HRM 2600 Chapter 11: Chapter 11
19 Jan 2012
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Document Summary
Constituted an indirect form of compensation intended to improve the quality of work lives and personal lives of employees. Represent up to 40% of total payroll costs to employers. Hris and employee benefits: administrating an organization"s benefits program can be both costly and time- consuming. Requirements for a sound benefits program: the reliability of a benefits program centers around two factors, selecting benefits that target important employee needs while promoting strategic organizational objectives, effective administration of benefits program. Strategic benefits planning: the chief objectives of most benefit programs are to: o, meet employee health and security requirements, attract/motivate employees, retain top performing employees, maintain a favourable competitive position, uniform package of benefits should be developed. Involves considering the various benefits that can be offered, the relative preference shown for each benefit by management and the employees, the estimated cost of each benefit, and the total amount of money available for the entire benefits package.
