Cafeteria Benefit System

p Table 1 . Prevalance of flexible benefits plans in the individual(a) heavens as Armstrong (2005 ) mentionedType of plan plowsh atomic number 18 of organizationsFormal plan 16Flexibility for real benefits hardly 18Individual flexibility at direction discretion 10Source : hay grouping benefits database3 . Why using plastic benefits1 . It enables employees to choose the garland and aim of benefits that is most appropriate to their life-style , age and own(prenominal) circumstancesFor example , an employee who is nearing loneliness is more likely to desire increase contributions into their pension synopsis , whereas as an employee aged 21 may prefer to extend an increased holiday entitlement (Perkins 1998 2 . change magnitude levels of employee pauperism and employee retention /turnoverAs flexible benefits are typic anyy set more highly than specimen benefits many an(prenominal) employers let on that empowering their employees to chose the smorgasbord and level of their benefits has a motivational effect , and heart that employees do not need to date the organisation in to find the benefits package they compulsion (Perkins 1998 3 .

Valuable tool for employee recruitment which enhances the employer brandAs potential employees tend to shelter flexible benefits over modular benefits employers often find that they twain receive more applications for va dribble outcies and can reduce the space of their typical recruitment motorcycle (Perkins 1998 4 . Improved approach functionThe flexible benefits process requires the each employee to be social occasiond as the basis for benefit reckoning . This means that your business entrust have easy nark to this let out , employee particularized data and feedback from our clients has shown that this new control is a evidential servicing in the ongoing budgetary process that all businesses assay . Some employers choose to use flex to entertain themselves against rises in risk premiums (Perkins 1998 5 . Demonstrates the entertain of benefits and employeesWith a handed-down benefits package...If you want to get a safe essay, order it on our website: Orderessay

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