Varieties of Benefits Plans
Most private organizations now use a defined contribution plan, one that many believe is not as advantageous or appealing to employees as a defined benefit program. Using the week’s assigned resources:
- Discuss the principle reasons that organizations have moved to defined contributions plans from defined benefit plans, and the specific impact to employees.
- Analyze how organizations might enhance the benefits of defined contribution plans to make them more attractive to employees without causing the organization unwanted issues, including fiscal challenges, since that was an original intention of moving from the defined benefit program.
Be sure to cite examples from this week’s readings. APA format.
With these thoughts in mind:
Post by Day 3 a response that answers the above questions and please use at least one of the provided resources. APA format.
-Atkinson, W. (2009). Filling in around the edges. HRMagazine, 54(11), 55–58.
Filling In Around the Edges. HRMagazine, 54(11) by William Atkinson. Copyright 2009 by the Society for Human Resource Management. Used by permission of the Society for Human Resource Management via the Copyright Clearance Center.
This article looks at benefits and the cost for both the employer and employee as well as the shift in cost during a down economy. Voluntary benefits are also discussed.
-Smith, S., & Mazin, R. (2004). Benefits: What makes a benefits package competitive? In The HR answer book (pp. 117–142). New York NY: American Management Association International.
The HR answer book by Shawn A. Smith. Copyright 2004 by Amacom Books. Used by permission of Amacom Books via the Copyright Clearance Center.
This chapter examines the development process of creating a competitive benefits package for employees. Paid time off is also explored as an important component of paid and unpaid benefits.
– Weatherington, B. L. (2008). Income level and the value of non-wage employee benefits. Employee Responsibilities and Rights Journal, 20(4). 291–300.
Income Level and the Value of Non-Wage Employee Benefits. Employee Responsibilities and Rights Journal, 20, 4 by Bart Weathington. Copyright 2008 by Plenum Publishers. Used by permission of Plenum Publishers via the Copyright Clearance Center.
This article looks at two of the most important benefits organizations offer, medical insurance and retirement plans and how employee perceptions of the importance of these benefits differ depending on income levels.
-Society for Human Resource Management. (2010) Introduction to the human resources discipline of employee benefits. Retrieved from PDF. Introduction to the human resources discipline of employee benefits PDF.
This article explores the discipline of benefits within human resources.
Human Resources: Varieties of Benefits Plans