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Undergraduate Research Project Management System

PREFERENCES AND VALUATION OF BENEFITS

Status Complete
Seeking Researchers No
Start Date 01/07/2012
End Date 01/08/2012
Funding Source Discovery Grant
Funding Amount
Community Partner
Related Course
Last Updated 03/25/2012 04:52PM
Keywords benefits

People

Faculty
  Kevin Dow, Rashmi Prasad

Student Researchers
  Carol Tabolt

Abstract

Measuring Total Compensation (TC) for work has changed over the last century; consisting of only monetary compensation in the past to including a full menu of new (and costly) benefits. For example, many companies now offer a flexible benefits plan– where the employee can choose their own benefits from a menu of options. Over the past few decades, companies have begun to offer many non-compensatory benefits such as flex-time and employer provided child care. Unfortunately, men and women are likely to value these benefit options differently. Valuation of total compensation, especially non-compensatory benefits, is subjective to each individual person. Values for non-compensatory benefits may differ based on demographics such as gender or age. In order to determine the value of TC, a scale to measure compensatory and non-compensatory benefits together must be created. Measurement of total compensation is complex since compensatory benefits can be measured using dollar values and non-compensatory benefits have no common value.

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