HRM200 Lecture Notes - Lecture 10: Defined Benefit Pension Plan, Health Promotion, Uptodate
8 Apr 2016
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Hrm 200 chapter 13 (employee beneits and services) Employee beneits indirect inancial payments given to employees. May include supplementary health and life insurance, vacaion, pension, educaion plans, and discounts on company products: perks, employee rebates and discounts becoming larger part of total compensaion useful in atracing talent increasingly important for aging workforce. Key points/elements of a successful employee beneits program: cost-efecive. Rate of escalaion of that cost, need to keep this low: employee saisfacion. Being paid in a imely manner, accurately, etc: uilizaion. Higher costs, but if it is not used then the beneits plan may not be well- understood or poorly designed: compeiiveness. How does it measure against other companies. Employment insurance (ei) pay on terminaion of employment: providing adequate noice leaves of absence, several protected leaves. Workers" compensaion vacaions and holidays paid breaks. Funding: funded by employee contribuions and by employers (1. 4x employee contribuions) supplemental unemployment beneit (sub)
