to your employees (assume your company is in the state of New Jersey)
Upon determining your benefits plan, please include the following:
Who is eligible to receive coverage (Full-time, Part-time, Temporary, All, etc)
Financing of benefits - what is the average cost per employee to the company and what is the average out of pocket cost (deduction per paycheck) to the employee?
What is your communication strategy for delivering the benefits program to the employees and why is this strategy the best?
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