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Planning Benefits Strategically

February 9, 2023

The strategic value of benefits programs in organizations cannot be understated. Growth in the cost of providing employee benefits is inevitable. Strategically planning the best and most cost-effective benefits program will be critical to organizational success. Write a 5-7 page paper in which you: Identify and discuss two (2) external and two (2) internal forces capable of influencing the bottom-line impact of benefits programs. How does knowing about these factors affect the organization’s strategic planning? Describe a minimum of three (3) key ways that organizations might expand on defining their benefits and benefits management philosophies. Be specific. Compare and contrast the two approaches to strategic benefits planning referred to as “Top-Down” and “Backing-In”. Based on your current organization’s strategy, which approach would work best? Why? Review the nine (9) outcomes of successfully completed strategic benefits planning initiatives on page 496 of the text book. Then select any 3 outcomes you personally feel might be more important and explain why. Use at least three (3) quality academic resources in this assignment preferably from http://research.strayer.edu Note: Wikipedia and other Websites do not quality as academic resources. NOTE: Please note the importance of using your textbook to find a lot of needed information to help in writing your paper. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; paragraphs are properly indented, and all lines of information double-spaced; references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length. The specific course learning outcomes associated with this assignment are: Define total rewards and describe the advantages of a total rewards approach. Analyze an organization’s strategy, workforce, operating environment, and key stakeholders to identify critical factors in designing a total rewards strategy. Use technology and information resources to research issues in total rewards. Write clearly and concisely about total rewards using proper writing mechanics.

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