1、BENEFITS AND COMPENSATION,Human Resource Management College of Public and Community Service University of Massachusetts at Boston 2008 William Holmes,1,WHAT ARE BENEFITS?,Rewards having financial value Not direct financial compensation Usually indirect Related to membership status Not related to pro
2、ductivity,2,MANDATED BENEFITS,Social Security Unemployment Compensation Workers Compensation Family & Medical Leave,3,SOCIAL SECURITY BENEFITS,Old Age Survivors Disability Medicare Paid by Employees and Employers,4,UNEMPLOYMENT COMPENSATION,Applies to Terminations Without Cause Minimum 26 Weeks (som
3、etimes more) Tax Paid by Employers,5,WORKERS COMPENSATION,Job-related Illness Job-related Accident Covers Pay and Health Care Employer Paid Payments Depend on Work Experience,6,FAMILY AND MEDICAL LEAVE,Family and Medical Leave Act of 1993 Applies to Private Employers with 50+ Employees and all Gover
4、nment Employers 12 weeks unpaid 12 months prior work Includes health insurance Includes right to return to work,7,VOLUNTARY BENEFITS: 1,Payment for Time Not Worked Health Care Life Insurance Retirement Plans Disability Protection,8,VOLUNTARY BENEFITS: 2,Employee Stock Options (Profit Corporations On
5、ly) Supplemental Unemployment Benefits Employee Services Premium Pay,9,PAYMENT FOR TIME NOT WORKED,Vacation Sick Days Personal Days Sabbaticals Jury Duty Military Service Bereavement,10,HEALTH CARE BENEFITS,ProvidersCI, HMO, PPO, POS, EPO, Consumer ControlEP, DCP, HSA, FSA Add-onsMajor Medical, Dent
6、al, Vision, Long-Term Care Eligibility Varies,11,RETIREMENT PLANS,Defined Benefit Plan Defined Contribution Plan 401(k) Plans Cash Balance Plan 457 Plans (Deferred Compensation) Automatic Savings Accounts SSA,12,EMPLOYEE SERVICES: 1,Relocation Expenses Child Care Education Food Service Financial Ser
7、vice,13,EMPLOYEE SERVICES: 2,Legal Service Scholarship Club memberships Recreation,14,COMPENSATION,15,COMPENSATION FACTORS,Organizational Labor Market Job Employee,16,ORGANIZATIONAL FACTORS IN COMPENSATION,Compensation Policies Organizational Politics Ability to Pay,17,LABOR MARKET FACTORS IN COMPEN
8、SATION,Compensation surveys Expediency/Job Recruiters Cost of Living Union Contracts Economy Legislation,18,JOB FACTORS IN COMPENSATION,Job Analysis Job Description Job Evaluation Job Pricing,19,EMPLOYEE FACTORS IN COMPENSATION,Performance Skill Requirements Seniority Experience Organizational Position Membership Organizational Politics Luck,20,
