Benefits package design for whom
Wayne McGraw greeted Robert Peters, his next interviewee, warmly. Robert had an excellent academic record and appeared to be just the kind of person Wayne’s company, Beco Electric, was seeking. Wayne is the university recruiter for Beco and had already interviewed six graduating seniors at Centenary College.
Based on the application form, Robert appeared to be the most promising candidate to be interviewed that day. He was 22 years old and had a 3.6 grade point average with a 4.0 in his major field, industrial management. Robert was not only the vice president of the Student Government Association, but also activities chairman in his social fraternity. The reference letters in Robert’s file reveal that he was both very active socially and a rather intense and serious student. One of the letters from Robert’s employer during the previous summer expressed satisfaction with Robert’s work habits.
Wayne knew that discussion of benefits could be an important part of the recruiting interview. But he did not know which aspects of Beco’s benefits program would appeal most to Robert. The company has an excellent profit-sharing plan, although 80 percent of profit distributions are deferred and included in each employee’s retirement account. Health benefits are also good. It also has long-term care insurance. The company’s medical and dental plan pays a significant portion of costs. A company lunchroom provides meals at about 70 percent of outside prices, although few managers take advantage of this. Employees get one week of paid vacation after the first year and two weeks after two years with the company. Two weeks are provided each year for sick leave. In addition, there are twelve paid holidays each year. Finally, the company encourages advanced education, paying for tuition and books in full, and, under certain circumstances, allowing time off to attend classes during the day. It also provides scholarships for dependents.
Refer to the questions below and write your answers in not more than 2000 words. Identify and explain the following
- Based on this case study, what is the importance of job analysis and how talent management programs will help the employees in this organisation.
- Explain the importance of providing benefits to employees and what aspects of Beco’s benefits program are likely to appeal to Robert.
- In today’s work environment, what additional rewards and benefits might be more attractive to Robert and what aspects of Beco’s benefits program would likely be the least appealing to Robert? Discuss.
- How can this organisation improve their recruitment and selection method? Discuss.
- Explain what would be the best way of interviewing job candidates for this organisation.