dessler_ch13 - PARTFOURCOMPENSATION CHAPTER TThirteen...

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PART FOUR                                                              COMPENSATION C H A P T E R   T h i r t e e n Benefits  And Services 13 Lecture Outline 177
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Strategic Overview The Benefits Picture Today Pay for Time Not Worked Unemployment Insurance Vacations and Holidays  Sick Leave Parental Leave and the Family and Medical  Leave Act Severance Pay Supplemental Unemployment Benefits Insurance Benefits Workers’ Compensation Hospitalization, Health, and Disability Insurance        Trends in Health Care Cost Control       Long-Term Care Life Insurance Benefits for Part-Time and Contingent Workers Retirement Benefits Social Security Pension Plans Pension Planning and the Law Early Retirement Phased Retirement and the Aging workforce Improved Productivity Through HRIS Personal Services and Family-Friendly Benefits Personal Services Family-Friendly Benefits Other Job-Related Benefits Executive Perquisites Flexible Benefits Programs The Cafeteria Approach Flexible Work Arrangements In Brief: This chapter discusses the benefits and services that companies might offer to employees. These benefits and services are offered to attract employees, retain employees, and to help make them more productive during their service. Often benefits address employee needs, such as security in old age. Interesting Issues: Though direct compensation (salary) is important, a company’s indirect compensation (benefits) are often the “tipping point” in a decision to accept or reject an employer’s job offer. It is interesting to reflect about the relative merits of increased pay as opposed to increased quality of life. ANNOTATED OUTLINE I. The Benefits Picture Today – Benefits can be classified by 1) pay for time not worked; 2) insurance benefits; 3) retirement benefits; and 4) services. Some benefits are required by law, others are discretionary. Table 13-1 lists benefits. II. Pay for Time Not Worked A. Unemployment Insurance – All states have unemployment insurance or compensation acts (that follow federal guidelines), which provide for weekly benefits if a person is unable to work through some fault other than his/her own. The benefits derive from an unemployment tax on employers that can range from 178
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0.1% to 5% of taxable payroll in most states. An employer’s unemployment tax rate reflects its rate of personnel terminations. B. Vacations and Holidays – The number of paid employee vacation days and holidays varies considerably from employer to employer. Firms have to address several holiday- and vacation-related policy issues. Know Your Employment Law
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This note was uploaded on 07/17/2011 for the course MBA 522 taught by Professor None during the Spring '11 term at Missouri (Mizzou).

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dessler_ch13 - PARTFOURCOMPENSATION CHAPTER TThirteen...

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