ABC Corp. employs many different types of workers. As a result, the company provides a financial amount to employees so they can select the specific benefits that fit their needs. ABC Corp. usesMultiple Choicesoft benefits.fringe benefits.an employee assistance program.a cafeteria benefit plan.a standard benefit plan.
Question
ABC Corp. employs many different types of workers. As a result, the company provides a financial amount to employees so they can select the specific benefits that fit their needs. ABC Corp. usesMultiple Choicesoft benefits.fringe benefits.an employee assistance program.a cafeteria benefit plan.a standard benefit plan.
Solution
Sure, let's break down the question step by step to find the correct answer.
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Understanding the Context:
- ABC Corp. employs various types of workers.
- The company provides a financial amount to employees.
- Employees can use this amount to select specific benefits that fit their needs.
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Identifying the Key Terms:
- The key concept here is that employees have the flexibility to choose their benefits.
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Analyzing the Options:
- Multiple Choicesoft benefits: This term is not commonly used in the context of employee benefits.
- Fringe benefits: These are additional benefits provided by employers, but they are usually not chosen by employees. Examples include company cars, health insurance, etc.
- An employee assistance program: This is a work-based intervention program designed to assist employees in resolving personal problems. It is not related to choosing benefits.
- A cafeteria benefit plan: This is a type of employee benefit plan that allows employees to choose from a variety of pre-tax benefits. This matches the description given in the question.
- A standard benefit plan: This is a fixed set of benefits provided to all employees, without the flexibility to choose.
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Conclusion:
- The correct answer is a cafeteria benefit plan. This plan allows employees to select the specific benefits that fit their needs using a financial amount provided by the company.
So, the answer is: a cafeteria benefit plan.
Similar Questions
15. Company ABC provides sick leave, vacation pay, pension plans, health plans, andother forms of extra compensation. All these items are ____________A. fringe benefitsB. soft benefitsC. cafeteria benefitsD. standard benefits
16. Company XYZ provides a financial amount to employees so they can select thespecific benefits that fit their needs. This company uses _____________.A. fringe benefitsB. soft benefitsC. cafeteria benefitsD. standard benefits
What is the definition of cafeteria-style employee benefits?Multiple choice question.programs designed so employees can use the health services that are needed for themselves and/or their familiesprograms that allow workers to base their job benefits on a credit system and personal needsbenefits where an employee can take a little bit of all health coverages so that he or she is totally protectedprograms that allow workers to calculate their job benefits for a health system
Programs that allow workers to base their job benefits on a credit system and personal needs are called (found in discussion of evaluating employee benefits):Multiple choice question.cafeteria-style employee benefits.matching-health benefits.personal-credit employee benefits.take-out-style employee benefits.
Why are more companies providing employee benefits? Choose 2 answers.(1 Point)To receive federal business grantsTo reduce spending costsTo reduce worker turnoverTo use as a tax deduction
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