Lecture 6 - http/www.devryu.net/ec/crs/contentItem.learn?CourseID=3463855&47 Week 6 Maintaining High Performance II Lecture Help Print This Page

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Help Print This Page Employee Benefits and Worker Safety Current Trends in Employee Benefits | Worker Safety: Stress in the Workplace | International HRM | Study Quiz Current Trends in Employee Benefits Organizations offer a host of benefits to employees. Consider the following non-exhaustive list of employer sponsored benefits: Life insurance; Workers’ compensation; Disability insurance; Hospitalization, surgical and maternity coverage; HMO’s; Sick leave; Vacations; Holidays; Flexible work time; Sabbaticals; Pensions; Social security; Severance pay; Tuition aid; Company car; Legal/counseling services; Child/elder care; Stock purchase plans; Transportation; Service awards; Gift matching; The rising cost of benefits is a significant issue to organizations. Employers are increasingly focusing on costing benefits and cost containment. To cost benefits, employers are computing the total annual costs of employee benefits and then further analyzing the data to determine the cost per employee per year, the percentage of payroll, and the cents per hour. After these costs are determined, organizations calculate the amount of funds that they want to contribute to these costs. Employers then seek to transfer any differential to health providers, other vendors, or to employees. This trend will continue as benefit costs increase. As companies struggle to contain benefit costs, the following strategies can be effective in maximizing the use and value of employee benefits: Define objectives and strategy for benefits; Involve employees and unions in the development of .. 1 of 4
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This note was uploaded on 12/28/2010 for the course MGMT 410 taught by Professor Ellet during the Spring '10 term at DeVry Columbus North.

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Lecture 6 - http/www.devryu.net/ec/crs/contentItem.learn?CourseID=3463855&47 Week 6 Maintaining High Performance II Lecture Help Print This Page

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