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Key Issues in Benefit Planning, Design, and Administration

· Benefits Planning and Design Issues

· How to attract good employees

· How to deal with undesirable turnover

· Integrating benefits with other compensation components

· Strategies for ensuring external competitiveness

· Ensuring that benefits are adequate

· Whether employee benefits are cost justified

4 Major Benefit Administration Issues

· Who should be protected or benefited?

· Series of questions need to be addressed

· How much choice should employees have among an array of benefits?

· Concerns choice (flexibility) in plan coverage

· Standard benefit package

· Cafeteria-style,” or flexible, benefit plans

· How issues associated with flexibility should benefits be financed?

· Noncontributory

· Contributory

· Employee financed

· Are your benefits legally defensible?

References:

Stewart, G. L., & Brown, K. G. (2015). Human resource management: Linking strategy to practice (3rd ed.). Hoboken, NJ: Wiley.