ty ManagementLab® o complete the problems marked with this icon Exercises 10-l.
ID: 358992 • Letter: T
Question
ty ManagementLab® o complete the problems marked with this icon Exercises 10-l. Think of a job you have worked in the past or a job tary benefits were provided? In order of importance package by choosing between tasable cash and ous benefits. What do you believe would be the me valuable benefits for the following employees? a. single person who recently graduated from colles b. forty-year-old married man with two children in that your parents held. What discretionary and volun- to you or your parents, rank the value of each benefit. How valuable was the total benefit package? 010-2. Customized benefit plans permit employees to make college c. single mother with two young children yearly selections to largely determine their benefitExplanation / Answer
10-2)
> For a single person who recently graduated from college, employee policy of sponsoring higher education would be beneficial
> For a forty year old man, with two children, benefits related to his retirement plan are preferred.
> For a single mother with two children, sponsoring kids education would be beneficial
10-11)
Purpose of a customised benefit plan is to meet the varied needs of the employees. Employees can choose from a variety of options to create a benefits package which suits their and their families' needs
10-16)
In today's global environment, we have companies with people from different nationalities working together. Needs of the employees also change based on the country they are from. Also, their preferences would also depend a lot on the employee's nationality. For example, people of one natioanlity might be more health conscious and so they would like to spend on health packages. Also, people's preferences are changing because of the globalization. Customised benefit plans keep employees satisified.
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