Executive Summary
In response to the Board of Trustees request for evaluation of different retirement policies adopted by the different organization, our team engaged in a detailed research in three main Universities, New York University (NYU), Temple University, and Villanova. This study was aimed at reviewing different retirement packages adopted by these institutions, how often the policies were changed or reviewed, identify the difference between colleges and companies and elaborate on the importance to adapt better plans and policies in future. The following report compiled key research finding and provides a detailed insight into different retirement policies adopted by the stated Universities and colleges. The report also compares retirement policies and packages offered by colleges and companies hence giving a good foundation to the Board of Trustees towards formulating effective policies in future.
The primary research method used in our study consist of an interview help with the academic advisor in the New York, Temple, and Villanova Universities on different retirement policies in this institution. Each interviewee was asked on their assessment of the current retirement policies in their institutions, what were the main challenges facing the implementation of the policies, how regularly were the policies changed, and what future suggestion they could have regarding making the policies better and more efficient. Secondary information was also obtained from different organizational electronic files which helped create a framework on the general outline of various policies and better ways of improving them. This site offered essential information which will assist the Board of Directors develops useful retirement packages.
Findings
The analysis of data collected through interview and from secondary sources helped determine the relationship between different policies adopted by the stated learning institutions. The sources also made us gather essential information that enabled us to address two core areas as per the Board of Directors request. These areas include; should your company be aware of any trends? And are future retirees going to demand more? Major finding obtained from these sources include;
There are different retirement policies adopted by each learning institution in which our research focused. These policies differed in the method of implementation, execution, and the frequency in which they were changed within the institution. Some institution, for instance, the New York University allows some of its employees to work even after retirement a policy not common in other institutions. Therefore, as elaborated in this research paper essential policies by each institution are explained, and significant differences stated.
A key research finding also is that there are different techniques that can be used to improve the effectiveness of retirement policies in various institutions and companies. These are for instance encouraging increased savings at a younger age, strategy designing, use of skilled policy makers, engagement of employees in the policy making process among others.
The report also found out that it is paramount to adapt effective retirement plans and policies in the futures. This to enhance to quality of lives of employees after their retirement. This makes them deliver quality services to any particular organization they are working for hence increasing its productivity. The research found out the employees welfare, and motivation was a key factor in enhancing their dedication towards delivering quality services to the company.
Conclusion and Recommendations
We have concluded that it is imperative to review regularly and update the retirement policies adopted by different institutions. To enhance the effectiveness of existing and new policies to be formulated, a professional team of policy makers must be involved. Also, to ensure that the policies formulated are effective, the policy makers must be ready to engage employees whom the policies have the greatest impact.
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Works Cited
Corwin, Thomas M, Peggy Heim, David D. Palmer, and Carl V. Patton. Changing Retirement Policies. Washington, D.C: American Association for Higher Education, 2004. Print.
Ruebhausen, Oscar M. Pension and Retirement Policies in Colleges and Universities: An Analysis and Recommendations. San Francisco: Jossey-Bass, 2006. Print.
