Employee benefits
1 / 22

Employee Benefits - PowerPoint PPT Presentation

Employee Benefits. Categories of Benefits. Universal benefits Statutory benefits Discretionary benefits for employee protection Pay for time not worked Employee services. Types of Risks Protected Against. Superannuation Untimely Death Disability Medical Expenses Unemployment.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.

Download Presentationdownload

Employee Benefits

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript

Employee benefits l.jpg

Employee Benefits

Categories of benefits l.jpg

Categories of Benefits

  • Universal benefits

  • Statutory benefits

  • Discretionary benefits for employee protection

  • Pay for time not worked

  • Employee services

Types of risks protected against l.jpg

Types of Risks Protected Against

  • Superannuation

  • Untimely Death

  • Disability

  • Medical Expenses

  • Unemployment

Universal benefits l.jpg

Universal Benefits

  • Benefits that government provides without requiring direct contributions from either employees or employers

  • i.e. Old Age Security, Guaranteed Monthly Income Supplement (GIS), Provincial hospital and medical insurance plans (OHIP)

Statutory benefits l.jpg

Statutory Benefits

  • Must be provided by employer under federal a/o provincial laws

  • i.e. CPP, WCB (WSIB), EI and health insurance

  • n.b. health insurance $ raised through payroll tax

Discretionary benefits for employee protection l.jpg

Discretionary Benefits for Employee Protection

  • Private pension plans

  • group life, disability and supplementary health insurance

Pension plans l.jpg

Pension Plans

  • Defined-Benefit Plans

  • flat benefit: based on service

  • earnings related: percentage

  • flexible pension: employer fixes base, employee contributes extra.

  • Defined Contribution Plans

  • money purchase, profit sharing

  • Combination Plans

Cost issues l.jpg

Cost Issues

  • Cost containment

  • taxation of benefits

  • cost shifting from the public to the private sector

Benefits communication l.jpg

Benefits Communication

  • Increasing complexity

  • lack of resources to explain the benefits to employees

Flexible benefits l.jpg

Flexible Benefits

  • Modular plans (bundles prepackaged for different subgroups)

  • Core-plus-options plans

  • Flexible spending accounts

Challenges with flexible benefits l.jpg

Challenges with Flexible Benefits

  • Adverse selection

  • Employees who make poor choices

  • Administrative complexity

Workplace health and safety l.jpg

Workplace Health and Safety

Worker s comp why l.jpg

Worker’s Comp - why?

  • Medical care and income to victims

  • no fault for quick relief

  • encourage employer to invest and research safety

Worker s comp benefits l.jpg

Worker’s Comp Benefits

  • Total disability benefits

  • Impairment benefits

  • survivor benefits

  • medical expense benefits

  • rehabilitation benefits

Shared responsibility l.jpg

Shared Responsibility

  • Health and safety committees

  • the right to refuse unsafe work

Chronic stress burnout l.jpg

Chronic Stress - Burnout

  • Emotional and or physical exhaustion

  • lowered job productivity

  • automatized or machine-like performance of duties

Variables significantly related to burnout l.jpg

Variables Significantly Related to Burnout:

  • Organizational characteristics

  • perception of organization

  • perceptions of role

  • individual characteristics

  • outcome (satisfaction and turnover impact)

Techniques for reducing burnout l.jpg

Techniques for Reducing Burnout

  • Identification - analyse incidence, prevalence and characteristics of burnout in organization

  • prevention - change process before it begins

  • mediation - slow/stop/reverse burnout

  • remediation - for employee already exhibiting burnout, but who needs to be shown respect and ways to find help

Programs to address burnout l.jpg

Programs to address Burnout

  • Employee Assistance Plans

  • Wellness programs

Health issues l.jpg

Health Issues

  • Workplace violence

  • Cumulative Trauma Disorder

  • Hazardous Materials (WHMIS)

  • Substance Abuse and Testing

  • Smoking

  • AIDS

Job safety analysis l.jpg

Job Safety Analysis

  • Sequence of Basic Job Steps

  • Potential Hazards

  • Recommended Action or Procedure

  • Login