Benefits are a crucial factor of total employee compensation. This course will provide comprehensive knowledge of building and administering an effective benefits program.
Identify the most competitive benefits offered by employers, and the strategies, tools, and techniques to implement
Learn to control costs, yet maintain attractive benefits
Understand basic methods of underwriting and financing group insurance plans
Explore retirement/savings plans, COBRA and Protected Leave Administration, and regulatory compliance
About this course:
Employee benefits are expensive and important to any organization, accounting for nearly 40 percent of total employee compensation. This comprehensive course provides essential information for evaluating and designing programs to meet corporate objectives. Technical jargon is demystified, and the interesting human side of employee benefits is examined. Instruction covers the most competitive benefits offered by employers and related administrative strategies, tools and techniques; how to control cost and still attract and retain employees; basic methods of underwriting and financing group insurance plans, e.g., health care; an overview of popular 401(k) plans, similar retirement/saving plans and regulatory compliance issues; COBRA and Protected Leave Administration; and practical application of managing an employee benefit program with a section 125 environment.
Prerequisites
MGMT X 450 Elements of Human Resources Management or consent of instructor.
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