Written Assignments – Journal (140 Points) 3-5 pages
Section I
There are two written assignments each worth 70 points Total 140.
The student will create a paper, double-spaced, on a company of their choosing and summarize the benefits that are offered and explore why the company chose those benefits. The objective is to gain a better understanding of the various benefits offered, understand how employers strive to minimize risk for employees, funding involved, and employee reaction. Information may be obtained from written material and/or talking with others. One documented interview with an employee/supervisor/HR at the company.
Section II
One portion of the journal (worth 70 points) will include the current political realities surrounding benefits, e.g., the position of the political parties involving topics we cover, e.g., Social Security, Medicare, Medicaid, taxation of benefits, leave programs, etc.
More on Section I
Choose a company that you are familiar with or would like to research. It can be your own company or where you work. You will research the companys benefit offerings based on topics and information in this course. I expect a thorough paper. You will describe their benefits and provide additional information as below. The objective is to gain a better understanding of the various benefits that are available and offered and the funding or cost involved. You should also have an understanding as to how government policies impact employers and their offering of benefits, e.g., health reform, taxation, COVID.
A significant part of this is to interview someone at the company. Ideally it will be an HR professional who is familiar with the benefit offerings. It can also be someone who works at the company. If you choose the later, you will sometimes find that they are not aware of all the benefits.
Another portion of the journal will include the current political realities surrounding benefits, e.g., the position of the current Administration (Trump) and political climate on topics we cover, e.g., Social Security, Medicare, Medicaid, taxation of benefits, leave programs, etc.
Grading: You will be graded on the thoroughness of your journal in regards to the topics we discuss and information below. I expect correct grammar, spelling, and punctuation.
A. Your description of the company you chose to research. 5 points
(The name of the company, large or small employer (# of employees and types, e.g., managers/executives), local/global, what is the business, what is their objective in providing benefits. Average age of the employees who are eligible. Who is eligible for the benefit? How do they decide/plan on the benefits to be offered? Who pays or funds the benefit? (HINT: You will find that this varies by the benefit being offered.)
B. Conduct an interview 60 points Total 60 points
Summarize your interview with a company official (sometimes this is HR or a manager/executive) 60 points
(Include the name of the individual you interviewed and their title and contact information. HINT: Research the company in advance by reviewing their website, if available. Ask clarifying questions during your interview)
Questions to ask at a minimum:
· How/why did they choose the benefits they currently offer? In other words, what is their decision making process?
· Who pays for the benefits? (Note: This will vary according to the topic)
· How much of their compensation package is devoted to benefits? For example, 30-35% of salary. You are looking for a fringe rate, i.e., a percentage that results from dividing the cost of an employees fringe benefits by the wages paid to the employee.
· How do they communicate the benefit to employees? What method do they use to educate employees? Do they use social media to communicate benefits? If so, what do they use.
· What impact (if any) has COVID impacted the benefits they offer to employees.
From the interview, I expect you will gain insight into the structure of the company, the benefits they offer, why they offer them, how they communicate them, and their challenges at administering their benefits.
Topics to be covered in your journal. Information can either be obtained from the interview or supplemental information.
You will describe the benefits offered. At a minimum provide information on the following:
· Medical Insurance
· Life Insurance Who is the insurance company?
· Disability Insurance (Includes leave)
· Voluntary Products or Cafeteria Plan
· Retirement – What kind of plan do they have? Defined Benefit or Defined Contribution? Describe the contribution rate. Is there a matching on the defined contribution?
C. Brief Summary/Conclusion What do you think of their benefits package? No more than one paragraph. Id like your reaction to what they offer. 5 points
Section II 1-2 pages 70 Points
Section II
One portion of the journal (worth 70 points) will include the current political realities surrounding benefits, e.g., the position of the political parties involving topics we cover, e.g., Social Security, Medicare, Medicaid, taxation of benefits, leave programs, etc
Summarize the position of the various political parties, e.g., Democrats, Republicans in regards to social insurance programs and other major topics we have covered in the class, e.g., healthcare. Choose 2 topics of interest, e.g., parental leave or medical insurance, Social Security, Medicare, etc. What is the stance for each party? What impact do/would these policies have on the employer?
You also need to cite your sources. No need for a specific format but sufficient for me to understand where you obtained your information.
EXTRA CREDIT What did you learn? 2 points extra credit
DUE DATE: May 4, 2021
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