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Technology Plus should focus on keeping the benefits that employees value most and that directly protect them from major risks. These include supplementary health and medical insurance, long-term disability coverage, basic group life insurance, and the employee assistance plan with mental health services. These benefits are essential not only for employee well-being but also for reducing absenteeism and turnover (Dessler, 2022). To manage costs, the company could adjust rather than eliminate some programs. For example, life nsurance could be reduced from three times salary to two, with employees given the option to purchase more coverage themselves. Accidental death and dismemberment could be made voluntary. Dental and paramedical services might include higher deductibles, annual maximums, or a focus on generic drugs to help control expenses (Dessler, 2022). Wellness programs should continue but in a targeted way, emphasizing initiatives with a clear return such as smoking cessation or low-cost fitness challenges.

Retirement benefits present a significant cost. Freezing the defined benefit plan for current employees and moving new hires into a defined contribution or Group RRSP/DPSP plan would help stabilize expenses while still providing meaningful retirement support (Dessler, 2022). Family-friendly benefits like childcare and eldercare should not be cut entirely but could shift to lower-cost referral services or limited backup care, which still helps reduce absenteeism without the heavy expense of subsidies. Finally, adopting pooled paid-time-off banks and stronger absence management would allow more flexibility for employees while helping the company track and control leave (Dessler, 2022).

1. Would a flexible benefit program save this organization money if administered properly?

A flexible benefits program would likely save Technology Plus money while also improving employee satisfaction. These plans give employees a set budget of credits and allow them to choose benefits that fit their needs, as long as legally required items like CPP, EI, and workers' compensation are included (Dessler, 2022). A younger worker might choose more dental and vision coverage, while someone closer to retirement might prioritize pension or long-term disability. This flexibility helps employees feel they are getting value while allowing the company to cap its total costs.

The savings would depend on careful design. Higher deductibles, generic drug formularies, and health care spending accounts are proven ways to contain costs (Dessler, 2022). At the same time, strong communication is key so employees understand their options and make informed choices. Outsourcing administration or using software tools could reduce the workload for HR and ensure the plan runs smoothly.

A well-run flexible plan would show employees that Technology Plus still values their well-being, even while tightening costs. It balances financial sustainability for the company with choice and fairness for employees, which is exactly the kind of approach needed in today's competitive labor market.

Reference Dessler, G. (2022). Human resources management in Canada (Canadian ed., 15th ed.). Pearson Education Canada. Chapter 13.