Once you have great employees on board, how do you keep them from jumping ship? One of the ways is by offering a good benefits package*. HR department has given you a budget to make decisions about the benefits in your team. Step into the shoes of a team leader and decide how you would spend your budget of 1500 EUR per employee per year. How would you best combine benefits for your employees?
You have complete freedom to design ideal benefit package for 4 of your team members. What would you do first? You know that people have various needs and can complain if their needs are not met. How would you differentiate benefits, which are attractive for working mum and a fresh graduate at the same time.
After you accept this challenge, we will send you our current benefit package for your inspiration via email.
Present your ideal benefit package for various Swiss Re employees:
Calculate the cost of the benefits for each employee not exceeding budget 1500 EUR per employee per year. Keep in mind even some non-monetary benefits, such as extra vacation are costs for the company (employee gets paid but is not productive). Other benefits such as home office have no impact on productivity and bring no costs for the company. If you need to base your calculations on certain facts, which are not provided, make reasonable assumptions.
Explain why each of your team members would be attracted by the benefits you chose for them.
Challenge evaluation criteria:
1. How creative and innovative is your proposal.
2. How able are you to meet the needs of different types of people
3. Clarity of argumentation – ability to clearly explain your decisions
4. Formal aspects of your solution – how structured and well-written are your thoughts
*benefits are all additional rewards from an employer except of salary and legally required obligations (example: 20 days of vacation per year)