Employee Liabilities and Risk Management, by Paul Pittman
For many employers the largest liability related to employees after payroll-related cost is employee benefits. Subject to a turbulent and volatile past, now largely over, some management vestiges remain. Employers should examine the management of employee benefits and how tailored it is to their company’s current risk profile and cash flow.
Certainly captives require more administration and an empowered internal advocate who can maximize utilization. But for mid-size and up international companies the benefits can be extensive. With barriers to mobility changing and global salary scales emerging, there is a movement toward common terms, pay, and benefit plans for mobile employees. This article discusses the management of liabilities associated with employee benefit plans and other areas of employment excluding payroll costs, how these risks have changed and how companies should improve the management of those exposures to reduce costs, improve cash flow and attract talent.
Download the full article as published in Global Benefits Vision’s September 2015 issue here (1Mb PDF file).