1. Chapter 13 Learning 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.

2. Chapter 13 Learning 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.

3. Chapter 13 Learning 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.

4. The Role of Benefits in Compensation

5. 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)

6. Benefits as a Percentage of Total Compensation

7. Categories of Benefits 1.Benefits required by law 2. Paid Leave and Insurances

8. Categories of Benefits 3. Retirement Plans 4. Family Friendly Benefits

9. Categories of Benefits 5. Other Benefits/Services

10. Legal Requirements for Employee Benefits

11. 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.

12. Communicating Benefits to Employees (continued) MEDIAAUDIENCEPURPOSE Enrollment packageAll employeesAnnounce changes or new hire enrollment MeetingsLocal employeesProvide information on benefits and changes Teleconference messaging All employeesProvide information on benefits and changes E-mail alertsSupervisorsProvide employees with information Summary plan descriptions All employeesMake available compliance information Paycheck attachmentsAll employeesProvide information on benefits WebcastsRegional managersShare context for changes and their roles and responsibilities