Escalating benefit costs

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One year later, you've solved the staff turnover problem, but you have a challenge of your own. You're trying to figure out how to take some time off to spend with your spouse, who has just survived a major operation. The company comptroller shows up at your office ranting and raving about escalating benefit costs. He vents his concern to you about the ever-increasing number of parental leaves. He expresses grave concern that the parental leave top up - supplementary employment insurance benefits that the company agreed to in the past - will completely wipe out the company's benefit budget! The comptroller confides in you that he feels that it is totally unfair that all these parental leaves are drying up the benefits fund and will leave him with a meager pension fund to draw on when he retires in 5 years. When you hear this, a light goes on! You have wanted to change the company benefits plan for some time now. What is your strategy to address the above situations? Explain fully what you need to do to make your plan work effectively and what pitfalls you should avoid.

Reference no: EM133094613

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