Intro+to+HRM-Ch-3.+12

Human Resource Management

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EMPLOYEE BENEFITS  AND SAFETY PROGRAMS Dr. Hazel-Anne M. Johnson Rutgers University
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Objectives 1. Understand how a firm’s benefits and safety programs shape its  employees’ attitudes and behaviors. 2. Describe the major characteristics of each of the mandatory  employee benefits that firms must provide their employees. 3. Discuss the different types and major characteristics of  voluntary benefits. 4. Outline the key components of effective benefits administration. 5. Explain the key components of an effective safety program. 6. Discuss how a firm’s organizational demands affect its benefits  and safety programs. 7. Identify the environmental factors that affect the benefits and  safety programs firms implement. 8. Describe the regulatory issues related to benefits and safety.
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Mandatory Benefits: Social Security First social insurance program implemented in 1937 Purpose to provide retired workers with continuous  income after retirement Later added provision to cover dependents and  survivors, disabled workers and dependents, and  health insurance for the elderly and disabled Funded by payroll taxes shared by employer and  employee (FICA)
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Unemployment Insurance  Provides temporary financial assistance to eligible  workers who lose jobs through no fault of their own Employers are required to pay taxes based on number  of claims filed against them Public employment offices pay out compensation up  to 26 weeks Unemployed workers are required to demonstrate that  they are actively seeking reemployment
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Requirements for Collecting Unemployment  Insurance 
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Workers’ Compensation Insurance Provides cash benefits and medical care to workers  when they suffer injuries or illnesses related to  employment Also provides survivor benefits to dependents of  workers who die in work-related incidents Covers medical care, permanent partial or permanent  total disability, rehabilitation and training for new  jobs In most states, employers must have coverage   regardless of number of people employed
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Voluntary Benefits Health and Wellness Life Management Retirement
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Health Care Plans Cost of health care benefits continues to increase as 
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Intro+to+HRM-Ch-3.+12 - EMPLOYEEBENEFITS ANDSAFETYPROGRAMS

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