MGMT 443 - Employee Benefits

MGMT 443 - Employee Benefits pt. 1 MGMT 443 - Employee Benefits pt. 2 MGMT 443 - Employee Benefits pt. 3 MGMT 443 - Employee Benefits pt. 4
 * Statutory Benefits
 * Voluntary Benefits
 * Benefits Management
 * Way of thinking of someones total compensation
 * Should average 30% of total benefits (Wages + Benefits)
 * Utilization Analysis
 * How much do people utilize this benefit?
 * Considerations
 * Amount of Benefits - How much can we afford to offer?
 * What to offer - Daycare, Healthcare, etc...
 * Flexibility - Some are optional
 * Communicating Value
 * Employee should understand worth of benefits
 * Cost-Benefit Analysis
 * Return on investment
 * Improve Morale
 * Employee Retention
 * Avoid sickness
 * Statutory Benefits
 * Social Security
 * Retirement Income
 * Medicare
 * Survivor benefits
 * Disability benfits
 * Workers Compensation
 * For injured or disabled employees
 * If they're injured on the job
 * Unemployment Insurance
 * Provides fixed period of income to employees who have lost their job
 * There are limitations
 * There's an adversarial relationship
 * Can be voided by egregious action
 * FMLA (Family and Medical Leave Act)
 * No paid leave by default
 * Provides 12 work weeks of unpaid leave
 * Must have worked for 12 months first
 * Can be called for multiple reasons
 * Am i Eligible
 * 50+ Employees (Within 75 miles) or Government Agency
 * Is employee eligible
 * Worked 1250 hours and 12 months
 * COBRA (Consolidated Omnibus Budget Reconciliation Act) Obsolete
 * Different times for when you can qualify for COBRA
 * One of several various situation must arise
 * Came to be because of preexisting conditions
 * Temporarily give employees insurance after they're fired
 * Obamacare
 * ERISA (Employee Retirement Income Security Act)
 * If an organization want to provide a retirement plan, they must abide by standard
 * 401K & 403b
 * Pay time off