CHAPTER 15 MANAGING EMPLOYEE BENEFITS

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-2 n Objectives   Define what a benefit is and identify two strategic reasons that employers provide benefits   Distinguish between mandated and voluntary benefits and list three examples of each   Describe two security benefits   List and define at least six pension-related terms   Explain why health-care cost management has become important and identify some methods of achieving it   Discuss why family-oriented and time-off benefits have grown in importance to many employees   Discuss benefits communication and flexible benefits as considerations in benefits administration

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-3

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-4 n n Security Benefits   Workers’ compensation   Requirements   Controlling costs   Unemployment compensation   Criticism   Supplemental unemployment benefits   Severance pay

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-5 n n Retirement Security Benefits   Age discrimination   Early retirement   Older Workers Benefit Protection Act (OWBPA)   Retiree benefits   Social Security   Social security charges   Pension plans   Employee Retirement Income Security Act (ERISA)   Pension contributions   Pension benefits   Vesting rights   Portability   Gender discrimination   Individual Retirement Benefit Options   IRAs   401(K) and 403(B) plans   Keough plans

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-6 n n Health-Care Benefits   Health-care costs   Managed care   PPOs   HMOs   Other health-care management tools   Copayment   Utilization review   Wellness / communication programs   Health-care legislation   COBRA provisions   HIPAA provisions

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-7 n n Financial and Other Benefits   Financial benefits   Other insurance benefits   Life insurance   Disability insurance   Legal insurance   Educational benefits   Social / recreational benefits

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-8 n n Family-Oriented Benefits   Family and Medical Leave Act (FMLA)   Eligibility   Employer reaction   Family-care benefits   Adoption   Child care   Elder care   Benefits for domestic partners and spousal equivalents

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing 15-9 n n Time-Off Benefits   Holiday pay   Vacation pay   Leaves of absence   Family leave   Medical and sick leave   Paid time-off plans   Other leaves

Chapter 15 MANAGING EMPLOYEE BENEFITS Human Resource Management, 9E Mathis and Jackson © 2000 South-Western College Publishing n n Benefits Administration   Benefits communication   Benefits statements   HRIS and benefits communication   Flexible benefits   Flexible spending accounts   Advantages   Disadvantages