As discussed, benefits and compensation can be considered as one of an organization’s largest operating costs. In order for an organization to ensure that it is spending its dollars efficiently, HR and senior leadership must accurately determine which benefits to offer and how they will be administered.
Using your readings and other peer-reviewed sources, address the following to prepare a quick reference chart for HR and other organizational leaders:
- Document benefits that are required by law (assume the organization is U.S. based).
- Illustrate benefit preferences of employees, and then be sure to consider the diverse nature of today’s workforce.
- Explain key benefits that enable organizations to effectively compete for talent. Consider retention for this component as well.
- Determine the types of benefits that are more cost-effective to purchase and manage.
Your chart can be in any format you like, using programs such as Word, Excel, or other you are familiar with.
Support your assignment with at least five scholarly or professional resources. In addition to these specified resources, other appropriate scholarly resources, including seminal articles, may be included.
Length: complete chart meeting all assignment criteria, not including title and reference pages
Your assignment should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.