Know the legally required benefits Copyright © 2016 Pearson Education,... An Overview of Benefits Employee Benefits • Indirect compensation • Based on group membership • Provide security
Trang 1Chapter
12
Designing and Administering
Benefits
Trang 2Chapter Challenges
1 Grasp an overview of benefits
2 Develop the benefits strategy
3 Know the legally required benefits
Copyright © 2016 Pearson Education,
Trang 5An Overview of
Benefits
Employee Benefits
• Indirect compensation
• Based on group membership
• Provide security for employees and
family
• Costly: 1929, 3% of payroll; 2013,
30.9%
Trang 6Copyright © 2016 Pearson Education,
How the Benefit Dollar
Is Spent
Trang 8Cost of Benefits in the
United States
• Federal tax policy
• Federal legislation
• Union influence
• Cost savings of group plans
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Trang 9Types of Benefits
Legally Required Benefits
Health Insurance
Retirement Insurance Paid Time Of
Trang 10Starbucks’ Benefits
• Health care benefits (medical, prescription drugs,
dental, and vision care)
• Retirement savings plan
• Life insurance and disability insurance
• Adoption assistance
• Domestic partner benefits
• Referral programs and support resources for child care and elder care
• Discounted Starbuck’s merchandise
• Participation in stock program
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Trang 11The Benefits Strategy
• The Benefits Mix
• Benefits Amount
• Flexibility of Benefits
Trang 12Legally Required Benefits
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Social Security
Retirement Income Disability Income
Medicare Survivor Benefits
Unemployment Insurance
Actively Seeking Work involuntary Terminations Supplemental Unemployment Benefits
Trang 13Social Security Benefits
Trang 14Unemployment
Benefits Comparisons
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• United States: 50% of salary for 6
months
• Italy: 80% of salary for 6 months
• Japan: 80% of salary for 10 months
• France: 75% of salary for 60
Trang 15Legally Required Benefits
Trang 16• Traditional Health Insurance
• Health Maintenance Organization (HMO)
• Preferred Provider Organization (PPO)
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Trang 17Voluntary Benefits
• Health Insurance Coverage of
Employees’ Partners
• Health Savings Accounts (HSAs)
• Health Care Cost Containment
• Insurance Plans
Trang 18Copyright © 2016 Pearson Education, Inc 12-18
Retirement Benefits
• Employee Retirement Income
Security Act (ERISA)
• Defined Benefit Plans
• Defined Contribution Plans
Trang 19A Comparison of Defined
Contribution Retirement
Plans
Trang 20oPaid Parental Leave
oHolidays and Other Time Of
• Employee Services
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Trang 22Summary and Conclusions
• An Overview of Benefits
• The Benefits Strategy
• Legally Required Benefits
• Voluntary Benefits
• Administering Benefits
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Trang 23Pearson Education, Inc.
Copyright