1. BENEFITS AND SERVICES
Presentation
by
Prof.M.S.S.Varadan
Chairman
Om Consultants (India) Pvt. Ltd.
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2. BENEFITS AND SERVICES
• Benefits and services help attract
talent but do not motivate employees
• Benefits are a major HRM expense,
adding approximately 30-40 percent to
the direct wage bill
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3. • Most organizations are required by law
to provide PF, Gratuity, Insurance,
Worker’s Compensation, and State
Disability Plans
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4. • Additional benefits that employers often provide include
– Pay for rest periods
– Pay for holidays
– Pay for vacations
– Pay for sick leaves
– Pay for leaves of absence
– Pension programs
– Accident insurance
– Life insurance
– Health insurance
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5. • Other services that many employers provide include
– Social and recreational events
– Counseling
– Cultural activities
– Credit unions
– Housing
– Discounts on purchases
– Tuition refunds for educational courses
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6. • Current trends focus on benefits being
offered on a cafeteria style. This
provides the opportunity for
employees to get what they want
while simultaneously providing a cost-
effective measure for the employer.
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7. • Current trends focus on benefits being
offered on a cafeteria style. This
provides the opportunity for
employees to get what they want
while simultaneously providing a cost-
effective measure for the employer.
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U N L O C K IN G
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P EO P L E P O T E N T I A L 6