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Flexible Benefits

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Adressing the topic of Flexible Benefis from it\'s definition to emergind trends that will affect compensation in the workplace -Presented at the HRPA of Peel Compensation Dinner on 21st January 2009.

BusinessTechnology
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Flexible Benefits Navraj Singh – University of Toronto, Hons B.A Nathalie Dobson- University of Toronto, Hons B.A Saima Ramzan –University of Toronto, Hons B.A Khadine Chatoor- University of Toronto, BBA Specialist
Agenda 1. Flexible Benefits – What is it? 2. Employer Compensation Objectives and Costs 3. Employee Needs and Costs 4. Tax Implications 5. Cost Savings 6. New and Emerging Trends 7. Challenges
What are Flexible Benefits? ,[object Object],[object Object],[object Object],[object Object],[object Object]
Company Examples ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The Co-operators KPMG Royal Bank of Canada PEPSI Bottling Group
Employer Compensation Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object]
Cost to the employer ,[object Object],[object Object],[object Object],[object Object],[object Object]
“ Several sizes fits most” ,[object Object],[object Object],[object Object],[object Object],[object Object]
Linking Flex benefits with employee satisfaction
Cost to the employee ,[object Object],[object Object],[object Object],[object Object]
Tax Implications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Cost savings on all benefits ,[object Object],[object Object]
New and emerging trends ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Main Trends ,[object Object],[object Object],[object Object],[object Object],-38% of companies offered them in 2005, up from 10% in 2002 -36% offer flex benefit options to retirees -Most popular option -85% of companies offer health spending accounts Medical and Dental RRSP’s Upcoming
Challenges ,[object Object],[object Object],[object Object],[object Object]
Conclusion ,[object Object],[object Object],[object Object]
QUESTION 1 ,[object Object]
Answer: ,[object Object],[object Object]
Question 2 ,[object Object]

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  • 1. Flexible Benefits Navraj Singh – University of Toronto, Hons B.A Nathalie Dobson- University of Toronto, Hons B.A Saima Ramzan –University of Toronto, Hons B.A Khadine Chatoor- University of Toronto, BBA Specialist
  • 2. Agenda 1. Flexible Benefits – What is it? 2. Employer Compensation Objectives and Costs 3. Employee Needs and Costs 4. Tax Implications 5. Cost Savings 6. New and Emerging Trends 7. Challenges
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  • 8. Linking Flex benefits with employee satisfaction
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