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Chapter 16: Restructuring Benefits and Compensation Well-designed benefit packages and organizational policies play a vital role in employee recruitment and retention. In a difficult economy, where salary freezes and even reductions are prevalent, agencies may adopt benefits programs that address some of the needs of employees, yet are more cost efficient than salary increases. In this chapter, we present challenges, strategies, and workforce practices related to "Restructuring Benefits and Compensation." Exhibit 16-1 provides a snapshot of the chapter. Exhibit 16-1 Snapshot of Chapter 16 Chapter Road Map Concept and Definition Workforce Challenges...................115 Anti-Public Sector Sentiment High Expectations of an Employer Aggressive Wage Competition Better Compensation and Responsibility Industry Strategies.....................115 Research Competitive Compensation Supplement with Alternative Benefits Packages Workforce Practices....................116 The restructuring of benefits and compensation Santa Clara Valley Transportation Authority (VTA) Medical Opt-Out systems enables agencies to remain competitive with Program other organizations' recruitment and retention practices. North Carolina DOT Competency-Based Pay Program Definition of Restructuring Benefits and Compensation: Involves adopting benefits programs that address the needs of employees. Often these benefits are more cost efficient than salary increases. As a result, these practices help agencies to better recruit and retain employees. Workforce Pipeline Target Area Target Career Stages Comm. 4 year Graduate Entry-Level Mid-Career Senior K-12 Retirees Colleges Colleges Schools Staff Staff Leaders TRANSPORTATION WORKFORCE PIPELINE Restructuring Benefits and Compensation Chapter 16 Target Area 114