If a company has poor benefit program,what problems might be solved by cafeteria approach? what other changes do you suggest to overcome company's recruitment problems? Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
What is the cafeteria approach ? Never heard of it before ?
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1 reply by Riyadh Salih
Dec 07, 2017 12:22 AM
Riyadh Salih
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It is a Flexible benefit programs allow employees to select a mix of benefits and services that match their individual needs, the company provide an account with a specified number of dollars then the employees shop for benefits offered by the employer with cost sheet describe each benefit.
It is a Flexible benefit programs allow employees to select a mix of benefits and services that match their individual needs, the company provide an account with a specified number of dollars then the employees shop for benefits offered by the employer with cost sheet describe each benefit.
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Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Each person must feel they are more rich working for the organization than without working for it, where rich does not mean material goods only. Saving Changes...
You could provide a lost of core benefits and then optional benefits for employees to choose from, but this is normally negotiated at the individual level rather than picking from a shelf full of optional benefits. It becomes very difficult to manage and maintain so many options. Saving Changes...
This is a common approach regardless of the financial constraints on the benefits program - the key is whether the standard amount per individual is sufficient to enable them to choose what they would consider to be a reasonable benefits plan to meet their needs.
Most folks will accept a basic benefits plan so long as other components of the compensation plan and the nature of their job (e.g. role, reporting relationship, team dynamic) are good - the exception being those who require a higher than average level of care (e.g. families with young kids, sole income earner families or those with chronic illnesses).
If funding for benefits plans is tight, the company should look into other aspects of the total package - development opportunities, career advancement, volunteering, and so on...
Kiron
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1 reply by Pravin Kajarekar
Dec 06, 2017 7:45 AM
Pravin Kajarekar
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It is important to plan for future of the family (marriage, higher education, business opportunities) and for a safe and healthy retirement.
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Drew CraigSr. Agile & Product Coach| VanguardPhiladelphia, Pa, United States
Reasonable benefits are subjective for each individual. For me personally, I'm concerned more with the core-benefits (medical, 401K, etc.) over free lunch or an air hockey table. Saving Changes...
Pravin KajarekarPM III| IBM India Private LimitedMumbai, Maharashtra, India
You create your own benefits by each one contributing to a Pension Fund or some other investment. The Returns will act as benefits. Saving Changes...
Pravin KajarekarPM III| IBM India Private LimitedMumbai, Maharashtra, India
Dec 06, 2017 7:02 AM
Replying to Kiron Bondale
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Riyadh -
This is a common approach regardless of the financial constraints on the benefits program - the key is whether the standard amount per individual is sufficient to enable them to choose what they would consider to be a reasonable benefits plan to meet their needs.
Most folks will accept a basic benefits plan so long as other components of the compensation plan and the nature of their job (e.g. role, reporting relationship, team dynamic) are good - the exception being those who require a higher than average level of care (e.g. families with young kids, sole income earner families or those with chronic illnesses).
If funding for benefits plans is tight, the company should look into other aspects of the total package - development opportunities, career advancement, volunteering, and so on...
Kiron
It is important to plan for future of the family (marriage, higher education, business opportunities) and for a safe and healthy retirement. Saving Changes...
Mansoor MustafaSenior PM| Government DepartmentRawalpindi Punjab, Pakistan
Core Benefits are more important than others. Saving Changes...
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