Here is the synopsis of our sample research paper on Saussy's "Managing Costs Using Common 'Cents". Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
4 pages in length. Benefits are a necessary evil in contemporary commerce if a given organization is going to hold on to its workforce; however, the ever-escalating costs associated with providing compensation packages mandates companies to re-evaluate what they purchase, how much they can get for as little a price and whether certain components should be traded in for other, more valuable alternatives. No additional sources cited.
Page Count:
4 pages (~225 words per page)
File: LM1_TLCSaussy.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
companies to re-evaluate what they purchase, how much they can get for as little a price and whether certain components should be traded in for other, more valuable alternatives.
II. MAIN POINTS There was a time when employee compensation was nothing more than a minor supplementation to the workers standard salary structure.
Today, however, benefits are just as important - and sometimes even more so - than the basic earned wage. Smart companies are becoming much more open-minded in their
approach to pay, evaluation, and rewards systems in order to determine just where they stand in the highly competitive benefits market. Compensation packages - from corporate executives all the
way down the chain of commands - help employees stay afloat in an often slow or burned out economy, affording them such luxuries as health insurance. However, providing these
benefits can cost the company a considerable amount of money if every facet of a given policy option is not thoroughly examined for what the author calls "every cost driver
and the appropriate factor for it" (Saussy, 2005, p. 28). III. AUTHORS CONCLUSION Saussy (2005) cites the need for three primary components when working toward cutting costs from the
inside out: metrics understanding, contractual audits and benchmarking analysis. Initially, employers must have a fundamental understanding of how health insurance is priced, where hidden costs exist and if it
is time to move to another carrier. Secondly, the insurance policy is not the only place where hidden costs exist, inasmuch as the company may also have undetected -
and wholly unnecessary - expenses such as dependent eligibility and duplicate coverage. Lastly, benchmarking serves to determine the relationship between benefits programs and "the overall scope of a business
...