Step 1: Sentence Analysis.
The sentence explains the new policy's benefits: employee benefit and productivity improvement. The structure requires grammatical correctness and coherence.
Step 2: Option Evaluation.
(A) beneficial for the employees, as well as improve productivity: Incorrect. "Improve" is incorrect; "improving" is needed for parallel structure.
(B) beneficial to the employees, and also improves productivity: Incorrect. "Improves" is incorrect. The conjunction "and also" does not fit the verb. Use "improving".
(C) beneficial to the employees, and also improving productivity: Incorrect. While "improving" is correct, "for" is preferred to "to" in this context for better phrasing.
(D) beneficial for the employees, and also improving productivity: Correct. This option is grammatically sound, using "for" and the correct verb form "improving," maintaining parallel structure.
Step 3: Conclusion.
The correct answer is (D) beneficial for the employees, and also improving productivity. It uses parallel structure and correct verb forms.