Planning the Needs of Other Organizations
Identify three critical success factors that Benefast Partners should consider for its HRIS system.
Three critical success factors that Benefast Partners should consider as a part of their HRIS system, these include that of having multiple partners, having a retirement plan for all employees and to have more of a Web interface available (Kavanagh & Thite, 2009, p. 98). When all of these are in place, the organization will run smoother, and have the capabilities of meeting the needs of those that are employees and customers better on a regular basis. Without considering these possibilities, the company will continue to lose money, and people will not have a retirement plan if one should go that route in the future. In essence, he or she would have to continue to work in order to save up the money, instead of having a 401(k) available to accumulate the necessary funds to make this possible. Regardless, the goal of a person is to meet the needs of others internally and externally; however, at the rate Benefast Partners is going, they are more likely to go under in the years ahead if they do not make it work and soon for each individual who works or consumes what is available to them.
2. Based on the information in the case, evaluate Benefast Partners' strategy.
Benefast Partners strategy is to have retirement plans for those that are Fortune 100 companies. They are reaching the small organizations that are in need of their services. In fact, their market also includes those that are mid-sized...
This limits them currently in their potential for growth because of how few resources the small business owner has available to him or her at that given time. The company has done 401(k) retirement plans to those particular organizations; however, Benefast chose to not charge them enough for those business owners to consider implementing them at their own workplace. Through this effort, they decided to come up with a package effort for calculating how much was earned on a regular basis with their business transactions. Their processing time was considered slower compared to others offices that had multiple platforms in order to meet the needs of others. As a result, their means of doing business was making it to where they could administer the needs of others easily through their chosen methods. Through this, Benefast Partners launched their new product with a parent company. When their third client signed on, they had grown immensely because of this choice; consequently, they overbudgetted what was available to them, and this ended up hurting them as more people signed on for their retirement plans (Kavanagh & Thite, 2009, p. 97-98).
3. Discuss the methods to be employed to ensure that an HRIS package meets the majority of clients' needs.
The methods to be employed are imperative for the success of Benefast Partners. Here is exactly what it is they need to do in order to handle their issues properly. They need to plan out exactly how they will meet the needs of others. This will take time in order to make this happen because of this will…
