This document discusses health insurance and its importance for employee compensation and retention. It defines health insurance as insurance that covers individuals against medical expenses and outlines how insurers estimate risks to set premiums and coverage. Group health insurance covers common groups like employees and helps companies identify and mitigate risks for their staff while also attracting talented employees with health coverage benefits.
Rewards, Benefits and Incentives of an OrganizationMasum Hussain
Workforce today is more articulate about their needs. Employees desire the best of everything – competitive salaries, comfortable & inspirational lifestyles, job security, career enhancement options, work-life balance, and so on. Competition for talent is ever increasing and organizations need to have well-defined philosophies and strategies to help them develop innovative ways of tapping intrinsic motivation of employees by engaging their hearts and minds. While many organisations are struggling to make sufficient progress in this direction, there are organizations that have institutionalized robust practices and effective processes in different people practice areas that go a long way in positively impacting employee perception. In this regard, two types of reward are identified, and they are intrinsic reward and extrinsic reward. Extant research showed that reward can affect job satisfaction and thereby employee performance, so this study proposes a new framework based on mediating role of job satisfaction. India’s Best Companies for Rewards and Recognition was conceptualized to recognize companies who are leading the way in the area of Rewards and Recognition for us learns from. Human resources are the most important among all the resources an organization owns. To retain efficient and experienced workforce in an organization is very crucial in overall performance of an organization. Motivated employees can help make an organization competitively more value added and profitable. The present study is an attempt to find out the major factors that motivate employees and it tells what is the relationship among reward, recognition and motivation while working within an organization. The data were collected from employees of diverse type of organizations to gain wide representation of sectoral composition. The participation in survey was voluntary and confidentiality of responses was ensured. The statistical analysis showed that different dimensions of work motivation and satisfaction are significantly correlated and reward and recognition have great impact on motivation of the employees. Implications of the study for managers and policy makers in the context of human resource practices have been discussed. Limitations and guidelines for future research are also provided.
Rewards, Benefits and Incentives of an OrganizationMasum Hussain
Workforce today is more articulate about their needs. Employees desire the best of everything – competitive salaries, comfortable & inspirational lifestyles, job security, career enhancement options, work-life balance, and so on. Competition for talent is ever increasing and organizations need to have well-defined philosophies and strategies to help them develop innovative ways of tapping intrinsic motivation of employees by engaging their hearts and minds. While many organisations are struggling to make sufficient progress in this direction, there are organizations that have institutionalized robust practices and effective processes in different people practice areas that go a long way in positively impacting employee perception. In this regard, two types of reward are identified, and they are intrinsic reward and extrinsic reward. Extant research showed that reward can affect job satisfaction and thereby employee performance, so this study proposes a new framework based on mediating role of job satisfaction. India’s Best Companies for Rewards and Recognition was conceptualized to recognize companies who are leading the way in the area of Rewards and Recognition for us learns from. Human resources are the most important among all the resources an organization owns. To retain efficient and experienced workforce in an organization is very crucial in overall performance of an organization. Motivated employees can help make an organization competitively more value added and profitable. The present study is an attempt to find out the major factors that motivate employees and it tells what is the relationship among reward, recognition and motivation while working within an organization. The data were collected from employees of diverse type of organizations to gain wide representation of sectoral composition. The participation in survey was voluntary and confidentiality of responses was ensured. The statistical analysis showed that different dimensions of work motivation and satisfaction are significantly correlated and reward and recognition have great impact on motivation of the employees. Implications of the study for managers and policy makers in the context of human resource practices have been discussed. Limitations and guidelines for future research are also provided.
PowerPoint presentation on Variable Pay Viren Patwa
Hello friends my self viren an i gonna share u PowerPoint presentation on Variable Pay with important details highlighted
If u like my presentation pls like an share have a good thank you
Employee Salary Break Up PowerPoint Presentation Slides SlideTeam
Presenting this set of slides with name - Employee Salary Break Up 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 thirty nine slides. Our tailor made Employee Salary Break Up Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Employee Salary Break Up 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.
What is Gratuity and how much amount is exempt from tax? To know more about gratuity: https://blog.tax2win.in/need-know-gratuity/
Calculate the amount of gratuity tax treatment of yours well in advance: https://tax2win.in/tax-tools/gratuity-calculator
ESIC ACT, 1948
Slides content:
Introduction
Origin
Objective & Applicability
Administration & Registration
Identity card
Employers & Employee contribution
Benefits under the scheme
Benefits to Employers
Rajiv Gandhi shramik Kalyan Yojna
Certification of return of contribution by Auditor
Records to be maintained for inspection by ESI authorities
Employees Insurance court
Special provisions
other provision
Important forms to be submitted under the Act
End.
PowerPoint presentation on Variable Pay Viren Patwa
Hello friends my self viren an i gonna share u PowerPoint presentation on Variable Pay with important details highlighted
If u like my presentation pls like an share have a good thank you
Employee Salary Break Up PowerPoint Presentation Slides SlideTeam
Presenting this set of slides with name - Employee Salary Break Up 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 thirty nine slides. Our tailor made Employee Salary Break Up Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Employee Salary Break Up 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.
What is Gratuity and how much amount is exempt from tax? To know more about gratuity: https://blog.tax2win.in/need-know-gratuity/
Calculate the amount of gratuity tax treatment of yours well in advance: https://tax2win.in/tax-tools/gratuity-calculator
ESIC ACT, 1948
Slides content:
Introduction
Origin
Objective & Applicability
Administration & Registration
Identity card
Employers & Employee contribution
Benefits under the scheme
Benefits to Employers
Rajiv Gandhi shramik Kalyan Yojna
Certification of return of contribution by Auditor
Records to be maintained for inspection by ESI authorities
Employees Insurance court
Special provisions
other provision
Important forms to be submitted under the Act
End.
Workers' Compensation Insurance is a crucial aspect of protecting both employees and businesses. It provides financial support and medical benefits to employees who suffer work-related injuries or illnesses. At the same time, it shields businesses from potential lawsuits and hefty financial burdens. Understanding the key benefits and legal requirements of workers' compensation insurance is essential for both employers and employees.
Key Benefits of Workers' Compensation Insurance:
Medical Expenses Coverage: Workers' compensation insurance covers medical expenses related to work-related injuries or illnesses. This includes doctor visits, hospitalization, medication, rehabilitation, and other necessary treatments.
Lost Wages Compensation: If an employee is unable to work due to a work-related injury or illness, workers' compensation insurance provides wage replacement benefits. This ensures that the injured employee receives a portion of their regular income while they are unable to work.
Disability Benefits: In cases where the employee suffers a temporary or permanent disability due to a work-related incident, workers' compensation insurance may provide disability benefits. These benefits can help compensate for the loss of earning capacity caused by the disability.
Death Benefits: If an employee dies due to a work-related incident, workers' compensation insurance provides death benefits to the employee's dependents. These benefits typically cover funeral expenses and provide financial support to the deceased employee's family.
Legal Protection: Workers' compensation insurance offers legal protection to both employers and employees. By providing benefits to injured workers, it helps prevent employees from filing lawsuits against their employers for work-related injuries or illnesses. Additionally, it shields employers from potential legal liabilities and hefty financial settlements.
Legal Requirements of Workers' Compensation Insurance:
Employer Obligation: In most jurisdictions, employers are legally obligated to carry workers' compensation insurance. The specific requirements may vary by state or country, but generally, employers must provide coverage for their employees. Failure to comply with these requirements can result in penalties, fines, and legal consequences.
Coverage Eligibility: Workers' compensation insurance typically covers all employees, including full-time, part-time, temporary, and seasonal workers. However, independent contractors and self-employed individuals are usually not covered under traditional workers' compensation policies.
Timely Reporting: Employers are required to promptly report any work-related injuries or illnesses to their workers' compensation insurance carrier. This includes providing detailed information about the incident, the injured employee, and any witnesses.
State-Specific Regulations: Each state or country has its own regulations regarding workers' compensation insurance.
Explore the benefits of group health insurance in Massachusetts with Taylor Benefits Insurance. We secure the health and happiness of your team with our trusted group health insurance services. To know more you can read our ppt. https://www.taylorbenefitsinsurance.com/massachusetts-large-group-health-insurance/
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.
"Discover ICICI Lombard's Group Health Insurance Policy designed for SMEs. Explore comprehensive coverage, cost savings, and employer benefits. Secure the health and well-being of your employees with trusted insurance solutions."
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 ...
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.
What do you understand by Employee Benefits, explain the contempora.pdfritu816025
What do you understand by Employee Benefits, explain the contemporary benefits offerings to
employees?.
Solution
Employee Benefits
Employee benefits are optional, non-wage compensation provided to employees in addition to
their normal wages or salaries. These types of benefits may include group insurance (health,
dental, vision, life etc.), disability income protection, retirement benefits, daycare, tuition
reimbursement, sick leave, vacation (paid and non-paid), funding of education, as well as
flexible and alternative work arrangements.
The benefits of benefits plans
Although expensive, there are many intrinsic benefits to providing your employees with a
comprehensive benefit plan. For most, it is the ability to find and keep highly qualified staff that
is the key driver. With the sector being highly competitive and the number of new employees
entering the workforce dwindling, employers are challenged to become even more creative and
responsive in the design, timing and generosity of their benefit plans. The more progressive the
organization, the more flexible the structure is in response to today.
Group health insurance coverage is a vital component of employee benefits offered by companies like Kang Group Services. It provides medical coverage to a group of people, typically employees of a business, and often extends to their dependents. This insurance plan ensures that employees have access to necessary healthcare services, promoting their well-being and productivity.
Every American is entitled and bound to avail Minimum Essential Coverage (MEC) under the Affordable Care Act (ACA) - also known as Obamacare. While some opt for individual health insurance plans offered by private institutions, more than 60% opt for Employer-Sponsored Health Insurance. Employer-Sponsored Health Insurance makes your work easy because you don't have to go through multiple insurance plans available online. Employers, on an average pay 82% of your premium for a single insurance policy. For employers also this is a win-win situation because it results in employee retention, better health of employees thus more productivity. Employers use good health benefits as a great tool to recruit sought-after talent in the industry.
The slide deck talks about Employer-Sponsored Health Insurance, its comparison to individual health insurance and the win-win situation for employee and employer.
HRM500 Week 8 Scenario Script: Providing Employee Benefits
Slide #
Scene/Interaction
Narration
HRM500 Week 8 Scenario Script - Part 1: Providing Employee Benefits
Slide 1
Scene 1
Angela’s Office
HRM500_8_1_Angela-1: Welcome back, team! Today we need to take a look at employee benefits such as insurance, retirement, and paid time off.
Benefits are part of the total compensation package paid to employees. Benefits serve a function similar to pay. Benefits help to attract, retain and motivate employees.
Employees look for different types of benefits, and should examine their benefits regularly. Benefits can also be complex and expensive. If we spend a lot on benefits but employees do not understand their value or how to use them, the company will waste money.
At today’s meeting, we will examine benefits required by law, optional benefit programs, selecting employee benefits, legal requirements for employee benefits and communicating benefits to employees.
Slide 2
Scene 2 – Angela’s office
HRM500_8_2_Angela-1: Ashley and Michael, we need to look at creating a benefits package for the upcoming year for the organization.
Employees have come to expect that benefits will help them maintain economic security. Even though many kinds of benefits are not required by law, they have become so common that today’s employees expect them. Where do you think we should start?
HRM500_8_2_Ashley-1: We should first look at benefits required by law. The federal and state governments require various forms of social insurance to protect workers from the financial hardships of being out of work.
Social Security provides support for retired workers; unemployment insurance assists laid-off workers; and workers’ compensation provides benefits and services to workers injured on the job.
HRM500_8_2_Michael-1: Employers must also provide unpaid leave for certain family and medical needs. Because these needs are required by law, employers cannot gain an advantage in the labor market by offering them, nor can they design these benefits. The emphasis for these benefits must be adhering to the law.
Slide 3
Scene 3 - Angela’s office
2 person, 3 part interaction will be used for the 3 most common types of health care plans
HRM500_8_3_Angela-1: Good observations on required benefits, team! Now let’s take a look at optional benefit programs. These include various kinds of insurance, retirement plans and paid leave.
HRM500_8_3_Ashley-1: The main areas of paid leave are vacations, holidays, and sick leave. We should also establish policies for other situations that require time off. Organizations often provide paid leave for jury duty, funerals of family members, and military duty.
HRM500_8_3_Michael-1: Some organizations even offer paid time off to vote and donate blood! Establishing policies communicates the organization’s values, clarifies what employees can expect, and prevents situations in which unequal treatment leads to claims of unfairness.
HRM500_8_3_A.
HRM500 Week 8 Scenario Script: Providing Employee Benefits
Slide #
Scene/Interaction
Narration
HRM500 Week 8 Scenario Script - Part 1: Providing Employee Benefits
Slide 1
Scene 1
Angela’s Office
HRM500_8_1_Angela-1: Welcome back, team! Today we need to take a look at employee benefits such as insurance, retirement, and paid time off.
Benefits are part of the total compensation package paid to employees. Benefits serve a function similar to pay. Benefits help to attract, retain and motivate employees.
Employees look for different types of benefits, and should examine their benefits regularly. Benefits can also be complex and expensive. If we spend a lot on benefits but employees do not understand their value or how to use them, the company will waste money.
At today’s meeting, we will examine benefits required by law, optional benefit programs, selecting employee benefits, legal requirements for employee benefits and communicating benefits to employees.
Slide 2
Scene 2 – Angela’s office
HRM500_8_2_Angela-1: Ashley and Michael, we need to look at creating a benefits package for the upcoming year for the organization.
Employees have come to expect that benefits will help them maintain economic security. Even though many kinds of benefits are not required by law, they have become so common that today’s employees expect them. Where do you think we should start?
HRM500_8_2_Ashley-1: We should first look at benefits required by law. The federal and state governments require various forms of social insurance to protect workers from the financial hardships of being out of work.
Social Security provides support for retired workers; unemployment insurance assists laid-off workers; and workers’ compensation provides benefits and services to workers injured on the job.
HRM500_8_2_Michael-1: Employers must also provide unpaid leave for certain family and medical needs. Because these needs are required by law, employers cannot gain an advantage in the labor market by offering them, nor can they design these benefits. The emphasis for these benefits must be adhering to the law.
Slide 3
Scene 3 - Angela’s office
2 person, 3 part interaction will be used for the 3 most common types of health care plans
HRM500_8_3_Angela-1: Good observations on required benefits, team! Now let’s take a look at optional benefit programs. These include various kinds of insurance, retirement plans and paid leave.
HRM500_8_3_Ashley-1: The main areas of paid leave are vacations, holidays, and sick leave. We should also establish policies for other situations that require time off. Organizations often provide paid leave for jury duty, funerals of family members, and military duty.
HRM500_8_3_Michael-1: Some organizations even offer paid time off to vote and donate blood! Establishing policies communicates the organization’s values, clarifies what employees can expect, and prevents situations in which unequal treatment leads to claims of unfairness.
HRM500_8_3_A ...
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2. Prepared By
Kindly restrict the use of slides for personal purpose.
Please seek permission to reproduce the same in public forms and presentations.
Manu Melwin Joy
Assistant Professor
Ilahia School of Management Studies
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com
3. Health Insurance
• It is a well known fact that
an employee values a health
insurance cover and its
benefits. It is viewed by the
employee as the second best
thing next to monetary
compensation, and gives the
employer the added
advantage of being able to
employ and retain the best
in the business.
4. Health Insurance
• Health insurance is
insurance against the risk
of incurring medical
expenses among
individuals.
5. Health Insurance
• By estimating the overall risk
of health care and health
system expenses, among a
targeted group, an insurer
can develop a routine
finance structure, such as a
monthly premium or payroll
tax, to ensure that money is
available to pay for the
health care benefits
specified in the insurance
agreement.
6. Health Insurance
• Group health insurance is a
medical insurance that covers
a group of people, who are
usually the members of
societies, employees of a
common company, or
professionals in a common
group. Group health insurance
helps companies identify and
mitigate the risks faced by
their employees.
7. Health Insurance
• Rising costs of healthcare
have made it necessary for
every employer to cover
their employees and their
families from financial
instability that may arise in
case of hospitalization.
8. Health Insurance
• Also, group health insurance
helps companies in attracting
talented staff. Whether you are
a small group or a company,
you can easily retain best
talent in the industry by
offering comprehensive health
insurance coverage.
