COMMERCE 2BC3 Lecture Notes - Lecture 29: Employee Benefits, Mandatory Palestine, Merit Pay
23 Nov 2017
School
Department
Course
Professor
Document Summary
Pay and benefits; direct - base pay + incentive pay; indirect - benefits. Income is always positively associated with life satisfaction and happiness. Performance is only included when you have pay at risk. Voluntary benefits (e. g. , life and disability insurance, extended health coverage, additional vacation pay) Add an average of 44. 5% to every dollar of payroll, accounting for about. Tax treatment of benefits is often better than the tax treatment of wages and salaries for both employee and employers. Growth of organized labour from the 1930s to 1950s (e. g. , unions) Attract employees, build good reputation in the market. Provides a basic level of income security for working canadians when they retire or become disabled. Offsets lost income to eligible employees for reasons of job loss, illness or compassionate leave (e. g. , employee"s immediate family member suffers a life threatening illness) Provides wage-loss benefits, health care, survivor benefits and rehabilitative services to eligible employees with work-related injuries or diseases.
