BUSI 4320 Lecture Notes - Lecture 31: Employee Assistance Program, Basic Income, Global Atmosphere Watch

• School: Memorial University
• Department: Business Administration
• Course: BUSI 4320
• Professor: Lorne Sulsky

Document Summary

Insurance benefits: life insurance almost a universal benefit, health related insurance, salary continuation plans for short-term and long-term disability. Employee security benefits: employment income security, severance, guaranteed annual wage (gaw, supplemental unemployment benefits (sub) Registered pension plans (rpp: defined benefits (db) plans, defined contribution (dc) plans. If employers go out of business plan is left unfunded: some companies minimize their pension costs by having very long vesting periods. Social services: employee assistance programs (eaps, relocation programs. Problems in administration: lack of employee involvement, failing to recognize individual differences and needs, workers may be unaware of all their benefits. Traditional remedy has been to increase employee awareness. Flexible benefits programs (cafeteria benefit programs: allow employees to select benefits and services that match their individual needs, workers are provided a benefit and services account with a specified number of dollars in the account. Increases administrative costs and obligations: technology increasingly being used to handle administration e. g. web-based.