Aims and objectives of this chapter:
• Introduce the current issues and challenges related to the cost of employee benefits
• Discuss different approaches of benefit cost containment
• Explain various strategies for cost containment in the public, private and not-for-profit marketplace
• Explain the benchmarking of an employee benefit program
• Analyze the impact of Human Resources departments on cost management
• Address the key ratios to evaluate the cost management of employee benefit programs
As covered in various parts of this book, employee benefit costs are on the rise, and this has been true for a number of years. This is disconcerting for most employers, and much has been discussed and written about ...