Human Resource Management

Compensation & Benefits

Benefits and Services
LEARNING OUTCOMES

1. Name and define each of the main pay for time not worked benefits.

2. Describe each of the main insurance benefits.

3. Discuss the main retirement benefits.

4. Outline the main employees services benefits.

5. Explain the main flexible benefit programs.

The Chief Objectives of Benefits Programs

Improve employee work satisfaction

Meet employee health and security requirements

Attract and motivate employees

Reduce turnover

Maintain a favorable competitive position

Chapter 13 Outline
I. Pay for time not worked

1) Unemployment insurance (obligatory by law)

2) Vacations and holidays

3) Sick leave

4) Parental leave & Family Medical Leave Act (obligatory by law)

5) Severance pay

6) Supplemental unemployment benefits

II. Insurance benefits

1) Workers compensation (obligatory by law)

2) Hospitalization, health, and disability insurance

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3) Life Insurance

III. Retirement benefits

1) Social Security (obligatory by law)

Retirement benefit

Survivors or death benefit

Disability benefit

2) Pension plans

Classifications of pension plans

Defined contribution pension plan :

401(k) plans

Deferred profit sharing

Employee stock ownership

IV. Personal services & family friendly benefits

A) Personal services

Credit unions

Counseling services

Employee Assistance Programs (EAPs)

Other personal services

B) Family friendly benefits

Subsidized child care

Elder care

Other job-related benefits

Executive perquisites

C) Flexible benefits programs

The cafeteria approach

Pros & Cons

Who Should Attend

Experienced HR professionals who are seeking to update their knowledge and skills.
New HR professionals who seek the knowledge, skills, and perspectives that will help them
excel at their jobs and advance in the field.

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 Professionals considering a career change into HR who want to explore the field as well as
make themselves more desirable candidates for HR positions.
Human resource specialists in any of the five functional areas of human resource management
(human resource planning, recruitment, and selection; human resource development;
compensation and benefits; employee safety and health; and employee and labour relations),
particularly those involved in employee benefits, employee relations, recruiting, wage and salary
administration, affirmative action, and labour relations.
Line managers who seek greater skill in interviewing and hiring new employees, training
employees, conducting performance evaluations of their direct reports, and other HR activities
they are responsible for carrying out.

Duration:

4 Hours

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