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Home/Management/a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance

a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance

a. When reducing the benefits, I would start by selecting secondary benefits that would not have a grave impact on the lives of the employees. For instance, between entertainment and periodic target benefits, I would reduce periodic target achievement benefits since it would not interfere with the constant salary that an employee has been used to. However, I would be sensitive to the percentage and mode of implementing the reduction to make transition and acceptance less painful.

b. Benefits:

  1. Medical: I would not change it because of serious impacts in the short and long-term.
  2. Pension: I cannot interfere with pension benefits.
  3. Paid vacation: It would be second on the list, on the basis of the current remuneration package per employee, since this benefit can be revised.
  4. Paid holidays: I would reduce paid holiday first by a matrix because the impact is secondary and does not affect the constant salary.
  5. Paid sick leave: I cannot reduce this benefit because it has a direct impact on the health of the employees.
  6. Long-term disability: This benefit will be the third target for reduction in order to standardize the change. It will be done using the prevailing market economic forecast as a ratio of the basic salary.
  7. Life insurance: The benefit cannot be altered.
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Academic.Tips. (2021) 'a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance'. 10 June.

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Academic.Tips. (2021, June 10). a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance. https://academic.tips/question/a-if-you-were-responsible-for-reducing-benefits-costs-what-steps-would-you-take-to-make-your-decision-b-in-order-of-priority-explain-which-benefits-you-would-change-how-you-would-change-them-an/

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Academic.Tips. 2021. "a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance." June 10, 2021. https://academic.tips/question/a-if-you-were-responsible-for-reducing-benefits-costs-what-steps-would-you-take-to-make-your-decision-b-in-order-of-priority-explain-which-benefits-you-would-change-how-you-would-change-them-an/.

1. Academic.Tips. "a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance." June 10, 2021. https://academic.tips/question/a-if-you-were-responsible-for-reducing-benefits-costs-what-steps-would-you-take-to-make-your-decision-b-in-order-of-priority-explain-which-benefits-you-would-change-how-you-would-change-them-an/.


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Academic.Tips. "a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance." June 10, 2021. https://academic.tips/question/a-if-you-were-responsible-for-reducing-benefits-costs-what-steps-would-you-take-to-make-your-decision-b-in-order-of-priority-explain-which-benefits-you-would-change-how-you-would-change-them-an/.

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"a. If you were responsible for reducing benefits costs, what steps would you take to make your decision? b. In order of priority, explain which benefits you would change, how you would change them, and why? 1. Medical 2. Pension 3. Paid vacation 4. Paid holidays 5. Paid sick leave 6. Long-term disability 7. Life insurance." Academic.Tips, 10 June 2021, academic.tips/question/a-if-you-were-responsible-for-reducing-benefits-costs-what-steps-would-you-take-to-make-your-decision-b-in-order-of-priority-explain-which-benefits-you-would-change-how-you-would-change-them-an/.

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From your own experience, share an example of a performance management process that works well and why or share an example of a process that does not work well, and why not.
a. Think about your organization, or an organization you are familiar with. If there was a need to reduce operating costs, what options are available? b. What do you see as the best options for an organization to reduce total compensation costs? Provide some context for your recommendations and discuss their prioritization.
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