1. Chapter 12 discusses various reasons for the historical growth in the size of benefits packages. Which of these reasons still affects the growth of employee benefits today? Which actually might be current reasons for declines in the size of benefit packages?

2. Describe how a benefits program might increase worker attraction, retention, and motivation. Which feature of a benefits program might be more attractive to you now, and why? Which feature of a benefits program would be least attractive to you now, and why? Are your views about the most and least attractive features of a benefits program likely to change over time, and why?

3. World Measurement is the global leader in product testing for safely The recent problem with Chinese-made toy products combined with the global recession has caused a 7 % decline in sales and a 12 percent decline in net profits. The president of the company, Lewis Jacobs, is convinced that he must gain concessions from the workers if World Measurement is to compete effectively with increasing foreign competition. In particular, Jacobs is displeased wit the cost of employee benefits. He doesn't mind conceding a competitive wage increase (maximum of 3%), but he wants the total compensation package to cost 3% less. (The current costs are shown in Exhibit 1 in your textbook.)

Your assistance has surveyed other companies that are obtaining concessions from employees. You also have data from a consulting firm that indicates employee preferences for different forms of benefits (Exhibit 2 in the chapter). Based on this information, you have two possible concession packages that you can propose, labeled "Option 1" and "Option 2 in the textbook (Exhibit 3 of Chapter 12)

- Cost out these packages given the data in Exhibits 1 and the information obtained from various insurance carriers and other information sources (Exhibit 4)

- Which package should you recommend to Jacobs? Why?

- Which of the strategies do you think will require less input from employees in terms of their reactions? Why? Milkovich, G., Newman, J., & Gerhart, B. (2014). Compensation (11th ed.)

    • 6 years ago
    A++ ANSWER

    Purchase the answer to view it

    blurred-text
    • attachment
      HumanResourceManagement_3.docx