Chapter 29 Flashcards
1
Q
What is rough percentage of benefits of payroll cost
A
40%
2
Q
Does benefits motivator
A
No, but they can attract and retain employees.
3
Q
What about benefit money
A
- Insurance payments
- Payment for time not worked
- Legally required contributions (social security, unemployment compensation, provident fund)
- Retirement plan
- Paid rest periods (coffee breaks, lunch break)
- Misc (educational assistance, child care etc)
- Employee security benefits (retirement security)
- Time-off benefits (leaves)
- Work scheduling benefits (flextime)
- Employee services (financial services)
- Family oriented (elder care, relocation)
- Purchase discounts
4
Q
What are type of insurance benefits
A
- Health insurance
- Life insurance
- Vision insurance
- Dental insurance
- Mental insurance
- Disability insurance
5
Q
What is job sharing
A
Husband wife are working together. They can share their work.
6
Q
What are retirement benefits
A
- Early retirement options
- Pre-retirement counseling
- Disability retirement benefits
- Health care for retirees
- Pension Plans
7
Q
What are pre retirement programs
A
- Silver handshake
- Preretirement programs
8
Q
What are 2 types of pension
A
- Contributory plan (contributions to a plan are made jointly by employees and employers)
- Noncontributory plan (contributions to a plan are made solely by the employer)
9
Q
What are 3 factors to consider when awarding bonus
A
- Eligibility: based on job level and salary
- Fund size: use a formula
- Individual awards: based on performance
10
Q
Is bonus short term motivator
A
Yes
