Reference no: EM133005549

An organizations total benefit package is a key component to attracting hiring and retaining employees As health care costs continue to increase and the cost of pension plans also increases the overall benefit package becomes a very costly item for organizations. Please discuss the importance of an employer's overall benefit package. Specifically discuss the difference (pros and cons) of a defined benefit retirement plan versus a defined contribution plan and which would you prefer and why. Please feel to discuss any aspect of this topic, including personal experiences as to what type plan you have how much its value is to you etc. Also discuss the cost of health care plans and the types. In other words an open discussion of the overall benefit and is meant to drive home the point that these plans are costly but necessary for numerous reasons including attracting, hiring, and retaining employees and also possibly these benents are a social issue well.