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

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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  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. Insurance Benefits • Life insurance • Supplementary health care/medical insurance • Long term disability © 2005 Pearson Education Canada Inc., Toronto, Ontario

  10. 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

  11. 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

  12. Insurance Benefits Long-Term Disability Disability Management -reduced work hours -reduced work duties -workstation modification © 2005 Pearson Education Canada Inc., Toronto, Ontario

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. Employee Services Personal Services -credit unions -counseling services -employee assistance programs (EAPs) -other (social and recreational) © 2005 Pearson Education Canada Inc., Toronto, Ontario

  19. 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

  20. Executive Perquisites -loans -golden parachutes -financial counseling -company relocation benefits -limousines -executive dining room -concierge service …… © 2005 Pearson Education Canada Inc., Toronto, Ontario

  21. 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

  22. 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

  23. Benefits Administration Outsourcing Use of technology Communication (especially pension) © 2005 Pearson Education Canada Inc., Toronto, Ontario

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