Directions
Compose a 2-3 page paper that addresses the exercise posed in “Your Turn – Adapting Benefits to a Changing Strategy”beginning on page 480 of the Mikovich text. APA formatting standards must be followed. A minimum of 3 scholarly resources from outside of class need to be used. Please don’t plagiarized, also please refer to the below attachments for further assistance. Thanks
Questions: James A. Klington has a mandate from his boss to cut employee benefit costs. In a company expanding by 10 percent in employees every year, Jim decides to control costs through his selection strategy. Is he crazy? Or crazy like a fox? Explain.Explain the concept of experience rating using examples from unemployment insurance. Would the same concept apply to workers’ compensation? Using the Internet, find out if experience rating plays a role in insurance coverage.The CEO of Krinkle Forms Inc says there is a serious problem with turnover, with data for her observation provided below.
Senority Turnover Rate
0-2 yrs 61%
2-5 yrs 21%
5+ yrs 9%
The CEO wants to use employee benefits to lessen this problem. Before agreeing to look at this as the solution, what should run through your mind as a trained professional? What might you do, specifically, in the areas of pension vesting, vacation and holiday allocation, and life insurance coverage in the effort to reduce turnover?
4. Why are defined contribution pension [plans gaining in popularity in the United States and defined benefit plan losing popularity?
5. Some experts argue that consumer-directed health care is, amongst other things, a great communications tool for employee benefits. Defend this position.