Best Practices - Characteristic 5
Article Index
- Best Practices
- Characteristic 2
- Characteristic 3
- Characteristic 4
- Characteristic 5 (current position)
- Characteristic 6
- Characteristic 7
- Characteristic 8
- Characteristic 9
- Characteristic 10
Characteristic 5: Enable the well-being of individuals and their families through compensation, benefits, policies and practices.
Lake Forest Graduate School of Management
Lake Forest Graduate School of Management offers a very rich total rewards program to its employees. Even though the school is still navigating through a difficult economy, none of its benefits have been discontinued or reduced. In fact, more benefits have been added, some due to employee input about their benefits needs and interests.
Employees receive 50 percent of their employer contributions toward their Health Savings Account at the beginning of the calendar year to help families have funds in their accounts for emergencies or medical expenses incurred early in the year. When the organization realizes some savings with benefits, it shares those reductions with staff. The school encourages and rewards all staff for having their health assessed.
Staff and their eligible dependents who are enrolled in the school’s MBA program are reimbursed for textbooks and other course materials.
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