HRM200 Lecture Notes - Elderly Care, Credit Union, Happy Hour
24 Sep 2013
School
Department
Course
Professor
Document Summary
People seeking benefits want to know what the other rewards are other than pay. Employee benefits indirect financial payments given to employees: may include supplementary health and life insurance, vacation, pension or rrsp, education plans, and discounts on company products, pension plan. Flexibility for employee satisfaction and cost management. Effective benefits plan: cost, attraction and retention, employee satisfaction with the plan, do the employee understand the benefit that they have or not, if it is not effective, employees don"t see it as a compensation. A federal program that provides income benefits if a person is unable to work through no fault of his or her own. Ei today relative to current job rate is 55% of what your wage was and that is also impacted by geographic location and type of job. Also pays for parental leave and sick leave.
