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Chapter 13Learning Objectives
1. Discuss the importance of benefits as a part of employee compensation.
2. Summarize the types of employee benefits required by law.
3. Describe the most common forms of paid leave.
4. Identify the kinds of insurance benefits offered by employers.
Chapter 13Learning Objectives (continued)
5. Define the types of retirement plans offered by employers.
6. Describe how organizations use other benefits to match employees’ wants and needs.
7. Explain how to choose the contents of an employee benefits package.
Chapter 13Learning Objectives (continued)
8. Summarize the regulations affecting how employers design and administer benefits programs.
9. Discuss the importance of effectively communicating the nature and value of benefits to employees.
The Role of Benefits in Compensation
Role of Benefits in the Compensation Package
Costs - $18,000 per employee per year
as of 2009, 30 percent of payroll
Total Compensation Package
Cafeteria Approach (Flexible Plans)
Benefits as a Percentage of Total Compensation
Categories of Benefits1. Benefits required by law
2. Paid Leave and Insurances
Categories of Benefits
3. Retirement Plans
4. Family Friendly Benefits
Categories of Benefits5. Other Benefits/Services
Legal Requirements for Employee Benefits
Communicating Benefits to Employees
• Promotes employee appreciation of the value of their benefits.
• Essential to achieve the objectives of attracting, motivating, and retaining good employees.
• Employee interest and informed choices.
Communicating Benefits to Employees (continued)
