According to Flick (2013), qualitative data analysis plays a pivotal role in the same research. The report helps in getting to know the properties that are present in the data. This data preparation and analysis entails collecting data, interpreting data, data analysis and finally representing data.
In Minneapolis based Medtronic, there are health insurance options offered to the employees to make their health risks covered (Bokse, Regina, Hurwich, 2014). One of the essential things in any company is a workforce that has no worries about health. There is the consumer-driven health plan that is determined by saving accounts, low premiums and high deductibles. The workers are at liberty to choose which one they want. The concerns of the employees that the amount of deductible is high. Another matter was on the selection of the healthcare provider. They seem to be worried that to some extent they may not be able to have money savings account to cater for the expenses. Unforeseen medical expenses are another concern most employees have because nobody can ever tell what will happen next. These concerns are valid because everyone wants the most effective and cheap medical care that would make them stress free. Employees were wondering about the changes that could be made on the Definity health plan and what their effects may be. It is essential since it helps employees to plan for the future since such changes may occur. Some employees wanted their spouses to be included in servicing the insurance this was important since it would reduce the cost of the service they are given or at least improve its quality. Employers wanted cheaper programs, for example, Judith, one of the employee chose a more affordable program being offered. There would be uniformity if all the employees were covered under the same program. Not all hospitals were included in the insurance plans provided Medtronic. For example, when a husband of Judith had suffered a knee injury when playing, he needed a surgery to be carried on him in a particular hospital which was not registered in her current plan.
Problem B
The most prominent and consistent issues were the high deductibles, the consumer ability to choose their provider and the money that they will use to cover their expenses. The deductibles were found to be much higher than the other plans, and the employees felt that could lead to them spending a lot of money. Some employees thought that it could have been cheaper if their spouses were included in servicing their respective plans. There are also others which in particular are the Medical and the Health partners that led to a high monthly subscription (Lee, Hsu, " Lien, 2006). These scared away many employees who chose cheaper plans. Many employees would want to check on the expenses which they want to keep as low as possible while at the same time they would want to get the best of services. This leads to striking a balance between the two. Another main issue was that many of the plans did not provide all services to their customers, some of them, for instance, did not cater for surgery charges which were the main concern among the employees. Availability of many options within one plan was also a challenging issue since it made it difficult for them to decide which one to choose. The Medtronic offered too many choices of insurance plans to their employees (Bokse, Regina, Hurwich, 2014). This made some employees want the cheaper plans without actually critically analyzing their advantages and disadvantages. In their plan out of networks, doctors were not provided for; employees had to choose their doctor. They wanted several doctors to be assigned to them not just selecting one. The choice of the doctor was also a limiting qualitative factor for the insurance plans offered by Medtronic. The concerns by the employees were about the low-cost medication plans they chose, for example, many employees chose generic drugs and standard lab tests. This was evidence that the employees who were treating patients, treated themselves with less effective drugs and methods. It would compromise the quality of services they will be producing to their clients.
Problem C
In as much as it is true that healthcare is expensive and everyone should be prepared for that unless the government or the company that one is working for comes strongly to help subsidize. In the concern of the employees, some issues should be looked at. These are money that has been put aside to help cover for unforeseen medical expenses and again these high deductibles. High amounts of money should not be deducted from their accounts to cover their medical costs (Scandlen, 2005). The employers should sit around the table with their employees and discuss a uniform insurance plan for them. This is possible because a particular company or organization has a nearly consistent salary for their employees. The company Medtronic should come out strongly to help the employees lower the high deductibles by helping in subsidizing (Bokse, Regina, Hurwich, 2014). The employees can also be offered advice on how they can deal with the medical cover on unforeseen circumstances so that they make informed decisions. Most employees would want to have their health insurance plan and to be sure that their health coverage is alright and can help in case there is a need. Only that they should do it in the right way that does not lead to any regret. It is upon the company to organize these through meetings, seminars, organizing for training among others to help the employees (Kroth " Peutz, 2010). The plans that are given to the employees should try and cover nearly all medical condition. From one of the employees of Medtronic, Judith, we found out that some of the insurance plans cover for specific hospitals which do not carry out some medical services such as surgery. This was noted when her spouse got an injury when playing and the surgery was to be carried on in a hospital, not of Judith's medical insurance plan. The amount of money deducted from the account of the employees should be made a uniform to create uniformity and offer quality services to their employees. When the employees are treated well, this means that they will also perform exceptionally well the tasks assigned to them. The insurance plans should allow room for spouses and other interested parties to come in and contribute towards this plans thereby reducing the weight of the insurance cost that has been cast on the back of the employee (Monahan, 2016). I think it will be well if the spouses and the children under 18 years of should be covered.
Problem D
The benefits and compensation offered by the Medtronic are excellent and designed explicitly for their employees. The type of insurance cover is consumer based meaning the consumer has an opportunity to determine which kind of insurance he/she wants at a particular cost. The types of insurance covers are different from those offered by other organizations.
For example, other companies offer additional services to their employees such as an insurance cover after retirement which has not been discussed in the types offered my Medtronic (Bokse, Regina, Hurwich, 2014). Other than the retirement benefits, this is given to their former employees to make their lifestyle better and their retirement homes. The interests include health insurance plans, leaves, unemployment benefits, retirement benefits, payment during leaves, that is, maternity leave (Fitz-Enz, 2000). This has not been offered by Medtronic.
Compensation
All employees in organizations like being compensated. Companies and institutions have various methods which they can use to give incentives to their employees which will encourage them to continuously work for the company. Some include:
Fixed pay: the employees are given a salary which is constant and does not change with circumstances. This fixed salary should be matching with those of similar companies or be even better. This will make the employee remain in the company.
Variable pay: this pay is determined by the dominant factors. The individuals who work effectively and efficiently are given an additional pay. The input of the employees and the results they have achieved determines their pay. It will ensure that the hard-working employees are not lured into other companies.
Long-term incentive. This somehow resembles the variable pay. This incentive is given to the workers who have done a particular job well for a long period, let us say, over one year. It is important to know that in some tasks, the rewards may be given after some time because the results of such tasks are seen after a period.
Problem E
Strength
Growth and development of the carrier: this is the most significant thing that should be done by the management if the vision of the company is to improve its services to its clients and patients. This one also helps the employees by imparting knowledge to them about specific themes making them perform better their work. Many employees are happy when they undergo growth during their work (Bokse, Regina, Hurwich, 2014). Some of how the management can realize this is by organizing capacity building, mentoring programs, internships, sponsoring further studies, benchmarking with other great institutions, construction of information centers, availing free internet connections, carrying out meetings and seminars (Arnold, 2005).
Weakness
Work-life benefits. There are benefits not associated with the job but are given to an individual during employment. Examples are opportunities for learning or social activities which individuals are involved in during the job, for examples giving food to the desperate members of the society, health education, and flexibility in the working environment, among others. These are not directly related to work and may not add any value to the performance of the employees and work in general.
Problem F
Strengths of the plan
The insurance plans offered by the Medtronic are several. This allows the employee to choose the plan that best fits him/her. The plans provided by the company to its employee have different costs, and they are cost friendly. Most of the insurance plans offered to allow for the employee and his/her family members to be covered under the plan (Kohl, 2016).
Negative incentives
Organization’s reward their employees to make their lives better, to increase their working morale a harvest from them significantly regarding productivity. It is essential to understand that a bad, rewarding method may lead to bad behavior among workers by making them be rewarded where they do not deserve, and this is poisonous to the company. For example, a case where the company gives prizes to workers in groups for a job done by one person, it may be realized that only an individual or few members did the work while others were relaxing and just gossiping. If every member of this group is rewarded may lead to lazy people to even step up this unfortunate lethargy and unwanted conducts (Davies, 2001). It can also demoralize the hard working people because the treatment is the same, not forgetting other things like mockery on the hardworking group.
These incentives should be reduced, and the company should be able to identify individuals according to what they have done and reward them.
Problem G
The company should continue placing their employees in the various insurance plans they have. This should involve the close family members of the employees. This can be made possible by the use of national identity cards and birth certificates of their children. Once this is done, the employees will feel comfortable and work wholeheartedly hence delivering quality results at their workstations (Bokse, Regina, Hurwich, 2014).
The Definity health plan should be continued since it has proved beneficial to the employees. This is evident as the results of those employees wishing to join and those joining the platform has been increasing with time. The most worthwhile part of this health plan is that the remaining funds in the insurance plan are rolled over to the next year ensuring that the money of the employee is not lost. Another advantage is that the employers contribute to this insurance plan for their employees showing that they have a great concern for their employees’ health. The funds remaining in the employees' health insurance account should be transferred to the next financial year. Doing this will continuously make employees trust the plan and enjoy as they work for Medtronic (Bokse, Regina, Hurwich, 2014).
The consumer-driven health care should also be continued. This is an essential plan and will be useful for both the employers and employees. Here, both the employers and employees will be contributing funds to this plan ensuring that the plan will cater to several needs because the amounts that will be provided here will be enough. The funds that will be contributed here will be used to cater for several needs of the employees such as, vehicles and retirement funds.
The plan that was initiated by George's human resource team should be continued. This should be done by increased training to employees on current and essential matters. This can be done by the organization of seminars and meetings. The training should involve themes such as leadership, values, and ethics among other vital topics. It will help to improve the overall performance of the employees (Bokse, Regina, Hurwich, 2014).
Problem H
George introduced the method of rewarding individuals who have been helping the company all through. Part of this reward included rewarding many young managers who had recently finished and excelled in their studies with the managerial duties. This saw many youngsters introduced in the topmost positions in the big medical technology company of the world. George's plan of the introduction of many young managers in the company should be stopped (Bokse, Regina, Hurwich, 2014). This is not good since the introduction of many managers in the company may destroy the company. Each manager would want to set up his/her method of carrying out activities in the company thereby bringing confusion to the members and the customers. A new manager may have evil intentions to towards the company and therefore lead to its downfall. Offering too much to the insurance kitty of the employees by the company may lead to its destruction (Apte " Sheth, 2016). This is so because paying insurance for the employees a lot of money reduces the amount of profit of the company. Continuous reduction of the benefits gained by the company for several years may lead to its failure. The management should ensure that as much as they love their employees and give them several rewards, they should also examine the other side of maintaining or improving the level of the company (Beam " McFadden, 2001).
Problem I
Medtronic is a great company which has existed for about seventy years. It is among the leading companies in production medical services and therapeutic products used in the treatment of diseases such as vascular conditions (Athavale, Avila " Gatzlaff, 2010). The company is among the world’s largest medical technology companies and has a great employee base due to a variety of services it produces to its customers. The companies operate worldwide in more than 142 countries. The number of people employed by the company is about 100,000. The company also has more than 53,000 patents all over the world. The company underwent acquisition in 2017. During the acquisition, the CEO of the company promised the employees that will continue to work together to realize their three main strategies which are therapy innovation, globalization, and economic value and help treat more people in the world (Noe, Hollenbeck, Gerhart " Wright, 2003).
The proposed changes in the company will significantly interfere with its operations and that of their employees. Since the company has many employees and branches in more than 140 countries, company’s management failure and the service at its headquarters in Minneapolis may have significant impacts on the departments of the company world over.
Revisions
Problem A
There are changes which I would recommend to be changed by the hospital management. To begin with, I would like the Medtronic healthcare insurance to improve its options for the healthcare plans. The administration should change the options and incorporate health saving account (Athavale, Avila " Gatzlaff, 2010).). The company should start with the minimum amount which most of the customers are contributing to their health saving accounts. From this, the management should monitor how such contributions would be influencing the financial status of the company. It would permit workers to have indeed had several alternatives together with the more significant control concerning their plans for healthcare. Besides, it will again provide employees with the options of choosing out various network providers. In a case Medtronic needed most of their workers to subscribe to Definity Health Care plan, through adding on the accounts of health savings, then the company would need to lower its deductibles. This would be hugely appealing to the workers. Hence, they are likely to make several workers sign up for the program. Apart from the healthcare alternatives, Medtronic can put into implementation various ways which would assist in lowering higher deductibles in favor of all the part employee for the company. Additionally, the company should opt for adding Wellness Clinics as one of their expansion programs to continue assisting in better healthcare delivery. Through the process, the Medtronic healthcare insurance is likely to get more consumers of their programs. Again, the company should identify a compensation plan and benefit which is incredibly fair their employees. The strategy selected should continue permitting workers to utilize accrued leaves which are paid. The program should as well incorporate sick, and bereavement leaves within a single policy. Similarly, appropriate metrics for the human resource should be developed to evaluate how suitable is the system works.
Problem B
There are some of the transformations which I would like to make for the present compensation and benefits plan. By making these changes, there would be efficient operations taking place in most of the insurance companies supporting workers. The changes that should be made incorporate base salaries provisions together with yearly plans for incentives in support of employees. Giving impetus to workers would be a motivation for them to provide useful services to the company. Better services provided by the workers are likely to increase productivity in the company as consumers would be signing up for the services it offers, which lead to subsequent contribution hence more revenue for the company. Again, workers together with the plans based on equity ought to accentuate on worker’s performance. Also, provisions for equal employment opportunities ought similarly to be changed. The rule should be made within the present plan for compensation and benefit in the company to enable workers to have multiple opportunities for getting employment. With the intention of reflecting on the personal life, Medtronic organization ought to start a system for work-balance for its structure of compensation and benefits plan. The system would make workers of the company be relieved from various work-related stress thus less illness associated with their roles at the company. It shall enable these employees balance between their life and work. During these times, workers are likely to be provided with a paid off holidays as well as their time when they are off from work in various instances. The process is expected to set new policies which shall be covering workers who got injured in their line of duties together with the disabled employees within a system that is fairer for the growth and development for both workers and the company (Athavale, Avila " Gatzlaff, 2010).
Problem C
The change which I would propose in support of the Health Savings Account indeed is to hold no financial cost to Medtronic. This will merely increase additional savings for the organization. It would similarly make Medtronic use vast sums of money on the deductibles meant for the part-time employees. Besides, the company can try getting the Health Care plan which hall be matching investments or instead savings made on the Health Savings Accounts. Again, Medtronic may similarly use some of its saving on the Wellness Clinics. Because the Wellness Council of America in its policies have a recommendation that a minimum of $100-$150 should be spent on every worker annually in supporting their wellness. The approach is meant to assist Medtronic in saving money. This can happen because, in place of having workers going to other medical experts to get checked for the particular medical conditions, they would merely visit the program of Wellness. The program is meant to save their expenses on medical issues on an organizational. Through efficient wellness programs, a worker may similarly enjoy some benefits coming from upgraded output delivered. For instance, approximately economic impacts about productivity on healthcare risks are $2,000 annually for every worker (Robinson " Ginsburg, 2009). Reduced claims on the worker’s compensations, decreasing turnover for employees as well as enhancing workers’ morale are some of the practical productivity which the workers are likely to get. Additionally, employees would stay happier with lower chances of developing various ailments which might influence their health care standards. For that matter, they are likely to live longer in their entire life
Problem D
Mostly, the cost meant for every compensation and benefit are as follows:
For the Definity health, any worker is subjected to a deductible routine with the minimum cost being $1500. The average cost charged certainly is $2500 then the highest of rather the highest cost becomes $3500. Also, for all the workers having personal care accounts, their charges are often steady from high, medium up to the lowest level, the cost charged for all these points is $1000 (Bokse, Regina, Hurwich, 2014). Those workers obliged to the deductible programs but never covered by PCA are charged as low as $500 while the medium charges stand at $1500. Lastly, the higher expenses are at $2500. Again, for the workers+1 who are in deductible programs, their lower costs stand at $2250 while this is subjected for an increment up to $3750 in support of the medium charges whereas, for the high fees, the workers are likely to $5250. Similarly, PCA workers+1 are required to part with approximately $1500 ((Bokse, Regina, Hurwich, 2014). The figure is meant for those in the deductible program. However, those who are never covered pay for low $750 then a medium charges of $2250 and higher costs of $3750 ((Bokse, Regina, Hurwich, 2014). Compensation and benefits costs pay by families is $3000 in favor of those in the deductible program but would for low amounts and the medium category is $5000 while those opting for the higher networks part with $7000. Also, there are families under PCA who pay about $2000. Those families who are never covered but fall into the deductible category pay for lower amount $1000, medium category of $3000 then lastly high amount of about $5000(Bokse, Regina, Hurwich, 2014).
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