Assignment: Planning Benefits Strategically
The strategic value of benefits programs in organizations cannot be understated. Growth in the cost of providing employee benefits is inevitable. Strategically planning the best and most cost-effective benefits program will be critical to organizational success.
Write a 5-7 page paper in which you:
1. Identify and discuss two external and two internal forces capable of influencing the bottom-line impact of benefits programs. How does knowing about these factors affect the organization's strategic planning?
2. Describe a minimum of three key ways that organizations might expand on defining their benefits and benefits management philosophies. Be specific.
3. Compare and contrast the two approaches to strategic benefits planning referred to as "Top-Down" and "Backing-In". Based on your current organization's strategy, which approach would work best? Why?
4. Review the nine outcomes of successfully completed strategic benefits planning initiatives. Then select any 3 outcomes you personally feel might be more important and explain why.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Define total rewards and describe the advantages of a total rewards approach.
• Analyze an organization's strategy, workforce, operating environment, and key stakeholders to identify critical factors in designing a total rewards strategy.
• Use technology and information resources to research issues in total rewards.
• Write clearly and concisely about total rewards using proper writing mechanics.