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Dessler, Cole, and Sutherland Human Resources Management in Canada Canadian Ninth Edition PowerPoint PPT Presentation


Dessler, Cole, and Sutherland Human Resources Management in Canada Canadian Ninth Edition. 13. Chapter Thirteen Employee Benefits and Services. © 2005 Pearson Education Canada Inc., Toronto, Ontario. 13-1. The Changing Role of Employee Benefits.

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Dessler, Cole, and Sutherland Human Resources Management in Canada Canadian Ninth Edition

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Dessler, Cole, and Sutherland

Human Resources Management in Canada

Canadian Ninth Edition

13

Chapter Thirteen

Employee Benefits and Services

© 2005 Pearson Education Canada Inc., Toronto, Ontario

13-1


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The Changing Role of Employee Benefits

-benefits traditionally used to reward loyalty and

tenure

-employee services more important today in post-

job security era

-benefits administration increasingly specialized

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Government-Sponsored Benefits

Employment Insurance (EI)

Canada/Quebec Pension Plan (C/QPP)

Workers’ Compensation

Provincial Health Care Plans

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Government-Sponsored Benefits

Employment Insurance (EI)

-provides income benefits for individuals

unable to work through no fault of their own

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Government-Sponsored Benefits

Canada/Quebec Pension Plan (C/QPP)

-provides retirement income and other

benefits to individuals who contribute to

these plans

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Government-Sponsored Benefits

Workers’ Compensation

-provides income and medical benefits to

victims of work-related accidents and illness,

regardless of fault

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Government-Sponsored Benefits

Provincial Health Care Plans

-pay for basic hospital and medical services

with no direct fee to patients

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Pay for Time Not Worked

-vacations and holidays

-short-term disability/sick leave

-leaves of absence (paid and unpaid)

-maternity/paternity/adoption leave

-bereavement leave

-sabbatical leave

-pay on termination of employment

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Insurance Benefits

  • Life insurance

  • Supplementary health care/medical insurance

  • Long term disability

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Insurance Benefits

Supplementary Health Care/Medical Insurance

Deductible

-annual amount of health/dental expense paid by

employee before insurance benefits will be paid

Coinsurance

-percentage of expenses (in excess of the

deductible) paid for by the insurance plan

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Insurance Benefits

Reducing Health Benefit Costs

-increase the amount paid by employees

-publish a restricted list of drugs covered

-offer health promotion programs

-implement risk assessment programs

-health services spending accounts

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Insurance Benefits

Long-Term Disability

Disability Management

-reduced work hours

-reduced work duties

-workstation modification

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Insurance Benefits

Long-Term Disability

Mental Health Benefits

-depression a ‘clear and present danger’

->alcoholism

->absenteeism

->injury

->physical illness

->lost productivity

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Retirement Plans

Pension Plans – Two Types

Defined Benefit Pension Plan

contains a formula for determining

retirement benefits

Defined Contribution Pension Plan

employer’s contribution to the employees’

retirement fund is specified

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Retirement Plans

Group RRSP/DPSP

-employee contributions to RRSP

-employer contributions to DPSP

-enables both to be tax deductible

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Retirement Plans

Pension Planning Issues

-membership requirements

-benefit formula (defined benefit only)

-retirement age

-funding (contributory or non-contributory)

-vesting

-portability

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Retirement Plans

Pension Plans – Recent Trends

-rapid growth of defined contribution plans

-same-sex benefits

-phased retirement

-supplemental employee retirement plans (SERPs)

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Employee Services

Personal Services

-credit unions

-counseling services

-employee assistance programs (EAPs)

-other (social and recreational)

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Employee Services

Job-Related Services

-subsidized childcare

-eldercare

-subsidized employee transportation

-food services

-educational subsidies

-family-friendly benefits

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Executive Perquisites

-loans

-golden parachutes

-financial counseling

-company relocation benefits

-limousines

-executive dining room

-concierge service

……

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Flexible Benefit Programs

Advantages

-choose benefits to suit individual needs

-meet changing needs of workforce

-increased employee involvement improves

understanding

-introduction of new benefits less costly

(merely a new option)

-cost containment: firm sets a dollar maximum

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Flexible Benefit Programs

Disadvantages

-employees make bad choices (not covered

for predictable emergencies)

-increased administrative cost

-adverse selection: employees pick only benefits

they will use (subsequent high benefit utilization

increases cost)

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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Benefits Administration

Outsourcing

Use of technology

Communication (especially pension)

© 2005 Pearson Education Canada Inc., Toronto, Ontario


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