Managing Human Resources, Luis Gomez Mejia,  David Balkin,Ch1, Managing Human Resources 6e Luis Gomez Mejia  David Balkin, Ch12, Vahdi Boydaş, Mensur Boydaş
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Managing Human Resources, Luis Gomez Mejia, David Balkin,Ch1, Managing Human Resources 6e Luis Gomez Mejia David Balkin, Ch12, Vahdi Boydaş, Mensur Boydaş

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Managing Human Resources, Luis Gomez Mejia, David Balkin,Ch1, Managing Human Resources 6e Luis Gomez Mejia David Balkin, Ch8, Vahdi Boydaş, Mensur Boydaş

Managing Human Resources, Luis Gomez Mejia, David Balkin,Ch1, Managing Human Resources 6e Luis Gomez Mejia David Balkin, Ch8, Vahdi Boydaş, Mensur Boydaş

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    Managing Human Resources, Luis Gomez Mejia,  David Balkin,Ch1, Managing Human Resources 6e Luis Gomez Mejia  David Balkin, Ch12, Vahdi Boydaş, Mensur Boydaş Managing Human Resources, Luis Gomez Mejia, David Balkin,Ch1, Managing Human Resources 6e Luis Gomez Mejia David Balkin, Ch12, Vahdi Boydaş, Mensur Boydaş Presentation Transcript

    • (c) 2007 by Prentice Hall 12-1 Designing andDesigning and Administering BenefitsAdministering Benefits Chapter 12Chapter 12
    • (c) 2007 by Prentice Hall 12-2 • Explain the significance of employee benefits to both employers and employees • Design a benefits package that supports the firm’s overall compensation strategy and other HRM policies • Distinguish between a defined benefit retirement plan & a defined contribution retirement plan & recognize the situations in which each is most appropriate • Discuss how traditional health insurance plans & managed-care health insurance plans work & the advantages and disadvantages of each • Develop cost-containment strategies for the different types of employee benefits • Understand the administrative complexities of providing a full array of benefits to the work force & suggest ways to deliver benefits effectively • Recognize the HR department’s key role in keeping accurate records of employee benefits and informing employees about their benefits Chapter 12 OverviewChapter 12 Overview
    • (c) 2007 by Prentice Hall 12-3 • Benefits issues are important toBenefits issues are important to employeesemployees • Benefits are a powerful recruiting toolBenefits are a powerful recruiting tool • Benefits help retain talented employeesBenefits help retain talented employees • Certain benefits play a part inCertain benefits play a part in managerial decisionsmanagerial decisions • Benefits are important to managersBenefits are important to managers The Managerial Perspective toThe Managerial Perspective to BenefitsBenefits
    • (c) 2007 by Prentice Hall 12-4 An Overview of BenefitsAn Overview of Benefits • Employee benefitsEmployee benefits or indirector indirect compensationcompensation –– Group membershipGroup membership rewards thatrewards that provide security forprovide security for employees & theiremployees & their family membersfamily members
    • (c) 2007 by Prentice Hall 12-5 Benefits – Basic TerminologyBenefits – Basic Terminology • ContributionsContributions • CoinsuranceCoinsurance • CopaymentCopayment • DeductibleDeductible • Flex/cafeteria benefits programFlex/cafeteria benefits program
    • (c) 2007 by Prentice Hall 12-6 The Cost of Benefits in the U.S.The Cost of Benefits in the U.S. • Federal tax policyFederal tax policy • Federal legislationFederal legislation • Union influenceUnion influence • Cost saving of group plansCost saving of group plans
    • (c) 2007 by Prentice Hall 12-7 • Legally Required BenefitsLegally Required Benefits • Health InsuranceHealth Insurance • RetirementRetirement • InsuranceInsurance • Paid Time OffPaid Time Off • Employee ServicesEmployee Services Types of BenefitsTypes of Benefits
    • (c) 2007 by Prentice Hall 12-8 The Benefits StrategyThe Benefits Strategy • The Benefits MixThe Benefits Mix • Benefits AmountBenefits Amount • Flexibility ofFlexibility of BenefitsBenefits
    • (c) 2007 by Prentice Hall 12-9 Social SecuritySocial Security • Retirement IncomeRetirement Income • Disability IncomeDisability Income • MedicareMedicare • Survivor BenefitsSurvivor Benefits Legally Required BenefitsLegally Required Benefits
    • (c) 2007 by Prentice Hall 12-10 Legally Required BenefitsLegally Required Benefits • Workers’Workers’ CompensationCompensation • UnemploymentUnemployment Insurance – SUBInsurance – SUB • Unpaid Leave –Unpaid Leave – FMLA of 1993FMLA of 1993
    • (c) 2007 by Prentice Hall 12-11 • Health InsuranceHealth Insurance – COBRA of 1985COBRA of 1985 – HIPAAHIPAA – Preexisting ConditionPreexisting Condition • Traditional Health InsuranceTraditional Health Insurance – PremiumPremium Voluntary BenefitsVoluntary Benefits
    • (c) 2007 by Prentice Hall 12-12 • Health Maintenance OrganizationsHealth Maintenance Organizations (HMOs)(HMOs) • Preferred Provider OrganizationsPreferred Provider Organizations (PPOs)(PPOs) • Health Insurance Coverage ofHealth Insurance Coverage of Employees’ PartnersEmployees’ Partners • Health-care Cost ContainmentHealth-care Cost Containment Voluntary BenefitsVoluntary Benefits
    • (c) 2007 by Prentice Hall 12-13 • Tips for obtaining your own healthTips for obtaining your own health insuranceinsurance – Form your own small groupForm your own small group – Join an association that has group coverageJoin an association that has group coverage – Check out prices on the WebCheck out prices on the Web – Take advantage of COBRA provisionsTake advantage of COBRA provisions Customer-Driven HRCustomer-Driven HR
    • (c) 2007 by Prentice Hall 12-14 Retirement BenefitsRetirement Benefits • ERISA – vestingERISA – vesting • Defined Benefits Plan – pensionsDefined Benefits Plan – pensions • Defined Contribution PlansDefined Contribution Plans • 401k401k • IRAIRA • SEPSEP • Keogh PlanKeogh Plan • HybridHybrid
    • (c) 2007 by Prentice Hall 12-15 Insurance PlansInsurance Plans • Life InsuranceLife Insurance – Long-term disability InsuranceLong-term disability Insurance • Paid Time OffPaid Time Off – Sick leaveSick leave – VacationsVacations – Severance paySeverance pay – Holiday and other paid time offHoliday and other paid time off • Employee ServicesEmployee Services
    • (c) 2007 by Prentice Hall 12-16 Flexible BenefitsFlexible Benefits • Types of flexible benefits plansTypes of flexible benefits plans – ModularModular – Core-plus optionsCore-plus options – Flexible spending accountsFlexible spending accounts • Challenges with flexible benefitsChallenges with flexible benefits – Adverse selectionAdverse selection – Employees who make poor choicesEmployees who make poor choices – Administrative complexityAdministrative complexity Administering BenefitsAdministering Benefits
    • (c) 2007 by Prentice Hall 12-17 Administering BenefitsAdministering Benefits BenefitsBenefits CommunicationCommunication • IncreasingIncreasing complexity ofcomplexity of programsprograms • Companies do notCompanies do not devote resources todevote resources to explain programs toexplain programs to employeesemployees
    • (c) 2007 by Prentice Hall 12-18 • An Overview of Benefits • The Benefits Strategy • Legally Required Benefits • Voluntary Benefits • Administering Benefits Summary and ConclusionsSummary and Conclusions