HRM430 Role of Benefits

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HRM430 Role of Benefits
Discuss the role of benefits in compensation. Review the primary reasons an organization…

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HRM430 Role of Benefits

HRM430 Role of Benefits

Discussions Week 4 All Students Posts 39 Pages 

Discuss the role of benefits in compensation. Review the primary reasons an organization provides benefits to its employees; predict future trends in relation to employee benefits. The term “Total Rewards” is commonly used in business today to represent the sum of cash compensation (salaries and wages), health benefits and retirement plans.

Discuss the role of these benefits in regard to an employee’s total compensation package.  Review the primary reasons an organization provides these benefits to its employees but most important, think about the changing times we live in with rising costs of benefits…and how so many companies are changing philosophies on what their obligations should be.  What is the difference between defined contribution vs. defined benefit programs?  Which have become more cost-effective for employers? What is the range of match percentages across good and poor plans?  What are the primary reasons for this unfortunate trend?…