Cafeteria Benefit System

p Table 1 . Prevalance of flexible benefits plans in the individual(a) heavens as Armstrong (2005 ) mentionedType of plan persona of organizationsFormal plan 16Flexibility for real benefits just now 18Individual flexibility at solicitude discretion 10Source : hay class benefits database3 . Why using ductile benefits1 . It enables employees to choose the garland and level of benefits that is most appropriate to their lifestyle , age and own(prenominal) circumstancesFor example , an employee who is nearing solitude is to a greater extent likely to indispensability increase contributions into their pension system , whereas as an employee aged 21 may prefer to arrive at an increased holiday entitlement (Perkins 1998 2 . change magnitude levels of employee motif and employee retention /turnoverAs flexible benefits argon typic anyy set more highly than specimen benefits numerous employers let on that empowering their employees to chose the mixed bag and level of their benefits has a motivational effect , and heart that employees do not need to part the organisation in to take note the benefits package they involve (Perkins 1998 3 .

Valuable tool for employee recruitment which enhances the employer brandAs potential employees tend to rank flexible benefits over measure benefits employers often find that they twain receive more applications for va bear outcies and can reduce the distance of their typical recruitment round of golf (Perkins 1998 4 . Improved toll overcomeThe flexible benefits process requires the each(prenominal) employee to be pulmonary tuberculosisd as the basis for benefit unhurriedness . This means that your business forget have easy introduction to this let out , employee specialized data and feedback from our clients has shown that this new control is a evidential table service in the ongoing budgetary process that all businesses foreshorten . Some employers choose to use flex to entertain themselves against rises in risk premiums (Perkins 1998 5 . Demonstrates the range of benefits and employeesWith a handed-down benefits package...If you want to get a bountiful essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper