Question: please help, instructions are below For this exam, you will be in the position of a Human Resource Manager developing a new Employee Benefits Plan
please help, instructions are below




For this exam, you will be in the position of a Human Resource Manager developing a new Employee Benefits Plan for the company. The company has 42 employees and the average hourly wage is $25.00. Total annual wage expense for the company is $2,184,000 and the President has set the budget for benefits at 20% of that, rounded up to $450,000. The age distribution for the 42 employees is: The President and you have already narrowed down the benefits you want to consider. Those benefits and their annual cost per employee are: Unfortunately, these benefits total more than your budget allows so you cannot offer all the benefits. You can assume if a benefit is offered, it will be utilized by 100% of the employees. You are not allowed to offer a "cafeteria plan" where employees can simply choose the benefits they want. As the HR Manager, you must choose which of the benefits listed above are the best matcl for your employee population (based on the age range provided). You should use information from your readings in our book, the attached article from SHRM and your experience. You may not simply select a benefit and reduce the cost of that benefit to be within budget. These costs per benefit are fixed per employee and cannot be adjusted. Your mission is to write a memo to the President. You'll start by telling her what your memo is about: just a brief reminder that you are developing the new Employee Benefits Plan. Next, you'll present your choices in a table similar to what you see above. Then, in at least 4 paragraphs (4-5 sentences each), you'll explain why you selected the benefits that you selected and why you eliminated the benefits that you eliminated. Your explanation should take into account the age distribution of the employees, the benefit itself, and why you believe your selections are valid. Of course, I'll expect your memo to be free of spelling, grammatical and punctuation errors. Just to be clear, the benefits you offer cannot total more than $450,000 annually. That is about $10,714 per employee or $5,236 less (per employee) than all the benefits listed above. If, as an example, you decided not to offer long-term care insurance, you would be eliminating $2,080 per employee. Grading will be as follows