Which of the following best describes a gap analysis in employee benefit planning?

A gap analysis in employee benefit planning is primarily concerned with identifying any gaps or overlaps in the benefits that an organization provides to its employees. This process involves systematically evaluating the current benefits offerings against the needs of the employees and the objectives of the organization. By pinpointing where there are deficiencies (gaps) or redundancies (overlaps) in the benefits package, organizations can make informed decisions on how to enhance their benefits strategy.

This analysis is crucial because it helps ensure that the benefits offered align with employee needs and expectations, thereby improving employee satisfaction and retention. Additionally, addressing gaps can lead to more effective use of resources and can help in compliance with regulatory requirements. The focus is not solely on reducing benefits or expanding them without consideration of costs, but rather on optimizing the benefits structure to better meet the overall goals of the business and the well-being of employees.