Management and Organizational Studies 3342A/B Chapter 12: Designing Indirect Pay Plans
17 Dec 2011
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Cs: benefits are radical here radical entertainment. Provided breakfast, 10 minute time outs, in-house movie theatre etc : types of emp benefits and services. > life insurance: most common benefit offered in private-sector firms with at least 10 emps (65%). Supplemental medical (64%), dental (60%), group rrsps (30%), formal pension plan (24%). [down]- formal pension plans, supplemental medical: mandatory benefits. Provincial/federal govt requires employers to contribute toward a number of govt-provided emp benefits. (1) cpp/qpp- the canada/quebec pensions plan (2) employment insurance (3) workman s comp. > all citizens ensured old age security: pays a small fixed pension for low income pensioners. 2008 was the worst year ever for pension funds- value dropped 15. 9%. Firms with pension plans have lower emp turnover though not beneficial if its only due to continuance commitment. (1) defined pension plans: Provides the emp a stream of income from retirement until death, based on a portion of the emps annual earnings. (2) defined contribution plans:
