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What is an employee benefit plan?
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27th Nov 2009 by Daniel Cross, ChFC
An employee benefit plan is any company sponsored plan such as a 401k, pension, health insurance, life insurance, etc. In order to attract the best workers and stay competitive in the marketplace, companies must have benefits to offer potential employees that makes them want to work and stay with that particular firm. This strategy was first made famous by Henry Ford who implemented a then-unheard of benefit plan and high salary and attracted the best workers from his competition which made him one one the greatest businessmen in US history.
An employee benefit plan is any company sponsored plan such as a 401k, pension, health insurance, life insurance, etc. In order to attract the best workers and stay competitive in the marketplace, companies must have benefits to offer potential employees that makes them want to work and stay with that particular firm. This strategy was first made famous by Henry Ford who implemented a then-unheard of benefit plan and high salary and attracted the best workers from his competition which made him one one the greatest businessmen in US history.
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27th Nov 2009 In Business
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Subjects: employee benefit plan,