why pension plan is beneficial for employees?

HRPR301 - COMPENSATION AND BENEFITS INTERSESSION 2020 WRITING ASSIGNMENT 3 First Class Books (FCB) first opened its doors in 1985 and has had a long and successful history selling books to the local market. The company was started by Michelle Book (working with a few part time employees) and has progressed through the years to now include 4 locations with a total of up to 100 employees. One of the reasons that FCB has been so successful is that Michelle has a core group of long time employees who have helped her to grow her business. Many of those employees will be retiring soon, or reducing their hours, and she wants some of her part time employees to fill their places and be with the business for the next several years and beyond. Unfortunately, business hasn't been very good for the last couple of years and money is very tight. EMPLOYEES: . There are 20 full time employees (4 per location) who work 35 hours per week. Most of these 20 have been with FCB since 1985. There are 60 part time employees (15 per location) who work between 15-25 hours per week, depending on how busy the stores are. The remaining 20 employees are casual and are only called in for work when the stores are busy. Their hours are variable from week to week. Michelle will be retiring soon and wants to hand the business over to her son, Brian. Brian has always found it a bit frustrating to work for his mother because Michelle doesn't have a lot of formal processes in place and while Michelle loves her books, her customers and her employees, she is not much of a businesswoman and the company is currently in financial trouble. Brian is sure he can turn things around and has a plan to take First Class Books into the future. As part of that plan, Brian wants to introduce a formal Indirect Pay system. Pretend that you are Brian and answer the following question: Which Indirect Pay benefits are you going to include in your plan, and WHY have you chosen the benefits that you did? NOTE 1: Make sure you fully explain the reasons why you have chosen the benefits that you did. For example: You might say that Brian is going to offer dental benefits but if that is all you say, you will not receive any marks because it is NOT a complete answer. Your answer must discuss WHY Brian has chosen dental; you must provide reasons for your choices. NOTE 2: Do NOT include Mandatory Benefits in your answer as these must be included for legal reasons. You will NOT receive any marks for mentioning these (CPP, EI, Workers' Compensation). I am looking for your ideas and the reasons for those ideas; you will not receive marks if your answer comes from the textbook, the PowerPoint slides, or other external sources. I want to know what you think and why you think that way. HRPR301 - COMPENSATION AND BENEFITS INTERSESSION 2020 WRITING ASSIGNMENT 3 First Class Books (FCB) first opened its doors in 1985 and has had a long and successful history selling books to the local market. The company was started by Michelle Book (working with a few part time employees) and has progressed through the years to now include 4 locations with a total of up to 100 employees. One of the reasons that FCB has been so successful is that Michelle has a core group of long time employees who have helped her to grow her business. Many of those employees will be retiring soon, or reducing their hours, and she wants some of her part time employees to fill their places and be with the business for the next several years and beyond. Unfortunately, business hasn't been very good for the last couple of years and money is very tight. EMPLOYEES: . There are 20 full time employees (4 per location) who work 35 hours per week. Most of these 20 have been with FCB since 1985. There are 60 part time employees (15 per location) who work between 15-25 hours per week, depending on how busy the stores are. The remaining 20 employees are casual and are only called in for work when the stores are busy. Their hours are variable from week to week. Michelle will be retiring soon and wants to hand the business over to her son, Brian. Brian has always found it a bit frustrating to work for his mother because Michelle doesn't have a lot of formal processes in place and while Michelle loves her books, her customers and her employees, she is not much of a businesswoman and the company is currently in financial trouble. Brian is sure he can turn things around and has a plan to take First Class Books into the future. As part of that plan, Brian wants to introduce a formal Indirect Pay system. Pretend that you are Brian and answer the following question: Which Indirect Pay benefits are you going to include in your plan, and WHY have you chosen the benefits that you did? NOTE 1: Make sure you fully explain the reasons why you have chosen the benefits that you did. For example: You might say that Brian is going to offer dental benefits but if that is all you say, you will not receive any marks because it is NOT a complete answer. Your answer must discuss WHY Brian has chosen dental; you must provide reasons for your choices. NOTE 2: Do NOT include Mandatory Benefits in your answer as these must be included for legal reasons. You will NOT receive any marks for mentioning these (CPP, EI, Workers' Compensation). I am looking for your ideas and the reasons for those ideas; you will not receive marks if your answer comes from the textbook, the PowerPoint slides, or other external sources. I want to know what you think and why you think that way