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Southwest Airlines Renovates Benefits S

University/College: University of Arkansas System
Date: November 6, 2017
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Southwest Airlines Renovates Benefits S

Southwest Airlines Renovates Benefits Document 1 of 1 Southwest Airlines Renovates Benefits System Author: Hitchcock, Joy E Proudest document link Abstract: When Southwest Airlines was founded In 1971 , company executives decided it had to be different If they wanted to set It apart from Its larger competitors. Emphasizing the Importance of employees was one way to accomplish that goal. In 1988, the company had grown to more than 6,500 employees.

The needs of the Rockford diversified, and health care costs continued to increase. Southwest decided that a flexible-benefits plan would help in both areas. Southwest spent $13 million on health care in 1989, with 1990 projections of $15 million. The flexible benefits program could save 6% of the company health care costs If enrollment was 40% or above. This program Is known as Beneficences. It offers 4 medical plans, dental care, vision care, dependently insurance, 2 long-term disability plans, multiple life insurance, accidental death and disability pay, and 2 pretax spending accounts.

Links: Linking Service, Linking Service, Linking Service Full text: Southwest Airlines is best known as the airline with a sense of humor that encourages employees to have fun on the Job and encourages customers to have fun while traveling. The Lorene has one of the best overall customer service records, the the domestic airline industry. Covering the territory of California, and other Southwestern and Plains states, the airline has grown into what the industry classifies as a major airline, with more than $1 billion in revenue.

When Southwest Airlines was founded in 1971, company executives decided it had to be different if they wanted to set it apart from its larger more established competitors. Specializing in low fares and short haul point-to-point transportation was among the ways to do that. Emphasizing the importance of employees was another. In 1988, the company had grown to more than 6,500 employees. The needs of the workforce diversified, and health costs continued to inch Southwest decided that a flexible-benefits plan would help in both areas.

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