Assignment: Case Study Read the SHRM case study, “Benefits and Business at Aflac and L.L. Bean.” Prepare a 4–6 page case analysis on the case study on the “Benefits and Business at LL Bean and Aflac” on the topic of benefits and why they are critical to the success of an organization in meeting its goals and mission. In your analysis, respond to the following question: What is the competitive strategy of the utilization of benefits at the two organizations, LL Bean and Aflac, and why is it critical to the success of an organization in meeting its goals and mission? Your analysis of this case and your written submission should reflect an understanding of the critical issues of the case, integrating the material covered in the text, and present concise and well-reasoned justifications for the stance you take. Case analysis criteria: Your case analysis should consist of: A brief analysis of the situation and pending decision problem, as presented in the case and as relevant to your answer. This should be exceptionally brief, and you should assume the person reading the assignment is familiar with the details of the case. Identification of the major issues surrounding the organization or individuals involved with the organization. Identification of alternate courses of action to address the issues identified. The decision or recommendation for action, with the appropriate supporting arguments. The case question is designed to guide the direction of your analysis in the case. Your analysis should address and ultimately answer the question. You may discuss your case analysis assignment with the class, but you must submit your own original work. Case analysis tips: Avoid common errors in case analyses, such as: Focusing too heavily on minor issues. Lamenting because of insufficient data in the case and ignoring creative alternatives. Rehashing of case data — you should assume the reader knows the case. Not appropriately evaluating the quality of the case’s data. Obscuring the quantitative analysis or making it difficult to understand.
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Case Study –Aflac Insurance and L. L. Bean
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Introduction
According to annual Job Satisfaction Survey Report by Society for Human Resource Management (SHRM), employees rated compensation and benefit among the top three aspect most important to their job for the past five years(Reed, 2009). Despite several research and studies pointing out this aspect, companies have done little to improve employee’s satisfaction(Sageer, et al., 2012). Report indicated that employees rated their benefits and compensation packages low. This means that the employees are not pleased with healthcare, pension, promotion policies, and bonus plans packages. It is an indication that many employers are missing the critical opportunities to optimize employee job satisfaction and other organizational outcomes through their total rewards programs.
The insights of the case study emphasized the importance of benefits and compensation as one of the many core aspects that helps to enhance employees’ satisfaction in their working environment(Bonache & Paz-Aparicio, 2015). It is imperative to understand that benefits and compensation comprises of many aspects that falls within the welfare of the employees and managed by the human resource management. Benefits and compensation include but not the least nontraditional benefits, insurance, development programs, paid time off, and monetary rewards.
Studies have showed that good benefits and compensation programs motivates and encourages the employees to put more efforts and remain for long working with the same company. Also, it attracts talents and professionals from organizations that do not provide competitive benefits and compensation packages(McCollum, 2014). This study analyzed what competitive strategy utilized byAflac Insurance and L. L. Bean to enhance benefits and compensation program for their employees. Also, this paper evaluated why these competitive strategies are critical to the success of these organization in attaining their goals. Aflac Insurance was founded in 1955 and it is a Fortune 500 company which employ more than 4,500 employees. Aflac’s operations are guided by the philosophy; value people and the business operations will be successful. The founding pri…………………………………………………………………………………………………
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