Concept and Brief Description
This chapter is all about employee benefit options, which are vast. Companies can offer nearly anything as a benefit but need to be conscious of the cost of all of the benefits that they offer. Companies must also communicate to their employees what the values of their benefits are so they are appreciated. There are certain benefits that all employers must offer including social security, unemployment insurance, workers compensation, and family and medical leave (unpaid). Even though this seems like quite a bit that must be given, it is very small compared to what other countries require of companies, especially in parts of Europe.
Benefits are such a tricky thing, offer to little and you will not be able to compete with other companies in recruiting. Offer to many and you may spend to much and go out of business.
Key Points to Elicit in Discussion
There are many options with health insurance, how do companies choose what is best for them?
Retirement plans can be very complex and get very expensive.
What are some of the legal issues surrounding benefits?
If you were an employer what would be the benefits you would offer?
What is the coolest benefit you could think of to offer?