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Compensation And Benefits In Hrm PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Compensation And Benefits In Hrm Powerpoint Presentation Slides. This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with thirty five slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Compensation And Benefits In Hrm Powerpoint Presentation Slide with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.
The compensation strategy is the essential strategy for the business, which wants to eliminate the external competition from attacking the top talents. The company has to define its position on the job market, it has to identify bene
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how to create a market-competitive pay plan
pricing managerial and professional jobs
contemporary topics in compensation
Compensation And Benefits In Hrm PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Compensation And Benefits In Hrm Powerpoint Presentation Slides. This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with thirty five slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Compensation And Benefits In Hrm Powerpoint Presentation Slide with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.
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4. Learning Objectives
Discuss growth and its reasons in benefits
costs.
Explain provisions of employee benefits pro
grams.
Compare U.S. and other countries’ employe
e benefits.
01
02
03
.
5. Learning Objectives
Describe effects of benefits management o
n cost and work-force quality.
Explain importance of effectively
communicating nature and value of benefits
to employees.
Describe regulatory constraints that affect the w
ay employee benefits are designed and administ
ered.
04
05
06
.
6. Introduction
Average cost of benefits is about 37%
for every payroll dollar.
about 27% of total compensation
package.
Benefits are unique because:
more regulation of benefits
than direct pay.
almost obligatory for employers
to provide.
complex for employees to
understand.
7. Reasons for Benefits Growth
Wage and price controls
instituted during WWII and
labor shortages
Large groupV. individual
insurance
Organized labor
Laws mandating benefits
passed during and after
Great Depression
Tax treatment of benefits programs
-Marginal tax rate is % of an
additional dollar of earnings that
goes to taxes
Employer differentiation
9. .provides old-age insurance, unemployment insurance, survivors' insurance,
disability insurance,hospital insurance and supplementary medical insurance
Social Security
10. Our Services
This PowerPoint Template has clean and neutral design that can
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help unemployed
workers find new
jobs
offset lost income
during involuntary
unemployment
provide an
incentive for
employers to
stabilize
employment
preserve investment
s in worker skills by
providing workers
with income during
short-term layoffs
Unemployment Insurance
4 Objectives of Unemployment Insurance
11. Workers' compensation laws cover job-related
injuries and death.
System is based on no-fault liability.
Covers 90 %of U.S. workers.
4 Categories of Benefits:
1. disability income
2. medical care
3. death benefits
4. rehabilitative services.
Workers’ Compensation
13. • Guarantees a specified retirement be
nefit
level to employees.
• Insulates employees from investment
risk, which is borne by the company.
• PBGC guarantees basic retirement
benefit in case of financial difficulties.
• ERISA increased fiduciary
responsibilities of pension plan
trustees, established vesting rights
and portability provisions and
established PBGC.
Defined Benefit
• Does not promise employees
a specific benefit level upon
retirement.
• Employers shift investment risk to
the employee.
• No need to calculate payments
based on age and service.
• Most prevalent in small companies.
Defined Contribution
Retirement Plans
14. Pay for Time Not Worked
•Vacation:
-Europe- 30 days of mandated vacation is common.
-U. S.- no legal minimum 10 days is common.
•Sick Leave Programs:
-provide full salary replacement for a limited period of
time,
usually not exceeding 26 weeks
-amount based on length of service, accumulating with
service.
15. .To ease employees’ conflicts between work and non-work, organizations may
use family-friendly policies such as family leave policies and child care.
Family-Friendly Policies
16. Managing Benefits:
Employer Objectives and Strategies
•Surveys and Benchmarking
Company should know what competition is
doing.
Surveys information is available from private
consultants, Bureau of Labor Statistics (BLS)
and Chamber of Commerce.
•Cost control
Larger the benefit cost, greater the
savings possibility.
Growth rate of may result in serious
future costs.
Cost containment efforts work to extent
that the employee has significant
direction in choosing how much to
spend in a benefit category.
17. In U. S. spends more on health care than any other country
Health-care expenditures have risen from 5.3 % of GNP in 1960 to 15.3% today.
Cost control attempts – by employers such as managed care, fall into six major categories
•plan design
•use of alternative providers
•use of alternative funding methods
•claims review
•education and prevention
•external cost control systems
Trend - to shift costs to employees through use of deductibles, coinsurance, exclusions
and limitations and maximum benefits.
Healthcare:
Controlling Costs and Improving Quality
18. Health Maintenance Organizat
ions (HMO)
• focus on preventive care and
outpatient treatment.
• require employees to use only
HMO services and provide
benefits on a prepaid basis.
• physicians and health-care
workers paid a flat salary to
reduce incentive of raising
costs.
Preferred Provider Organizat
ions (PPOs)
• contract with employers and
insurance companies to
provide care at reduced
fees.
• do not provide benefits on a
prepaid basis.
• employees often are not
required to use justPPOs.
• less expensive than
traditional health care but
more expensive than HMOs
Healthcare:
Controlling Costs and Improving Quality
19. Employee Wellness Programs
Focus on changing behaviors on and off work time that
could lead to future health problems.
2 Classes of EWP’s:
1. Passive -use little or no outreach to individuals and
provide no ongoing motivational support.
2. Active- assume that behavior change requires not only
awareness and opportunity, but also support and
reinforcement.
3 Types of Employee Wellness Designs
1. Health education
2. Physical fitness fitness facilities
3. Follow-up model
20. Staffing Responses
to Control Benefits Cost Growth
Because benefit cost
s are fixed, benefits
cost per hour can be
reduced by having
employees work
more hours.
01
Classify employees as
exempt, since they
can reduce their
benefit costs per hour
without having to pay
overtime.
.
02
Classify workers as indepen
dent contractors rather than
employees, eliminating the
employer's obligation to
provide legally required
benefits
03
21. Nature of the Workplace
Assessing employee
benefits preferences
is essential.
01
Use market research
methods to assess
employees’ preferences
same way consumers’ de
mand for products and
services are assessed.
02
Care must be taken not to
raise employee
expectations regarding
future changes.
03
23. General Regulatory Issues
Benefit plans must
meet nondiscrimination
rules and qualified
plans.
Sex, Age, and
Disability
Monitoring Future
Benefits Obligation–
Financial Accounting
Statement (FAS)
106
Need to balance
interest of shareholders,
current employees,and
retirees.
01 02 03 04