Benefit Planning and Design
Author: Leah Shepherd
- Employee benefits should align with the organization's business strategy, be well-planned and be effectively communicated. See Developing a Benefits Strategy.
- Employers need to take into account the Patient Protection and Affordable Care Act (PPACA) when it comes to health benefits. See Developing a Benefits Strategy.
- A competitive benefit package can also help employers increase employee loyalty to the organization, which could lead to an increase in productivity and work quality. See Employer Objectives.
- Employee benefit plans are evolving quickly in response to economic conditions and new laws and regulations. Employers are looking for new ways to make benefit plans more cost-effective, attractive to their workforce and user-friendly. See Employer Objectives.
- As a result of increased health care costs, employers are asking employees to shoulder a greater share of the health care expenses for themselves and their dependents. See Cost-Effectiveness.
- Employers use benefits to attract talent and retain good performers. See Effect on Recruiting, Retaining and Motivating Employees.
- Employee benefit plans should be designed so that they meet both employee and employer needs. See Assessing Employee Needs.
- Employees look to their employers to provide a benefit package that helps protect their physical and financial well-being, as well as their dependents'. When evaluating the benefit package, it is important for employers to seek employee input to ensure that benefit programs reflect the needs of an ever-changing workforce. See Assessing Employee Needs.
- When planning the benefit package, employers should clearly determine the categories of employees eligible to participate. See Determining Who Should Be Covered.