BU354 Chapter 13: Textbook - Chapter 13 Employee Benefits and Services
Document Summary
Employee benefits and services indirect financial payments that an employee receives during his or her employment with an employer: i. e. time off with pay, health & life insurance, eap. Benefits are starting to matter more to employees. Pay on termination: reasonable advance notice periods. Employee must be notified if they are going to be terminated. Unless they cause the termination (i. e. theft) The time required increases with seniority: severance pay. Larger layoffs lead to longer time for re-employment. Only need to pay this when 50 or more employee layoffs (in most provinces) Leaves of absence: all provinces require unpaid leaves of absence to be provided in certain situations, you"re guaranteed the same or similar job when you return. Canada pension plan (cpp: provides working canadians with financial security when they retire or are disabled, employers match cpp contributions, three types of benefits: 25% of the average earnings over the years which contributions were made.
