MHR 523 Chapter Notes - Chapter 13: Employee Assistance Program, Pension, Unemployment Benefits
12 Apr 2016
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Employee beneits: indirect inancial payments given to employees. They may include supplementary health and life insurance, vacaion, pension plans, educaion plans, and discounts on company products. Strategic importance of beneits: be used to award the employees of a company. Employment insurance: a federal program intended to provide temporary inancial assistance to eligible persons who experience interrupion to their work through no fault of their own. Not payable when an employee is terminated for just cause (i. e. thet of company property) or when an employee quits for no good reason. Basic safety when losing a job with a good reason: income security. Depends on the unemployment rate: low rate = less ime because more opportuniies, high rate = more ime because less opportuniies. To receive beneits, employee must irst have worked a minimum number of hours during a minimum number of weeks called a qualifying period.
