Asked by Jenna Grace Milionis on Jun 14, 2024
Verified
Potential benefits to the company of early retirement incentive plans are
A) lower payroll costs.
B) higher turnover rates.
C) more pension claims.
D) hiring younger employees.
E) increased employee motivation.
Early Retirement Incentive Plans
Early Retirement Incentive Plans are programs offered by employers to encourage employees to voluntarily retire before their normal retirement age, often with enhanced benefits.
Payroll Costs
Expenses related to compensating employees, including wages, salaries, and benefits.
Higher Turnover Rates
A situation where an organization experiences an above-average frequency of employees leaving or being replaced within a given period.
- Elucidate on the diverse array of perks available to workers, including those that accommodate family requirements and initiatives encouraging early departure from the workforce, together with their effects on maintaining a balance between work and home life.
Verified Answer
BW
Bailey WilsonJun 14, 2024
Final Answer :
A
Explanation :
Early retirement incentive plans can lead to a lower payroll cost for the company, as older employees with higher salaries may be encouraged to retire early. This can result in cost savings for the company in the long term. However, the other options given are not necessarily benefits of early retirement incentive plans. Higher turnover rates may result in a loss of experience and knowledge, more pension claims can increase costs for the company, and hiring younger employees may not always be advantageous for the company. Increased employee motivation may be a potential benefit, but it is not always guaranteed and may not be enough to outweigh the potential costs.
Learning Objectives
- Elucidate on the diverse array of perks available to workers, including those that accommodate family requirements and initiatives encouraging early departure from the workforce, together with their effects on maintaining a balance between work and home life.