Health benefit costs

It is important for employers to eliminate the benefits drawn by retirees to maintain the benefits of current employees. A number of companies are taking into consideration the changes they are likely to experience as a result of increasing health care costs and the dire economic situation.Advertising We will write a custom essay sample on Health benefit costs specifically for you for only $16.05 $11/page Learn More Employers are therefore looking for the most effective ways to reduce such costs (C C H, Incorporated 2003). Elimination of benefits for retirees is a sure way of reducing the costs incurred by an organization, such elimination should be directed to the retirees due to their diminishing role within an organization and their financial position that come about as a result of accumulation of funds during the period of employment. Retirees also draw benefits from organizations that carry out social work. Current employees do not enjoy such a feat . It is however important to reinstate that the reason for the elimination of retirees benefits is the amount of contribution drawn over time that is higher than that of current employees thus a need for employers to create a balance. Employees should be charged more for health benefits as opposed to reducing their contribution to pensions. The reason is that pensions is a mode of saving that caters for the needs of such employees upon retirement while costs incurred as a result of health are termed as recurrent. It is unwise to feel comfortable meeting the health needs which will always form a part of an employee’s life. Pension benefits do not conform to such an ideology. It is worth noting that public employees pay a small percentage of their pension’s costs. This is usually a third or less of the total cost. According to experts this contribution is quite low. It is actually less than 30% of the total cost of the annual pensions plan stated contributions. This mean s reducing the contributions to pension will impact minimally on the overall costs incurred by an employer. In an effort to improve employee satisfaction, it is necessary to study and analyze their expectations especially in terms of finances and motivation. This lays the ground work for initiating corrective measures in case something is a miss. It is inappropriate for employers to reduce employee’s incentives during tough economic times. This only serves to reduce employee loyalty and morale. Employers therefore need to provide channels for employees to voice their concerns in case such an activity is taking place; this is an important way to propagate job satisfaction. The bottom line is that the benefits drawn by employees should not be reduced (Lundy Janes 2009).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More After taking into consideration the above mentioned concepts. An emp loyer should create a strategic plan in an effort to balance between the needs of the employees and their own needs. It is through employers performing their duties efficiently that employees can pick up the trend. These duties include provision of benefits appropriately. Employers can therefore take advantage of new tools related to electronic planning and offer benefits which are timely and accurate. Strategic plans are useful in providing controlled budgets. An employer can achieve such a feat by evaluating the present benefit plans, identification of the goals and objectives of the company, determining strategies that relate to the culture of the company, coordinating the benefit strategies in reference to human resource programs, designing a communication plan and establishing a budget that fully supports this plan. This will be useful in ensuring that employees receive their benefits as planned thus increasing the levels of satisfaction (Lundy Janes 2009). References C C H, I ncorporated. (2003). United States master employee benefits guide. Los Angeles, CA: CCH Incorporated. Lundy, S. Janes, S. (2009). Community Health Nursing: Caring for the Public’s Health. New York: Jones Bartlett Publishers. Sims, R. (2002). Organizational success through effective human resources management. New York: Greenwood Publishing Group. This essay on Health benefit costs was written and submitted by user Ciara W. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

vector lab essays

vector lab essays The apparatus used in this lab is a circular table with degree marks around the edge. There are three pulleys attached to the table. Weight hangers are attached to a central ring with string and run over the pulleys. The central ring is centered around a central pin. 100cos30= 86.6=x-component 100+86.6=186.6=x 100sin30=50=y-component 173.21+50=223.21=y 200sin60=173.21=y-component =50.10+180=230.10 150cos45=106.07=x-component 106.07+-173.205=-67.135 150sin45=106.07=y-component 106.07+-100=6.07 200cos210=-173.205=x-component C=67.4085 200sin210=-100=y-component =-5.16245 100cos20=93.9643=x-component 93.9643+-76.6044=17.3599 100sin20=34.202=y-component 34.202+64.2788=98.4808 100cos140=-76.6044=x-component C=99.999 100sin140=64.2788=y-component =80.003+180=260.003 With this lab we were able to estimate the magnitude and direction of the resultant vector. We then used vector addition to find the magnitude and direction and compared the findings. Our estimates and calculations were very close. The experiment helped us to better understand vectors and their properties. We used trigonometric equations to find the x and y components of the given vectors. y-component=magnitudesin x-component=magnitudecos We then used vector addition to find the x and y components of the resultant vector. With the x and y components we used the equation magnitude ²=(x-component) ²+(y-component) ² to find the magnitude of the vector and the equation ...