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BUSI 642

Redesigning the Benefit Package Assignment Instructions

Overview

Total rewards are essential for attracting, motivating and retaining talent. Understanding, designing, communicating and managing employee benefit programs is a critical task for human resource professionals. The benefit field also calls for close attention as it is highly regulated (i.e. ERISA, ACA, FMLA, COBRA). This assignment calls for you to design a comprehensive benefit package for a hypothetical company.

Instructions

This PowerPoint presentation must be a minimum of 20 slides (not including the title and reference pages) and be in current APA format. You are encouraged to ensure that you have thoroughly researched and responded to each question/prompt provided below. Include a title slide and reference slides. In-text citations are needed throughout the slides and speaker’s notes. Use the bold sections in the questions as headings within the slides. Use at least 2 scholarly sources (published within the last 5 years). In addition to the scholarly work, include 2 reputable practitioner works such as professional trade publications (i.e. Employee Benefit News, HR Magazine or HR Quarterly). Works should be published within the last 3 years. Note that works by vendors and casual works should not be used. The course text is required. Quote and apply at least one verse from the Bible. The presentation does not need an audio or video component but do include detailed written speaker notes beneath the slides.

Background

Zenoloi is a 200-employee technology company experiencing rapid growth. The company offers employees competitive base salaries, but the employee benefit package is not competitive in the industry. This has contributed to problems in attracting and keeping top talent. Zenoloi offers a basic high-deductible HMO insurance plan, limited paid time off and no retirement savings plan options. The company desires to be an employer of choice in the tech sector. Cost-effectiveness is still a concern, but the company would like to put some effort into improving benefits as it can provide security for employees and stability for the workforce.

Answer the following questions in regard to Zenoloi’s benefit redesign:

· Introduction: Describe the nature of this analysis and the challenges that Zenoloi is facing

· Strategic Alignment of Benefits: Emphasize the importance of benefits and the role that they play in total rewards. Use research from academic journals to support the links between specific types of benefits and desired organizational outcomes.

· Proposal of Health Insurance Options: Discuss PPO and HMO insurance plans and how they work. Analyze the advantages and disadvantages of each type of plan from both the employee and employer perspectives. Based on your analysis, and with support by academic or reputable practitioner works on health benefit trends in the tech sector, recommend type of health insurance plan (or combination approach) that Zenoloi should adapt given their company strategic goals.

· Proposal for Additional Benefits: Propose three additional benefits that would create a comprehensive and competitive package for Zenoloi. For each benefit explain the purpose and strategic value of the benefit. Use academic research to explain why these types of benefits are important components of an organizational strategy and the impact on employees. Consider the potential costs and value proposition of the benefits.

· Implementation Considerations: Discuss the role of the HR department in implementing and managing the new benefits package and informing employees about their benefits to ensure employees understand the value of total compensation.

· Conclusion: Summarize your recommendations and reiterate the strategic value of investing in a comprehensive benefit package.

Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.

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