Benefit Plan Objective Benefits are a key component in any company's total compensation plan. Critical thinking and analytical processing must dominate the discussion when selecting benefits to offer as part of a benefits plan. This is necessary to ensure that the right benefits not only connect to employee preferences but also protect the financial health of the company. These objectives can be achieved by, 1). Determine which benefits are important to various employee groups by conducting surveys, analyze and interpret the data logically, and implement changes accordingly. 2). Research current business market and industry standards to ensure the organization's benefits are competitive and positioned to attract top performers. 3) Determine current financial health and impact on the organization to ensure the benefits program is cost-effective and targeted to desired outcomes. These elements will allow the company to promote an effective compensation program while establishing a long-term collaborative working relationship between management, employees and the organization. Benefit Plan Choices Benefit plan design is a flexible plan for a car dealership. The cost associated with the flexible benefits plan is based on the premise that the healthcare component is the primary determining factor for participating in the program. The remaining options are Ala-Carte elections. Employees will have the option to customize the remaining incentives, based on their needs. The following table lists the different benefit options and the percentage cost associated with each option to create a complete benefits package.Exhibit 1Flex Healthcare Ala Carte Plan A Plan B Plan CHealth Care Pl......middle of sheet... .. .have a limit on employee plan administration. The benefits management team which will consist of three team members and together with an outsourced provider to help in the registration, verification and administration of the benefits program. This team will share responsibility by establishing last name letters to ensure responsiveness to customers and serve as a point of contact to resolve any uncertainties in the benefit plan. The outsourced provider will conduct annual professional development webinars to address changes in legal implications, changes in plans, changes in policies and best practices for employees and benefits managers. The purpose of the overlay in the benefits section is to maintain the highest level of employee satisfaction with the benefits. Works CitedMilkovich, G., Newman, J., & Gerhart, B. (2014). Compensation. (11th ed.). New York: McGraw-Hill.