11  Employee Benefits

                                  75 % of employees undervalue benefits by half

                                                            80% are voluntarily provided by employers

                                                            Why is benefit management difficult?

                                                            How is it becoming easier?

A.  Requirements of a good program (explain each)

                1.  Strategic Benefits Planning

                2.  Employee Involvement

                3.  Diversity

                4.  Flexibility  (advantages and disadvantages)

B.  Communicating Information – how can you do it?

C.  Management Concerns (HRM 2 and HRM 3)

                1.  HIGH COST – dang!

                2.  Domestic Partner Benefits

D.  The Law – explain these and do it correctly J

 

                1.  Social Security – what is the story?

                2.  Unemployment Insurance

                3.  Workers Compensation (Figure 11.2)

                4.  COBRA

                5.  FMLA

                6.  OWBPA

E.  Flex-Benefits

                1.  Healthcare

                                High cost!

                                Cost Containment

                                HIPAA

                2.  Payment for TIME NOT WORKED

                                Vacations with pay

                                Paid Holidays

                                Sick Leave

                                Severance

                3.  Supplemental Unemployment Benefits

                4.  Life Insurance

                5.  Long-Term Care

                6.  Retirement

                                Policies

                                Preretirement

                7.  Pension Plans

                                Types

                                401K

                                Cash Balance Pension Plans

                                Federal Regulation

                                Pension Funds

                8.  Employee Assistance Programs

                9.  Child and Elder Care

                10.  Other Services – there are a ‘bunch of em’!

CASES:  KFC and Adobe