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Chapter 9

BUS 381 Chapter Notes - Chapter 9: Co-Insurance, Presenteeism, Life Insurance


Department
Business Administration
Course Code
BUS 381
Professor
Melissa Mc Crae
Chapter
9

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Human Resources Chapter 9 Textbook
The strategic role of employee benefits
Employee benefits are indirect financial payments received by an employee
during his or her employment
Traditionally were used to reward loyalty; today they are used to attract and
retain workers
Benefits are on average, 37% of pay
Legally required benefits
Employment Insurance (EI) provides income for those unable to work
Canada/Quebec Pension Plan (CPP/QPP) provides retirement benefits to
formerly employed workers
Workers’ compensation provides income and health benefits to workers suffering
work related illness or injury regardless of fault
Provincial healthcare plans provide basic medical and hospital services with no
direct fee
Minimum amounts of vacations and holidays are legislated
Leaves of absence
o Unpaid parental/adoption
o Bereavement
o Sick leave
Pay on termination of employment
o Pay in lieu of notice
o Severance pay
o Pay for mass layoffs
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