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Designing and Planning Benefit
             Program
Dr. G C Mohanta, BE(Mech), MSc(Engg), MBA, PhD(Mgt)
                    Professor
Process of Benefit Planning
Determining the goals and objectives
Assessing and/or selecting benefits
Designing the benefits Package
Monitoring the plan
Determining Goals & Objectives of Benefit Plan
Selecting Benefits
Assess current benefits to see where improvements
 needed or new ones need to be added
Selecting & evaluating benefits is the 1st step in
 translating goals and objectives of a benefit program
Organizations have some choices in benefits they offer
There are benefits as required by legislation
There are customary benefits common to almost all
 organization and
There are benefits those can make benefit package
 unique
Selecting Benefits -
                 Legislation
Social legislation requires that employer make
 expenditures for health & safety of employees
Insurance to be made to indemnify employee’s loss of
 income from illness, injury, unemployment & old age
Law also requires how organization will develop &
 operate specific benefits, like retirement plans
These expenditures are to be incurred, whether
 employer wants to incur it or not and whether employee
 desires the benefit or not
Legally required benefits currently cost employers in
 excess of 10% of payroll cost
Selecting Benefits
Assessing Competition
• knowing what benefits other employers are offering
Organizational Benefit Plan Analysis
• comparison of benefits offered currently with needs &
  preferences of employees
Organizational Financial Analysis
• comparison between direct wages & benefits including
  its cost and employee need and
• employer's ability to pay
Selecting Benefits
Collective Bargaining and Benefits
• through collective bargaining employees receive the
  benefits they want and
• unions are motivated to convince employees about the
  value of benefits bargained for
Who Should Receive Benefits
• part time employees/dependents of employees/retired
  employees/survivors of deceased employees
Employee Choice in Benefits
• each person to decide what benefits to include & how
  much to allocate for each, as per flexible benefit plans
Flexible Benefit Plans
Mix and Match Plans
• employee is offered an amount based on salary, seniority
  & age and he can choose from various benefit options
Modular Plans
• Organization offers various optional benefit programs
  and employee can choose those which best fits his needs
Core-Plus-Option Plans have two parts
• core part provides health and retirement benefits to all
  employees &
• Optional part provides various benefits - employee can
  choose from
Flexible Benefit Plans
Pre-tax Salary Reduction Plans
Permits employees to set aside a portion of wages each
  year on a pre-tax basis to pay for qualified expenses
There are two major types of plans:
• Flexible spending Accounts
- allows employee to pay for expenses, such as, medical
  expenses, reducing employee's gross income
• Premium-Only Plans
- allows employee to pay for insurance premiums
Reducing Costs of Benefits
Health Plans
• Changing an insurance plan to a Preferred Provider
  can reduce costs
Time Off
• holidays can be adjusted if organization grants holidays
  those are not required by law
Retirement
• changing defined benefit plans to defined contribution
  plans
Cost Sharing
Health Plans
• employees to pay a part of their monthly health
  insurance premiums
Time Off
• pay only a portion of salary for certain types of time
  off or share costs with an insurance plan, as in
  disability
Retirement
• all types of retirement plans can be made
  contributory on the part of the employee
Reducing Administrative Cost
Health plans can contain 3 features that help in controlling
   costs
• Wellness Programs
 - programs are intended to reduce future medical claims by
   keeping employees healthy
• Utilization Reviews
- reviews evaluate frequency of employee usage and quality of
   service received
• Case Management
• Overseeing the expenses of illnesses which add up very rapidly
   and balancing care and cost
   Outsourcing the Benefits Function to reduce and control
   operating costs
Monitoring Benefits
Organization keeps careful track of what is happening
 both externally & internally
Needs & preferences of employees likely to change due
 to change in organization's work force
 Surveying employee needs and preferences should be a
 continuing exercise and not a one-time project
Organization can not monitor change in costs of benefits
 provided by outside Insurance Companies
Hence, organizations are developing alternative ways of
 providing the benefits to employees at lower/stable cost

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Designing and planning employee benefit program

  • 1. Designing and Planning Benefit Program Dr. G C Mohanta, BE(Mech), MSc(Engg), MBA, PhD(Mgt) Professor
  • 2. Process of Benefit Planning Determining the goals and objectives Assessing and/or selecting benefits Designing the benefits Package Monitoring the plan
  • 3. Determining Goals & Objectives of Benefit Plan
  • 4. Selecting Benefits Assess current benefits to see where improvements needed or new ones need to be added Selecting & evaluating benefits is the 1st step in translating goals and objectives of a benefit program Organizations have some choices in benefits they offer There are benefits as required by legislation There are customary benefits common to almost all organization and There are benefits those can make benefit package unique
  • 5. Selecting Benefits - Legislation Social legislation requires that employer make expenditures for health & safety of employees Insurance to be made to indemnify employee’s loss of income from illness, injury, unemployment & old age Law also requires how organization will develop & operate specific benefits, like retirement plans These expenditures are to be incurred, whether employer wants to incur it or not and whether employee desires the benefit or not Legally required benefits currently cost employers in excess of 10% of payroll cost
  • 6. Selecting Benefits Assessing Competition • knowing what benefits other employers are offering Organizational Benefit Plan Analysis • comparison of benefits offered currently with needs & preferences of employees Organizational Financial Analysis • comparison between direct wages & benefits including its cost and employee need and • employer's ability to pay
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  • 8. Selecting Benefits Collective Bargaining and Benefits • through collective bargaining employees receive the benefits they want and • unions are motivated to convince employees about the value of benefits bargained for Who Should Receive Benefits • part time employees/dependents of employees/retired employees/survivors of deceased employees Employee Choice in Benefits • each person to decide what benefits to include & how much to allocate for each, as per flexible benefit plans
  • 9. Flexible Benefit Plans Mix and Match Plans • employee is offered an amount based on salary, seniority & age and he can choose from various benefit options Modular Plans • Organization offers various optional benefit programs and employee can choose those which best fits his needs Core-Plus-Option Plans have two parts • core part provides health and retirement benefits to all employees & • Optional part provides various benefits - employee can choose from
  • 10. Flexible Benefit Plans Pre-tax Salary Reduction Plans Permits employees to set aside a portion of wages each year on a pre-tax basis to pay for qualified expenses There are two major types of plans: • Flexible spending Accounts - allows employee to pay for expenses, such as, medical expenses, reducing employee's gross income • Premium-Only Plans - allows employee to pay for insurance premiums
  • 11. Reducing Costs of Benefits Health Plans • Changing an insurance plan to a Preferred Provider can reduce costs Time Off • holidays can be adjusted if organization grants holidays those are not required by law Retirement • changing defined benefit plans to defined contribution plans
  • 12. Cost Sharing Health Plans • employees to pay a part of their monthly health insurance premiums Time Off • pay only a portion of salary for certain types of time off or share costs with an insurance plan, as in disability Retirement • all types of retirement plans can be made contributory on the part of the employee
  • 13. Reducing Administrative Cost Health plans can contain 3 features that help in controlling costs • Wellness Programs - programs are intended to reduce future medical claims by keeping employees healthy • Utilization Reviews - reviews evaluate frequency of employee usage and quality of service received • Case Management • Overseeing the expenses of illnesses which add up very rapidly and balancing care and cost Outsourcing the Benefits Function to reduce and control operating costs
  • 14. Monitoring Benefits Organization keeps careful track of what is happening both externally & internally Needs & preferences of employees likely to change due to change in organization's work force  Surveying employee needs and preferences should be a continuing exercise and not a one-time project Organization can not monitor change in costs of benefits provided by outside Insurance Companies Hence, organizations are developing alternative ways of providing the benefits to employees at lower/stable cost