ADM 2337 Chapter Notes - Chapter 11: Employee Benefits, Deferred Income, The Conference Board
13 Apr 2020
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2 factors of an effective benefits program: selecting benefits that target important employee needs while promoting organizational objectives, effective administration of benefits programs. 4 considerations of an effective benefits programs are as follows: 5 main objectives of most benefits programs: Retain top-performing employees: maintain a favourable competition position. Having employees participate in designing benefits programs helps ensure that management is moving in the direction of satisfying employee wants. Employee benefits programs must reflect the social changes that canada is constantly facing. The changes in the diversity and lifestyles of the workforce make it necessary to develop new types of benefits to meet shifting needs. Flexible benefits plans: also known as (cafeteria plans); benefits plans that enable individual employees to choose the benefits that are best suited to their particular needs. It is critical that organizations effectively - and frequently - communicate the benefits package to employees.
