Reference no: EM132128098 , Length: word count:500

Discussion Assignment -

The overall design and costs of an organization's benefits plans are an important part of their people strategy for attracting and retaining a talented workforce. For example, health care costs are of particular concern in today's work environment and also in the regulatory arena with all the proposals being advanced to change Obamacare. Also most companies have moved away from guaranteed pension to more of a employee-centered 401k plans.

Most organizations have a "one size fits all" strategy when it comes to providing a consistent and set benefits package to their employees. By doing so, it does not really address the particular personal needs, demographics and financial considerations of its workforce. A relatively new trend taking place is called flexible benefits, or "cafeteria plans." This topic is covered in more detail on P. 490 of your text. Basically, it works by providing a set amount of money to each employee that can be used to individually select the various benefits an employee feels they need for their particular life situation. So you might be able to choose more vacation time, drop your health insurance because your spouse covers you, increase your sick days, etc.

Your assignment is in two (2) parts:

• Post one (1) research article that highlights where other companies have moved to the this new "cafeteria" plan and discuss what experience they have had in its implementation.
• Also, review your benefits plan at your current employer (or previous employer) and briefly discuss why and how you would change your benefits package to address your particular needs, if you had more options to choose from a menu of items. If you have no work history, discuss what benefits are most important to you personally and why you would make these choices.

Attachment:- Assignment Files.rar