BUS 381 Chapter Notes - Chapter 13: Job Satisfaction, Canada Pension Plan, Sick Leave

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Employee benefits: indirect financial payments given to employees. They may include supplementary health and life insurance, vacation, pension, education plans and discounts on company products. Research indicated that benefits do matter to employees and that if they are aligned with business strategy, they can help to attract and retain the right people to achieve business objectives. For aging workforce, health-care benefits are becoming increasingly important. Government-sponsored benefits: employment insurance, canada/ quebec pension plan, worker"s compensation, vacation and holiday, leaves of absence, pay on termination of employment. Group life insurance plan: insurance provided at lower rates for all employees, inclyding new employee, regardless of health or physical condition. Accidental death and dismemberment coverage provides a fixed lump-sum benefit in addition to life insurance benefits when death is accidental. It also provide a range of benefits in case of accidental loss of limbs or sight and is often paid for by the employer.

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