Benefit Planning and Design Strategies
Author: Leah Shepherd
The key to designing benefits plans is to ensure they align with an organization's culture, values, mission and business strategy. Doing so provides the organization with a competitive advantage and contributes to its overall success. It is also important for HR to understand the effect an organization's benefits program has on retention, recruitment, employee satisfaction and plan participation. Understanding these metrics demonstrates that HR understands the business and can effectively contribute to the bottom line.
This guide discusses strategies for developing and/or enhancing an organization's employee benefits plan. It identifies key objectives to consider during the design process and helps HR professionals plan and design benefits programs that are cost-effective, competitive and that align with an employer's business strategy.