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Managing Human Resources Bohlander  Snell  Sherman. Chapter 11 Employee Benefits. Learning Objectives. Describe the characteristics of a sound benefits program. Recognize management concerns about the costs of employee benefits and discuss ways to control those costs.

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ManagingHuman ResourcesBohlander Snell Sherman

Chapter 11

Employee

Benefits


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Learning Objectives

  • Describe the characteristics of a sound benefits program.

  • Recognize management concerns about the costs of employee benefits and discuss ways to control those costs.

  • Explain the employee benefits required by law.

  • Discuss suggested ways to control the costs of health care programs.


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Learning Objectives, cont.

  • Describe those benefits that involve payment for time not worked.

  • Discuss the recent trends in retirement policies and programs.

  • Describe the major factors involved in the management of pension plans.

  • List the types of service benefits that employers may provide.



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Modifying Employee Benefits

Allowing for Employee Input

Providing Flexibility

Establishing Specific Objectives

Communicating Benefits Information

Requirements for a Sound Benefits Program


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Presentation Slide 11-2Flexible Employee Benefits Plans


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Flexible Benefits Plans (Cafeteria Plans)

Benefit plans that enable individual employees to choose the benefits that are best suited to their particular needs


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Presentation Slide 11-3How Benefit Dollars Were Spent in 1997 (Percent of Total)


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Benefits Required by Law

Old age and survivors insurance (OASI)

Unemployment insurance

Workers’ compensation

Leaves without pay

Payment for Time Not Worked

Holidays

Vacations

Sick leave

Jury duty, military service, and bereavement leaves

Supplemental Unemployment Benefits (SUB)

Insurance

Group life insurance

Long-term Care

Health care insurance

Dental insurance

Legal insurance

Retirement Benefits

Pre-retirement counseling

Pension plans

Deferred compensation plans

Presentation Slide 11-4Categories of Employee Benefits #1


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Services

Employee assistance program

Counseling services

Educational assistance plans

Child care

Elder care

Food services

Health services

Legal services

Financial planning

Housing and moving expenses

Transportation: pooling/parking

Purchasing assistance

Credit unions

Social and recreational services

Awards

Presentation Slide 11-5Categories of Employee Benefits #2


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Social Security

Unemployment Insurance

Workers’ Compensation

Leaves Without Pay

Employee Benefits Required by Law


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Workers’ Compensation Insurance

Federal- or state-mandated insurance

provided to workers to defray the loss

of income and cost of treatment due

to work-related injuries or illness


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Presentation Slide 11-6Controlling Workers’ Compensation Costs

  • Assess high-risk areas within the workplace.

  • Prevent injuries through job design, employee selection, and training.

  • Utilize physicians with experience in occupational health.

  • Maintain effective communication with an injured worker.

  • Manage the care of injured worker until he/she returns to work.

  • Provide worker training in health and safety areas.


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Health Care

Payment for Time Not Worked

Supplementary Unemployment Benefits

Life and Long-Term Care Insurance

Retirement Programs

Pension Plans

Discretionary Benefits


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Health Maintenance Organizations (HMOs)

Organizations of physicians and healthcare professionals that provide a wide

range of services to subscribers and

dependents on a prepaid basis


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Preferred Provider Organization (PPO)

A group of physicians who establish

an organization that guarantees lower

health care costs to the employer


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Supplemental Unemployment Benefits (SUBs)

A plan that enables an employee who

is laid off to draw, in addition to state

unemployment compensation, weekly

benefits from the employer that are paid

from a fund created for this purpose


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Silver Handshake

An early-retirement incentive

in the form of increased pension benefits

for several years, or a cash bonus


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Noncontributory

Defined-Benefit

Defined-Contribution

Contributory

Types of Pension Plans


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Contributory Plan

A pension plan where contributions are

made jointly by employees and employers


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Noncontributory Plan

A pension plan where contributions

are made solely by the employer


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Defined-Benefit Plan

A pension plan in which the amount

an employee is to receive upon

retirement is specifically set forth


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Defined-Contribution Plan

A pension plan that establishes the

basis on which an employer will

contribute to the pension fund


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401(k) Savings

Plans

Tax-deferred savings plans

Employees save through payroll deductions

Employers may match a portion of employee savings

Cash-Balance

Savings Plans

Employer contributes a percentage of employee’s pay each year

Account balance also earns interest each year

Experts predict it will replace traditional pension plans

Contemporary Pension Plan Options


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Vesting

A guarantee of accrued benefits

to participants at retirement age, regardless

of their employment status at that time


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Employee Assistance Programs

Counseling Services

Educational Assistance

Child Care

Elder Care

Employee Services


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Employee Assistance Programs (EAPs)

Services provided by employers

to help workers cope with a wide

variety of problems that interfere

with the way they perform their jobs


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Elder Care

Care provided to an elderly

relative by an employee who

remains actively at work


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Other Services

Awards

Food Services

Recreational and Social Services

On-Site Health Services

Credit Unions

Legal Services

Purchasing Assistance

Financial Planning

Transportation Pooling

Housing and Moving


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