Study Of B Company Employee Benefit Plans

Employee benefit is important contents to individual income and economic security. According to 2007 Nanjing Salary Average of Employee released in July 2008, the salary average of employee in 2007 is RMB35,908.00, it is estimated that the statutory benefit average accounts for 24% of monthly income of employee, while employer bears accounting for 49.5% of employee monthly income, which does not include other volunteer benefits.In B company, the cost of benefits has accounted for 42 % of full pay. There is a growing view that benefit is one of the key factors to decide whether this measure is effective to attract and retain employees. The level of benefits and programs designed for both employers and employees have a great significance. Employee benefits have tangible value. It, in many ways, affects the staff's decision: for whom work, separate or stay and when to retire.Because B company is located in Nanjing, with the Yangtze River Delta's fast economic growth, particularly in Shanghai, Suzhou, Wuxi and Changzhou cities, many local people continue move to those cities in order to a higher income and better quality of life, B company has been undergoing unprecedented pressure, the pressure is mainly reflected in the loss of young staff and technical personnel, the lack of attraction of key personnel retention plan, the difficulty of the introduction of technical personnel, staff costs increase, the drop in satisfaction on employee benefit design and so on.For these reasons, the papers expand research from the following aspects: (1) to research and analyze the current related benefit theory, to study the different characteristics of the benefit theory and the scope of application; (2) to introduce in detail B company: highlight the company's size, staff composition, four aspects of compensation system and benefits plans; (3) to analyze in emphasis the main problems in current benefit plan: qualification-oriented compensation, unreasonable benefit composition types, bias from the company management on employee benefits plan, problems in the management of benefit plan; (4) to propose the plan for improving B company's benefit programs and to analyze in emphasis the plan of improvement from finance and internal and external environment to demonstrate the feasibility of the new benefit plan. to re-design a new benefit in accordance with B company's characteristics through combination of external environment and the present market trend. Through the research, the paper proposes a plan of improvement with the purpose of providing a view for HR managers and the company management who are concerning employee benefit and striving for interests for majority of the employees.