1 Answer | Add Yours
Many companies have already moved froim defined benefit to defined contributioin pensions. The next major cost saving with litlle overall effect on corporate productivity would be eliminaing outrageously hgh compensation and golden parachutes for executives. As there is no evidence that executive compensation correlates with company profitability, it can be reduced substantially without harm. Similarly,. extras like first calss and business class travel can be eliminated, entertainment funds, etc. On general benefits, I'd eliminate those which benefit only specific groups. Benefits that only apply to people with chilkdren seem fundamentally unfair anyway. A flexible benefit scheme in which people could select from a menu of options up to a certain cost would be more flexible and cheaper than giving everyone the same benefits.
We’ve answered 330,461 questions. We can answer yours, too.Ask a question