Advantages and Administrations.


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Remuneration parts that add to the representative's welfare by filling some sort of interest. All out worker advantages as a percent of finance 39.2 ...
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´╗┐Advantages and Services What Happened The inconvenience of pay roofs amid World War II Decline of paternalism Union weight Tax law Public arrangement movements of expense from government to the private segment

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Benefits and Services Once upon a period "fringe benefits" were of minor significance. In 1929 advantages were roughly 3 percent of wages and pay rates. By 1991 advantages had ascended to be 38.2 percent of wages and pay rates. Between these two periods wages and pay rates ascended by an element of 55 while benefits expanded by an element of 716 .

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Benefits And Services What Do Employers Expect? Enhanced profitability Increased occupation fulfillment Improved quality Reduction thus over and non-appearance Enhanced conviction that all is good

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Benefits and Services Benefits and administrations get to be muddled rapidly on account of the quantity of accessible parts, the assortment of discretionary elements inside a segment, and their lawful and money related collaborations.

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Benefits and Services Employee Benefits Those remuneration segments made accessible to representatives that give: Protection in the event of wellbeing and mischance related issues, and Income at some future date or event.

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Employee Services Compensation parts that add to the welfare of the worker by filling some sort of interest. Complete worker benefits as a percent of finance 39.2 Legally required installments 8.9 Retirement and funds 6.0

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Employee Services Life and demise protection 0.5 Medical advantages 10.4 Paid rest periods 2.2 Pay for time not worked 10.4 Miscellaneous advantages 0.9

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Benefits Planning And Design Criteria Minimum age and length of administration. Representative commitments a vesting plan for benefits arrangement. Coinsurance, deductible, roof requirements, and double scope for restorative protection. Alternatives to be incorporated into the medicinal arrangement. What representatives will be secured, and shouldn\'t something be said about retirees and wards.

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Critical Issues In Benefit Planning Current and future part of government-commanded benefits. Representative demographics and worker inclinations. Conceivable utilization of self-subsidizing and outsider head. Boss capacity to pay and worker commitments. Checking and reviewing programs.

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Benefits Communication Benefits got to be seen as privilege and bosses were loosing the motivational estimation of their projects. The reaction was the improvement of modern correspondence projects to advise workers of the amount they were getting through their advantages programs.

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Basic Benefits Communication New workers get oral and visual presentations of the advantage program, and an Annual advantage articulation that gives a description of the representative\'s advantage account.

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Basic Benefits Communication The worker has admittance to in-house benefit specialist administrations. Specially appointed worker gatherings to cover new advantages, changes, and basic issues. On-going correspondence of advantage information.

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Employee Benefits Employee Benefits Can Be Classified As: Disability Income Continuation Loss-of-Job Income Continuation Deferred Income Spouse or Family Income Continuation Health and Accident Protection Property and Liability Protection Perquisites

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Disability Income Short-Term Disability L-T Disability Worker\'s Compensation Sick Leave Non-Occupational Disability Travel Accident Insurance Supplemental Disability Insurance

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Disability Income Accidental Death And Dismemberment Retirement Plans T-P Disability Social Security

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Loss-Of-Job Income Unemployment Insurance (Ui) Supplemental Unemployment Benefit Insurance (Sub) Guaranteed Annual Income (Gai) Guaranteed Income Stream (Gis) Severance Pay Job Contract

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Deferred Income Social Security Qualified Retirement Plan Pension/Profit Sharing/Stock Bonus Simplified Employee Pension Plans (Sep)

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Deferred Income Keogh Plans Supplemental Executive Retirement Plans Supplemental and Executive Group Life Insurance Plans

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Spouse and Family Income Protection Life Insurance Retirement Plans Social Security Workers Comp Tax-Sheltered Annuity AD & D Travel Accident Insurance Health Care Coverage

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Basic Medical, Hospital, and Surgical Major Medical Dental Visual Comprehensive Physical Hearing Aid In-House Medical Services HMO\'s PPO\'s Social Security (Medicare) Post-Retirement Medical Workers\' Comp Health and Accident Protection

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Property and Liability Protection Group Auto/Home/Legal Group Umbrella Liability Employee Liability Fidelity Bond Insurance

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Employee Services Pay For Time Not Worked Holidays/Vacations/Jury Duty/Sick Leave Election Official/Witness In Court Military Duty/Funeral Leave/Marriage Leave

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Employee Services Illness In Family/Paternity Leave/Wellness Leave/Time Off To Vote/Give Blood Grievance And Contract Negotiations Lunch, Rest, And Wash-up Periods

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Time Off From Work Without Pay The family and therapeutic leave act left in 1993 allowed behind to 12 weeks of unpaid leave for an assortment of purposes, including a specialist\'s own ailment or that of a life partner or a guardian.

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Charitable Contributions Counseling (Legal, Financial, Psychiatric) Education Subsidies Child Adoption Child Care Elderly Care Parking Subsidized Food Service Travel Expenses Relocation Expense Emergency Loans Credit Union Income Equivalent Payments and Reimbursements

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Costing Benefits Costing is a key essential to any beneficial advantages correspondence program. Four strategies are accessible for costing advantages and administrations: Annual expense of advantages and administrations for all representatives. Taken a toll for each representative every year. Rate of finance Cents every hour

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Flexible Compensation/Benefits (Cafeteria Plans) Originally the adaptable remuneration/benefits arrangement was intended to empower senior administrators, top experts, and chiefs to pick independently a number of their advantages and administrations.

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Flexible Compensation/Benefits (CafeteriaPlans) However, associations are looking to the flex arranges today as a chance to: Contain the expense of advantages Satisfy representative inclination Provide decision

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Flexible Compensation/Benefits Flex arrangements are intended to fulfill four objectives that are viewed as central to the advancement of an effective system. It increments or enhances: Appreciation of the interest and craving of the business to enhance the personal satisfaction of every worker.

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Flexible Compensation/Benefits Loyalty and Motivation. Comprehension of Value of Each Benefit. Comprehension Of Value Of Total Program

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Establishing A Flex Plan Three Major Groups Must Participate In the Design of a Flex Plan: Senior Management for setting targets and deciding arrangement. Objectives

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Establishing A Flex Plan Compensation and human asset authorities for controlling the advancement of and helping with the development of a project that takes care of authoritative destinations and requests of the workers. Representatives for giving introductory inputs about what ought to be incorporated into an advantages program.

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Employee Spending Accounts This is a tax-exempt repayment account intended to direct or conceivably diminish the increasing expense of advantages for the representative while in the meantime giving the business more noteworthy control over the advantage consumptions.

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Employee Spending Accounts Employee are permitted to change over a part of assessable wages or compensations into nontaxable dollars to be utilized to pay for particular advantages.

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Employee Spending Accounts While decreasing their assessable salary, they can utilize the assets to pay for: Uncovered restorative costs. Premiums for wellbeing, life, and inability protection. Subordinate consideration help. Legitimate administrations. Individual money related arranging.

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Benefits in the 90\'s EAP\'s Adoption Expenses Child Care Assistance Paternity Leave Long-Term Care Flex Hours Work-At-Home

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