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As the benefits manager in a firm that is metaphorically described as part of the rust belt, in Syracuse, NY, this information would surely influence my design of the employee benefit program. Since the employees in the company are in their middle age (the average age is 43) and are dominated by the male population (83% of the population are male), I would likely design a benefit program that will attract their attention and will make them stay at the company. One idea that comes to mind is pay based on individual performance.
As HR director at Crangle Fixtures, my bonus this year is based on my ability to cut employee benefit costs. This is a pretty complicated situation. However, the most important benefit for employees is the health insurance benefits which are also the most expensive one. As such, the first thing that I would do is to explore alternative health insurance plans in the area. Another way to help reduce the expenses of the employers is to ask if the employees would want to contribute to their health insurance plans which are called employee cost sharing.
The key factors that affects the decision of the person to join a firm is the level of pay and the pay system characteristics. The job candidates would look for organizations or companies which somehow “fit” what they want and their personalities. The reward system in organizations or companies must be designed in order to attract the desired people of the company. The factors that must be considered in designing the reward system would be personalities and values that the company sees in their future employees. There are also other rewards which affects the decision of the employees to stay such as work variant and challenge in the workplace, social reasons, development of opportunity in the company, status recognition, level of work importance and the benefits of working for the company such as insurance packages and paid vacations.