I enjoyed reading your responses thus far to this discussion regarding the Compensation and Benefits Strategies
I enjoyed reading your responses thus far to this discussion regarding the Compensation and Benefits Strategies video and I am glad to hear that you were able to relate the scenario from the video to one that was experienced in your place of employment.
As it stands, requirements for employee benefit plans continue to change as a result in the numerous changes in federal and state legislation. Specifically, there has been an increase in corporate wellness programs or plans which allow companies to be able to manage their health care expenses by empowering their employees to take greater steps to make themselves healthier in their everyday actions. These programs are very popular and are almost commonplace in numerous workplaces throughout the country and worldwide. After all, given that the cost of an employee makes up nearly half of the budgetary expenditures within an organization, then a form of cost control would be to empower employees to take better care of their health by leading healthier lifestyles.
Accordingly, I am in agreement that it is necessary for organizations to reduce the number of claims in order to reduce the cost of health benefits. Therefore, offering health and wellness programs is beneficial for both the employer and the employee. Although some choose not to participate, it may very well be because they are not knowledgeable enough to make the decision as to which plan may be the most advantageous for them or their families. However, often times, even with this and other added benefits that are offered and provided, many employees are not interested or choose not to participate.
Class, that being said, what advice would you give to assist with increasing participation?
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