Understanding the real risks of changing employee benefit plans.
In an environment of constant change, corporations are looking to alter employee benefits programs to make them more responsive to employee and business needs. A complete risk assessment process is the key to preparing for changes to employee benefits programs by providing employers with an analysis of cost savings against the potential negative ramifications of change. This article outlines the steps involved in a complete review of risk assessment. It then discusses how employers can develop successful change management communication strategies if, after conducting a risk assessment, employers decide to move forward with alterations to their employee benefits programs.
Kane
Jon
J
Labor Relations and Employment Law Group, Pepper Hamilton LLP, USA.
St Amour
Jeffrey
J
D003142:Communication; D019461:Employee Retirement Income Security Act; D017049:Employer Health Costs; D006264:Health Benefit Plans, Employee / Q000191:economics / Q000639:trends*; D006801:Humans; D016365:Liability, Legal; D017146:Models, Organizational; D009936:Organizational Innovation; D010415:Pensions; D018570:Risk Assessment / Q000379:methods*; D012456:Salaries and Fringe Benefits / Q000191:economics / Q000639:trends*; D014481:United States