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Human Resource Management > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

Supplemental compensation which they receive in addition to their direct wages or incentive pay. These are not substitutes for wages or salaries.

A

Employee Benefits

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2
Q

These benefits represent labor costs over and above straight-time earning, given to employees to provide them with facilities and assistance.

A

Employee Benefits

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3
Q

Indirect additional pay to employees to improve their living conditions, the original purpose of which was to supplement his compensation, to assist the employee or his family in case of illness, death or retirement.

A

Fringe Payments

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4
Q

Principles of Fringe Benefits

A

Mutual value to employer and employee
Financing within the capacity of the company
Equitably administered
Must suit employee needs and preferences to provide maximum incentives

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5
Q

9 Reasons for granting Fringe Benefits

A
  1. Provision for the need of employees
  2. Meeting union demands
  3. Maintaining the worker’s living standards
  4. Management’s willingness
  5. Increased government regulation of business and industry
  6. Boosting employee morale
  7. Effects of World War II
  8. Effects of inflation and other economic causes
  9. To attract and retain employees
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6
Q

5 Types of Employee Benefits and Services

A
  1. Economic and financial benefits
  2. Recreational, social and athletic services
  3. Health and medical services
  4. Professional services
  5. Services for employees’ family welfare and convenience
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7
Q

Intended to provide financial assistance to the employees and their families, especially in times of sickness, accidents, old age and unemployment.

A

Economic or Financial Benefits

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8
Q

Examples are christmas bonus, other bonuses(except production and incentive bonus), insurance, retirement and pension plans, profit sharing plans, credit unions, savings and loan facilities, home financing, service awards and transportation.

A

Economic or Financial Benefits

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9
Q

Aim to provide employees with opportunities for the fruitful use of their leisure hours. These activities create friendly, personal, informal relationships among employees.

A

Recreational, Social and Athletic Services

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10
Q

Such as employee educational and vocational guidance, employee counseling, legal aid and tax aid are rendered to the employees by the professional staff. Done because employees generally cannot afford to pay for these services outside.

A

Professional Services

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11
Q

Helping the employee adjust himself to the challenges of changing conditions in their living and working environment.

A

Counseling Service

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12
Q

Before establishing a counseling service, consider the following:

A

The need for such a service
The expenses involved and affordability
The availability of a competent counselor
The ability of HR manager to handle such a job

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13
Q

This program involves advice of a general nature on such matters as leases, debts, wills, tax returns, and the drawing up of legal documents.

A

Legal Advice

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14
Q

Provided to prepare their workers for higher jobs and responsibilities. Such programs may involve one or more of the following: Scholarship awards, in-service training, leaves of absence, seminars, conference, workshops, travels, and plant visits.

A

Education and Self-development

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15
Q

Being away from work with the authorization and consent of the owner. The period spent for this does not interrupt the service seniority of the employee

A

Vacation leave with Pay

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16
Q

3 concepts of granting vacation leave with pay

A
  1. Employer’s investment on the health of its workers
  2. Recognizing employee loyalty and length of service
  3. Promoting sound employee morale.
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17
Q

Granted to an employee who is suffering from an ailment which prevents him from reporting for work, enabling him to get the rest and treatment he needs.

A

Sick leave

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18
Q

Days granted for vacation leave by the Labor Code

A

5 working days per year, called incentive leave

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19
Q

Such as further education; extended maternity leave; extended illness; sickness or death in the family.

A

Leave of absence without pay

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20
Q

Self-help cooperatives formed by employees to help solve some of their personal financial problems by making loan available at low rates of interest.

A

Credit Union

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21
Q

A cooperative society incorporated for the two-fold purpose of promoting thrift among its members and creating as source of credit for them to legitimate rates of interest for provident purposes.

A

Credit Union

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22
Q

Membership in an industrial credit union

A

through the purchase of stocks

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23
Q

Employee’s credit union process

A

Through payroll deduction, the employer collects reasonable, fixed amount from the employee’s pay and provides facilities to have theses savings deposited in a fund managed by either the company or employee representatives.

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24
Q

Recognition given to employees who have rendered a certain number of years of service to the company, such as testimonial luncheon or dinner, gifts, cash awards, etc. Usually given at the end of every 5th year of service.

A

Service Awards

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25
Q

Giving sums of money equivalent to one-half or one month pay for every year of service with the company. This is in addition to the benefits under SSS or GSIS. Some make it compulsory at age 60 or 65 or upon 30 years of service.

A

Retirement

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26
Q

15 minute break during an employee’s lunch period

A

Coffee Break

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27
Q

Average workers cannot pay for protection against unforeseen economic loss due to illness, accident or death. To help them during these contingencies, some provide them security under _________ wherein the premium payments are either shared by the employee and the employer or borne by the employer alone.

A

Group Insurance

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28
Q

Created by Republic Act No. 1161. To render assistance to workers and their families in case the source of their income is terminated, reduced or interrupter because of sickness, disability, death or old age,

A

Social Security System

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29
Q

grants retirement benefits, maternity disability, sickness and funeral benefits.

A

Social Security System

30
Q

To avail salary loans

A

pay 34 monthly contributions for a month’s salary loan (the amount not to exceed P4,000)

31
Q

Employees’ Compensation and State Insurance Fund

A

All employees in the private or public who suffer work connected sickness or injury resulting in disability are entitled to benefits under this program.

32
Q

Coverage for Self Employed

A

Presidential Decree No. 1636, self-employed who are not yet 61-years old and annual gross income = 1800 are subject to the compulsory SSS coverage

33
Q

Philhealth

A

National Health Insurance Act of 1995, Republic Act No. 7875. Compulsory and automatic upon all employees under this act.

34
Q

Rate of Contribution

A

Monthly health insurance = 2.5 percent of the salary base of the range within which their basic monthly salary belongs.

35
Q

Philhealth-Health Concern Benefits

A

Inpatient Coverage
Outpatient Coverage
Special benefit Packages

36
Q

Philhealth provides financial support for room and lodging, medication, laboratory testing and confinements exceeding 24 hrs.

A

Inpatient Coverage

37
Q

Freestanding Clinics, Cancer Treatment such as Chemotherapy, Radiotherapy, Kidney Dialysis Treatment

A

Outpatient Coverage

38
Q

Enhanced Outpatient Benefit package: Coverage for up to the third normal delivery, newborn care package, TB treatment through DOTS, SARS and Avian Influenza Package

A

Special Benefit Packages

39
Q

The periodic payment to workers who are retired from the company because of advanced age, illness, infirmity, or for other reasons as determined by the employer and as provided for in the plan.

A

Pension

40
Q

Aims of pension plans

A
  1. Provide a deferred compensation, payable upon retirement due to old age or disability
  2. To retire from the company, in a considerate manner.
  3. To reward employees who have rendered long service
  4. To relieve workers of uncertainty of the future
  5. To provide openings for younger Employees
41
Q

A store operated with little or no profit, to provide a convenient place where the employees can shop, help the employees save because goods are sold at lower prices in it.

A

Company store and Cafeteria

42
Q

2 types of libraries provided by companies depending upon the size and industry they are engaged in.

A

Reading room

Specialized Library

43
Q

Provides space for few books and periodicals

A

Reading room

44
Q

Aims to provide information relevant to the company’s products and business. Provides books such as encyclopedias, monograms, research work, periodicals. with full time librarian,

A

Specialized Library

45
Q

An acute problem for workers especially when the company is located where there are no regular vehicular facilities, or when the company operates night shifts. To attract and keep workers and reduce labor turnover, the company often provides bus services.

A

Transportation

46
Q

problem among companies whose base of operation takes their workers away from population, handled by either helping the employees locate living quarters through classified ads, appoint someone to help employees obtain quarters, extend financial aid to employees who wish to build their own homes, or to undertake construction of homes to be sold or rented to employees at cost.

A

Housing

47
Q

An incentive plan under which an employer agrees to share with his personnel a specified portion of the net profits of his business at the end of each fiscal period or over a given period. It is not a pension or a bonus.

A

Profit-sharing

48
Q

The types of plans

A
  1. The cash plan
  2. The deferred distribution plan
  3. The Stock purchase plan
49
Q

Also known as current distribution plan, provides for payment of the employee’s share in the profit in cash based on his salary or wage. Shares under this are generally paid quarterly, semi-annually or annually.

A

The Cash Plan

50
Q

Establishes a trust fund to provide employees with future payment. The distribution of profits is withheld until the employee’s retirement, death or disability. Most cases, there are withdrawal provisions which the employee can avail in times of dire need

A

The Deferred Distribution Plan

51
Q

Participation employees are permitted to purchase, often through payroll deductions, shares of company stock, either at less than the prevailing market price or at par value. This would lend to lead to an expanded capital market this widening the ownership base of the corporation.

A

Stock Purchase Plan

52
Q

How to succeed in profit sharing

A

Don’t expect it to substitute for competent management.
Don’t go into it unless you are willing to accept the worker as your “partner in business”.
Don’t it to work unless you contribute enough to motivate your employees.
Don’t copy another company’s plan
Don’t do it unless you are willing to expend time and energy communicating the philosophy of profit sharing to others.
Don’t let the program get rusty.
Don’t stumble into profit sharing, evaluate existing plans, obtain competent advice from professionals.

53
Q

PGS

A

Productivity Gainsharing Plans

54
Q

Generally preferred by employers over profit sharing plans, these form part of the company’s monetary reward system and are closely linked to productivity increases.

A

Productivity Gainsharing Plans

55
Q

3 types of PGS

A

Based on individual output
Time saved by the worker
Cooperation or Group based

56
Q

an example of this type of PGS is the Taylor differential piece rate plan, wherein the worker is guaranteed his base rate, even if he fails to earn that amount in terms of output. It aimed at encouraging slower workers to quit and find employment elsewhere by paying them low rates. Resented by employees, but effective ate attaining high productivity levels.

A

Based on Individual Output

57
Q

Include the standard time plan, the measured day work, Emerson plan, Gantt Task and Bonus Plan. These effect productivity increases by motivating employees to be efficient in the time spent for producing their outputs.

A

Time saved by the worker

58
Q

A plan that can be applied to a clerical work, establishing a scale of “empiric” earnings to be paid according to a set scale of efficiencies.

A

Emerson Plan

59
Q

A cross between time plans and piece rate plans, intended to replace Taylor’s low rates for low achieves. Sharp increases are given for productivity increases, approximately 30% increase is given bonus earnings a re given at the rate of 1.3% for every 1% increase in productivity.

A

Gantt Task and Bonus Plan

60
Q

Recognizes the efforts of various individual in effecting productivity increases for the company, with 3 popular plans of this type.

A

Cooperation or Group Based

61
Q

3 Cooperation Based Plans

A
  1. Scanlon Plan
  2. Rucker Plan
  3. Improshare Plan
62
Q

Represents the labor-management cooperation to increase productivity, suggesting systems and production committees to help tackle productivity issues by comparing current performance with a base period performance.

A

Scanlon Plan

63
Q

A provision for future deficit months, distributed at the end of the year to employees in the form of a jackpot.

A

Reserve fund

64
Q

Also known as “Share of Production Plan”, financial incentives are given, based on direct proportion to the increase in production value. This, for every % increase in production value, workers get a bonus of 1% or their total payroll cost. The company does not share in the productivity gains.

A

Rucker Plan

65
Q

In short for improved productivity through sharing, it seeks it improve production by the efficient use of labor hours. A base period is selected, determining the number of hours need to produce a unit of work. Work hours include all employees’ work hours. Current performance is then compared with the base period performance to arrive at the computation of hours gained. sharing system between company and employees is 50-50.

A

Improshare Plan

66
Q

This acts aims to encourage productivity to maintain industrial peace by providing incentives to labor and capital. It enjoins all business organizations to establish productivity incentive programs.

A

Productivity Incentives Act of 1990, RA 6971

67
Q

Components of the Productivity Incentives Program

A

Productivity Improvement Program
Productivity Gainsharing Program
Manpower Training and Special Studies

68
Q

To include any intervention or systematic process designed to increase the productivity of various factor inputs, such as materials, labor, capital and energy

A

Productivity Improvement Program

69
Q

Shall specify an incentive system whereby employees are given equitable share from plans brought about by improved productivity

A

Productivity Gainsharing Program

70
Q

Studies proposed by the Labor Management Committee aimed at developing the skills of the rank and file employees may be included.

A

Manpower Training and Special Status

Human Resource Management (4 decks)

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