This document discusses employee benefits and issues related to benefits planning, design, administration, and communication. It defines employee benefits as compensation other than pay provided by employer payments, such as insurance, pensions, and paid time off. Key topics covered include why benefits have grown over time, valuing benefits to employees, flexible benefits options, financing alternatives, factors that influence benefits package choice, and administrative issues around communicating benefits and claims processing.
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
Now days the organizations use supplementary compensation over and above the base compensation. It helps in satisfying the employees as well as retaining them for long time.
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
Now days the organizations use supplementary compensation over and above the base compensation. It helps in satisfying the employees as well as retaining them for long time.
Presenting this set of slides with name - Compensation Package Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of thirtynine slides. Our tailor made Compensation Package Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Compensation Package Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field
Concept of Compensation, Exploring & Defining Compensation Context (Strategic Compensation, Total Compensation, Extrinsic Compensation, Intrinsic Compensation, Components of Compensation, Factors Influencing Compensation, Wage and Salary, Incentives, Fringe Benefits, Perquisites, Govt. Regulations for Compensation in India, Minimum Wage, Fair Wage, Living Wage, Calculation of Minimum Wages)
A company offer a competitive compensation arrangement in order to attract, retain, and motivate a qualified CEO to manage the organization.
This Quick Guide examines the elements of executive compensation and the process by which the compensation committee establishes pay packages.
It examines the questions:
• What is the purpose of a compensation program?
• How do boards structure pay?
• What is the difference between expected, earned, and realized pay?
• How much do CEOs make?
• Are CEOs paid the “right” amount?
For an expanded discussion, see Corporate Governance Matters: A Closer Look at Organizational Choices and Their Consequences (Second Edition) by David Larcker and Brian Tayan (2015): http://www.gsb.stanford.edu/faculty-research/books/corporate-governance-matters-closer-look-organizational-choices
Buy This Book: http://www.ftpress.com/store/corporate-governance-matters-a-closer-look-at-organizational-9780134031569
For permissions to use this material, please contact: E: corpgovernance@gsb.stanford.edu
Copyright 2015 by David F. Larcker and Brian Tayan. All rights reserved.
Presenting this set of slides with name - Compensation Package Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of thirtynine slides. Our tailor made Compensation Package Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Compensation Package Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field
Concept of Compensation, Exploring & Defining Compensation Context (Strategic Compensation, Total Compensation, Extrinsic Compensation, Intrinsic Compensation, Components of Compensation, Factors Influencing Compensation, Wage and Salary, Incentives, Fringe Benefits, Perquisites, Govt. Regulations for Compensation in India, Minimum Wage, Fair Wage, Living Wage, Calculation of Minimum Wages)
A company offer a competitive compensation arrangement in order to attract, retain, and motivate a qualified CEO to manage the organization.
This Quick Guide examines the elements of executive compensation and the process by which the compensation committee establishes pay packages.
It examines the questions:
• What is the purpose of a compensation program?
• How do boards structure pay?
• What is the difference between expected, earned, and realized pay?
• How much do CEOs make?
• Are CEOs paid the “right” amount?
For an expanded discussion, see Corporate Governance Matters: A Closer Look at Organizational Choices and Their Consequences (Second Edition) by David Larcker and Brian Tayan (2015): http://www.gsb.stanford.edu/faculty-research/books/corporate-governance-matters-closer-look-organizational-choices
Buy This Book: http://www.ftpress.com/store/corporate-governance-matters-a-closer-look-at-organizational-9780134031569
For permissions to use this material, please contact: E: corpgovernance@gsb.stanford.edu
Copyright 2015 by David F. Larcker and Brian Tayan. All rights reserved.
The most precious asset of any business is its executive team. Part of the struggle that closely held (and public) companies face is their ability to attract and retain key employees. An executive bonus plan may be an effective strategy to hire away from your competition and keep your top people with your firm.
Provide brief education for business owners and HR professionals on the current market conditions that favor adding Voluntary Benefits to their benefits portfolio.
Medical care - compensation management - Manu Melwin Joymanumelwin
Benefits are a critical piece of an employee compensation package, and health care benefits are the crown jewel. Health care benefits, along with time-off benefits, are the most popular of benefits to employees.
BIZGrowth Strategies - Workforce & Talent Optimization Special EditionCBIZ, Inc.
Amid today’s economic uncertainty, we know you need strategies and solutions that will help your business thrive. With workforce and talent concerns running high for employers across the nation, our experts developed these articles with those critical issues top of mind. We offer fresh insights designed to attract, retain, engage and motivate your employees — all while protecting your bottom line and managing emerging risks. Articles include:
- Unlock Success with Effective Performance Management
- How Employers Can Benefit from Financial Wellbeing Programs
- How to Talk About Hard Decisions During a Recession
- Cost-Effective Health Plan Perks to Consider in 2023
- 3 HR Strategies to Recession-Proof Your Organization
- Responding to Employment Practices Liability (EPL) Claims
- Versatility — Important in Life & Life Insurance
Designing and Administering The Benefits by MahnoorMah Noor
Its all about how to design the benefits for the employees , what strategies can be made for designing the benefits ,the role of administration in administering the benefits and introducing different benefits package ...
Employee benefits - compensation management - Manu Melwin Joymanumelwin
Employee benefits and benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries
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CHAPTER EIGHT
Compensation Programs
CHAPTER OUTLINE
Compensation Management
Legal Aspects of Compensation Management
Federal Legislation
State Legislation
Local Legislation
Direct Financial Compensation
Salaries
Wages
Incentives and Bonuses
Tips
Indirect Financial Compensation
Mandatory Benefits
Voluntary Benefits
Other Voluntary Benefits
Nonfinancial Compensation
Human Resources Terms
For Your Consideration
Case Study: Human Resources Management in Action
Internet Activities
CHECKLIST OF CHAPTER LEARNING OBJECTIVES
As a result of satisfactory completion of this chapter, readers will be able to:
1. Describe the differences between extrinsic and intrinsic rewards as they relate
to employee compensation programs.
2. Explain how compensation programs are affected by federal, state, and
local laws.
3. List and describe the most common forms of direct financial compensation.
4. List and describe the most common forms of indirect financial compensation.
5. List and describe some of the most common forms of nonfinancial compensation.
c08.indd 263c08.indd 263 12/14/07 12:03:44 PM12/14/07 12:03:44 PM
264 CHAPTER 8 ! Compensation Programs
Impact on Human Resources Management
Despite arguments to the contrary, pay is not the central issue responsible for attract-ing and retaining most employees. Pay is only one of a variety of factors that
impact an employee’s willingness to work. Worker pay is, however, critically important
to employees and employers alike, because it affects so many other business issues.
In general, workers who feel they are unfairly paid will, if possible, seek jobs
they believe more equitably reward their efforts. Alternatively, employers who pay
their employees significantly more than other employers may find their operating
costs are too high to allow them to stay competitive and achieve the profits they
need to stay in business. Unfortunately for HR managers, elusive concepts such as
fair, equitable, and competitive defy unanimous agreement. As a result, the chal-
lenge faced by HR managers is to design and manage compensation systems that are
simultaneously perceived as reasonable by both employees and employers. The best
of HR managers actually go one step further and use their compensation programs
as an essential tool for attracting and retaining excellent workers, as well as maxi-
mizing profits for their employers.
It is important to realize that people rarely are attracted to, or leave, a job for
money alone. Instead, they are attracted or leave for career advancement, new chal-
lenges, lack of appreciation by the company, inability to have an impact, coworker con-
flict, job insecurity, family matters, and a variety of other factors. This is not to imply
that pay is unimportant to workers at all levels; it is critically important.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2. 12-12-22
What Are Employee Benefits?What Are Employee Benefits?
That part of the total compensation
package, other than pay for time
worked, provided to employees in
whole or in part by employer
payments, e.g. life insurance,
pension, workers’ compensation,
vacation, holidays…
4. 12-12-44
Value of Employee BenefitsValue of Employee Benefits
Employees:Employees:
– Expect benefits as part of their total compensationExpect benefits as part of their total compensation
– Do not understand true value of benefitsDo not understand true value of benefits
– Often undervalue their benefitsOften undervalue their benefits
– Often take benefits for grantedOften take benefits for granted
– Often cannot list all benefits receivedOften cannot list all benefits received
– Have preferences regarding types of benefits theyHave preferences regarding types of benefits they
wantwant
6. 12-12-66
Key Issues in Benefit Planning, Design,Key Issues in Benefit Planning, Design,
and Administrationand Administration
Benefits Planning and Design IssuesBenefits Planning and Design Issues
– How to attract good employeesHow to attract good employees
– How to deal with undesirable turnover
– Integrating benefits with other compensationIntegrating benefits with other compensation
componentscomponents
– Strategies for ensuring external competitivenessStrategies for ensuring external competitiveness
– Ensuring that benefits are adequateEnsuring that benefits are adequate
– Whether employee benefits are cost justifiedWhether employee benefits are cost justified
7. 12-12-77
Benefit Administration IssuesBenefit Administration Issues
Who should be protected or benefited?Who should be protected or benefited?
– Series of questions need to be addressedSeries of questions need to be addressed
How much choice should employees haveHow much choice should employees have
among an array of benefits?among an array of benefits?
– Concerns choice (flexibility) in plan coverageConcerns choice (flexibility) in plan coverage
– Standard benefit packageStandard benefit package
– Cafeteria-style,” or flexible, benefit plansCafeteria-style,” or flexible, benefit plans
8. 12-12-88
Benefit Administration Issues (cont.)Benefit Administration Issues (cont.)
How should benefits be financed?How should benefits be financed?
– NoncontributoryNoncontributory
– ContributoryContributory
– Employee financedEmployee financed
Are your benefits legally defensible?Are your benefits legally defensible?
9. 12-12-99
Exhibit 12.3: Contingent Worker BenefitsExhibit 12.3: Contingent Worker Benefits
Compared to Full-Time WorkersCompared to Full-Time Workers
11. 12-12-1111
Exhibit 12.5: Advantages of FlexibleExhibit 12.5: Advantages of Flexible
BenefitsBenefits
Employees choose packages that best satisfy theirEmployees choose packages that best satisfy their
unique needs.unique needs.
Flexible benefits help firms meet the changingFlexible benefits help firms meet the changing
needs of a changing workforce.needs of a changing workforce.
Increased involvement of employees and familiesIncreased involvement of employees and families
improves understanding of benefits.improves understanding of benefits.
Flexible plans make introduction of new benefitsFlexible plans make introduction of new benefits
less costly.less costly.
Cost containment: Organization sets dollarCost containment: Organization sets dollar
maximum; employee chooses within the constraint.maximum; employee chooses within the constraint.
12. 12-12-1212
Exhibit 12.5: Disadvantages of FlexibleExhibit 12.5: Disadvantages of Flexible
BenefitsBenefits
Employees make bad choices and find themselvesEmployees make bad choices and find themselves
not covered for predictable emergencies.not covered for predictable emergencies.
Administrative burdens and expenses increase.Administrative burdens and expenses increase.
Adverse selection: Employees pick only benefitsAdverse selection: Employees pick only benefits
they will use; the subsequent high benefitthey will use; the subsequent high benefit
utilization increases its cost.utilization increases its cost.
Subject to non-discrimination requirements inSubject to non-discrimination requirements in
Section 125 of the Internal Revenue Code.Section 125 of the Internal Revenue Code.
13. 12-12-1313
Financing Benefits Plans: AlternativesFinancing Benefits Plans: Alternatives
Non-contributoryNon-contributory
– Employer pays total costsEmployer pays total costs
ContributoryContributory
– Costs shared between employer and employeeCosts shared between employer and employee
Employee financedEmployee financed
– Employee pays total costs for some benefitsEmployee pays total costs for some benefits
– By law the organization must bear the cost for someBy law the organization must bear the cost for some
benefitsbenefits
15. 12-12-1515
11
Communicating about the benefits
program
Communicating about the benefits
program
22 Claims processingClaims processing
33 Cost containmentCost containment
Three Administrative Issues
Administering the Benefits ProgramAdministering the Benefits Program
16. 12-12-1616
Methods of communicationMethods of communication
– Employee handbookEmployee handbook
– Personalized benefit statementsPersonalized benefit statements
– Meetings with employeesMeetings with employees
– Multi-media presentationsMulti-media presentations
– IntranetIntranet
– Streamlined call center operationStreamlined call center operation
Communicating Employee BenefitsCommunicating Employee Benefits