2. Promoting benefits and services are generally defined as in-
kind (noncash) payments to employees for their membership
or participation in the organization
Benefits and services enable employees to enjoy a better
lifestyle and to maintain a reasonable work/life balance
Productivity Improvement
3. Strategic Importance of
Providing Benefits & Services
Recruiting and
Controlling Cost Retaining Talent
- Effective & Financial
Efficient - Flexible Benefits Plan
- Targeted Benefits Plan
Achieving Business Objectives
- Employers Business Objectives Communicate
which benefits and services can be used to address
4. Employee Benefits & Services Benefits & Services
Monetary / Non Monetary
Within an Integrated HRM System
Provide Manadatory
Other HR Activities Benefits & Services
Fairness & Legal Complienc Social security system
Creating Alignment Unemployment Compens.
Recruitment & Retention Workers Compensations &
Total Compensation Disability insurance
Objectives for Benefits Leaves under FMLA
Promoting Safety & Health
Unionization & Collective
& Services
Bargaining Contain Costs
Attract & Retain Employee Provide Voluntary
External Environment Support Strategic Benefits & Services
Economic Condition Objectives Retirement savings &
Labor Market Communicate Values pensions
Laws and Regulations Medical Care
Paid Leave Work/life
Organizational Benefits & Others
Environment
Size, Corporate Culture,
Communicate Administer
Strategy
Benefits & Services
5. Benefits and Services Program
Mandatory Protection Program
Protection programs required by the federal and state governments
Voluntary Protection Program
Protection program that are offered by employers and that are not required
by law
6. Mandatory Protection Program
Social Security Insurance
Unemployment Compensation
Workers Compensation and Disability
Insurance
Familiy and Medical Leave
7. Voluntary Protection Program
Defined Benefit Plans
- ‘traditional’ pension plans
- no longer as desireable as employees enjoyed more job security
- benefit plans can be expensive
Defined Contribution Plans
- Non contributory plan : only employer contributes to the
retirement account
- Contribury plan : both employee & employer contribute
>IBM : financial investment
Cash Balance Plans
- employer pays aspecific amount into employees accountup on their
retirement
9. The Organizational Environment
Size
Large firms tend to offer their employees a wider range of benefits &
services, compared to small firm
Corporate Culture
Fundamental values set the stage for developing an approach to managing
employee benefits & services
- Lincoln Electric : Limited voluntary B&S > Profit Sharing
- Google : Innovative B&S > Reinforce It’s Culture
The HR TRIAD
HR Professional : ensuring the legality & fairness of the package of B&S
Manager : need to know how managers should treat their employees
Employee : understand, value & use what’s avaiable > provide feedback
10. Work/Life Benefits and Services
Scheduling
Flexitime, compressed work week, telecommuting, job sharing
Child Care Services
Elder Care Services
Domestic Partner Benefits and Services
11. Other Benefits and Services
Developmental Benefits and Services
helps workers achieve personal goals while providing the employer
with better-skilled employees > reward
Personal Services
attract employees that they might values : career counseling, travel
planning etc
Business Travel and Relocation Assistance
incur because of business travel
13. Current Issues
Health Care Benefits and Services
- Cost Reduction initiative, including consumer driven health
care, wellness program & health savings accounts
- Hospital utilization program, coordination of benefits, data
analysis, Prescription drug management, auditing employee usage
Benefits and Services for Retiress
many employer have led their employees to believe that they have
health coverage upon retirement > retiree e expenses grow > find other
ways to pay for their health care after retirement
