Employee Benefits Plan
Communication an Employee Benefit Plan
Bertha A. Navarro
Roosevelt University
HRM 430 – Online Employee Benefits Professor, Don Wlodarski
April 29, 2013
Abstract
A plan administrator for employee benefits has the task of assessing the needs of the employees of the organization. To do this, the administrator has the daunting task of identifying those needs in terms of internal and external factors, as well as comparing costs for the contemplated benefits so that they meet with the organization’s budget. Once all data is compiled it is then presented to upper management for approval. The next step is to communicate the benefit package to the employees. An carefully designed benefit plan is a strategic plan in attracting and retaining talent, surprisingly a benefit plan that includes heath care and a retirement plan are first on the list of today’s workforce (Hall, 2013). To develop an effective benefit plan requires a strategic planning and communication (Thompson, 2013).
Communication an Employee Benefit Plan
Introduction Over the years employee benefits played an important role in the lives of the American worker. However, the high cost of health insurance and prescriptions companies are finding it difficult keeping up with the constant rise of costs of these benefits and have opted to either stop offering top quality benefits and chose a plan with higher deductibles and or passing the majority of the cost to the employee (Hall, 2013). Employee benefits refers to compensation, not including wages (hourly or salaried), that include paid vacation, medical insurance coverage, dental insurance, profit-sharing plans, paid time off and tuition reimbursement. Organizing and communicating these benefits to employees efficiently requires the right form of communication. Strategic Planning Many feel that employees have the right to these benefits and that companies are obligated to offer and pay for the benefit plan. The truth
Bertha A. Navarro
Roosevelt University
HRM 430 – Online Employee Benefits Professor, Don Wlodarski
April 29, 2013
Abstract
A plan administrator for employee benefits has the task of assessing the needs of the employees of the organization. To do this, the administrator has the daunting task of identifying those needs in terms of internal and external factors, as well as comparing costs for the contemplated benefits so that they meet with the organization’s budget. Once all data is compiled it is then presented to upper management for approval. The next step is to communicate the benefit package to the employees. An carefully designed benefit plan is a strategic plan in attracting and retaining talent, surprisingly a benefit plan that includes heath care and a retirement plan are first on the list of today’s workforce (Hall, 2013). To develop an effective benefit plan requires a strategic planning and communication (Thompson, 2013).
Communication an Employee Benefit Plan
Introduction Over the years employee benefits played an important role in the lives of the American worker. However, the high cost of health insurance and prescriptions companies are finding it difficult keeping up with the constant rise of costs of these benefits and have opted to either stop offering top quality benefits and chose a plan with higher deductibles and or passing the majority of the cost to the employee (Hall, 2013). Employee benefits refers to compensation, not including wages (hourly or salaried), that include paid vacation, medical insurance coverage, dental insurance, profit-sharing plans, paid time off and tuition reimbursement. Organizing and communicating these benefits to employees efficiently requires the right form of communication. Strategic Planning Many feel that employees have the right to these benefits and that companies are obligated to offer and pay for the benefit plan. The truth
References: Entrepreneur Media, Inc. (2013). Employee Handbook Template. Enterpreneur.com. Retrieved August 22, 2013, from http://www.entrepreneur.com/formnet/form/612 Erikson, R Renckly, R. G. (2004). Human resources. Hauppauge, NY: Barron 's. Rosenbloom, J Steingold, F., & Schroeder, A. (2009). The employer 's legal handbook. Berkeley, CA: Nolo. U.S.Department of Health and Human Services Vandeweerd, J. (2001). Benefit Tips (Effective and Efficient Benefit Plan Design). Benefit Tips (Effective and Efficient Benefit Plan Design). Retrieved March 30, 2013, from http://www.benefits.org/interface/tip/bt-sr-01.htm