ADM 2337 Chapter Notes - Chapter 11: Employee Assistance Program, Life Insurance, Defined Contribution Plan

• School: University of Ottawa
• Department: Administration
• Course: ADM 2337
• Professor: Catherine Elliott

Document Summary

Requirements for an effective benefits program: selecting benefits that target important employee needs while promoting strategic organizational objectives, effective administration of benefit programs, strategic benefits planning. Based on specific objectives improve employee work satisfaction: meet employee health and security requirments attract and motivate employees retain top performing employees, maintain a favourable competitive position. Create committees to administer, interpret and oversee their benefit policies. Will ensure management is moving in direction of satisfying employee wants: benefits for a diverse workforce. New types of benefits to meet shifting needs, social changes pg 391: providing for flexibility. Flexible benefit plans: cafeteria plans, enable individual employees to choose benefits suited to their particular needs. Benefit selections adapt to a constantly changing workforce. Employees gain greater understanding of the benefits offered to them and the costs incurred. Employers maximize the psychological value of their benefits program by paying only for the highly desired benefits.