Quantifying the benefits of anyone’s program is more difficult than estimating its costs. It is also difficult to estimate the costs of failing to implement programs that would reduce absenteeism, turnover, and low productivity.
Yet employers will increasingly devote more attention to doing this as benefit options proliferate and as their costs increase.
Human resource managers in all areas are being asked to demonstrate how their programs and actions contribute to the bottom line. Nowhere is this more evident than in the management of benefits.
With adequate cost and effectiveness data for various benefit options, human resource managers are in a better position to make strategic decisions about which benefits programs an organization should have.
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