Chapter 29 Flashcards Preview

Human Resource Management - MGT501 > Chapter 29 > Flashcards

Flashcards in Chapter 29 Deck (10)
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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
  1. Contributory plan (contributions to a plan are made jointly by employees and employers)
  2. Noncontributory plan (contributions to a plan are made solely by the employer)
9
Q

What are 3 factors to consider when awarding bonus

A
  1. Eligibility: based on job level and salary
  2. Fund size: use a formula
  3. Individual awards: based on performance
10
Q

Is bonus short term motivator

A

Yes