COMMERCE 2BC3 Lecture Notes - Lecture 11: Cost Accounting, Human Factors And Ergonomics, Canada Labour Code

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2BC3
• Professor: Frances Tuer

Document Summary

Two types of pensions: defined benefit, defined contribution. Defi(cid:374)ed (cid:271)e(cid:374)efit: tells (cid:455)ou (cid:455)ou"(cid:396)e going to get x per month when you retire. Defi(cid:374)ed (cid:272)o(cid:374)t(cid:396)i(cid:271)utio(cid:374): (cid:272)o(cid:373)pa(cid:374)(cid:455) does(cid:374)"t (cid:272)o(cid:373)(cid:373)it to pa(cid:455) (cid:455)ou a (cid:272)e(cid:396)tai(cid:374) a(cid:373)ou(cid:374)t (cid:449)he(cid:374) (cid:455)ou (cid:396)eti(cid:396)e but they commit to put a certain amount now. You are in charge of your type of plan: we are moving toward defined contribution. Big theme in benefits is keeping employees healthy recreational lounges, sports and other recreation teams, workplace fitness classes and gym memberships, ergonomics, adjustable desks, etc: take home meals, laundry and dry-cleaning services, nap chairs and rooms. Benchmarking: need to be competitive to attract workers. Fle(cid:454)i(cid:271)le (cid:862)(cid:272)afete(cid:396)ia(cid:863) st(cid:455)le (cid:271)e(cid:374)efits: people ha(cid:448)e (cid:272)ha(cid:374)gi(cid:374)g (cid:374)eeds/u(cid:374)i(cid:395)ue (cid:374)eeds. Cost control: benefits will be used obviously since that was part of why people chose job. Cost control method is co-pay (i. e. pay half of glasses prescription)