BU354 Chapter Notes - Chapter 11: Registered Retirement Savings Plan, Sildenafil, Absenteeism
Document Summary
Employee benefits is defined as all the indirect financial payments that an employee receives during his/her employment with an employer. Benefits are indirect financial payments (such as insurance, time of pay, supplementary health and pensions) traditionally used to reward loyalty and tenure. Employee services more important today in post-job security era. Make employees feel good about who they are working with, what they are doing. People aren"t expecting to stay at one place for a long time don"t expect to receive pension play, thus don"t care for the aging workforce, health-care benefits are becoming increasingly important. Benefits as a percentage of payroll are about 37% today. All employers provide group life insurance and most provide health and dental care insurance and retirement benefits. Government-sponsored benefits (6): (1) employment insurance (ei) federal program that provides weekly income benefits for individuals unable to work through no fault of their own. Does not apply to workers who are self-employed.
