Evaluate

question 123

Multiple Choice

Evaluate .

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Definitions:

Flexible Benefit Plans

Benefits programs that allow employees to choose from a range of options to create a package that best suits their needs and lifestyle.

Benefit Costs

The expenses borne by employers for the non-wage compensations provided to employees, such as health insurance, pensions, and paid leave.

Entitlement Approach

A method in economic policy or welfare economics where benefits are distributed based on set criteria, often used to ensure that basic needs are met.

Effective Benefit System

A well-designed set of employee benefits that support the wellbeing of employees and contribute to job satisfaction and retention.