Scenario 9.1
Colette University, an institute of higher learning that educates confectionery chefs, offers a very attractive benefits package.Costs associated with the benefits are about double those of rival institutions.However, the university's administrators feel thatextensive benefits attract the most talented faculty and staff in the world.Due to recent societal trends in fitness and health, Colette University has experienced a downturn in its funding support from global confectionery corporations seeing lower profits.The university's budget is adversely impacted.Joy, the human resource manager of the university, has been asked to find ways to reduce expenditures on benefits so that important university programs do not suffer.
-Refer to Scenario 9.1.Joy is considering to implement a benefits plan in which employees of the university will be asked to choose benefits that best suit their individual needs.Which of the following benefits plans is Joe planning to implement?
A) Cafeteria-style benefits plans
B) Executive compensation
C) Defined benefit plans
D) Private pension plans
E) Wellness programs

Question

Quizplus · Accepted Answer

Joy is considering implementing a cafeteria-style benefits plan in which employees can choose benefits that fit their individual needs. This type of plan allows for cost savings as employees can select benefits that are important to them and decline others that they may not need, reducing the overall cost of benefits for the university.

Scenario 9.1 Colette University, an Institute of Higher Learning That Educates Confectionery