Bài giảng Fundamentals of human resource management - Chapter 13 Providing employee benefits

CHAPTER 13 PROVIDING EMPLOYEE BENEFITSFUNDAMENTALS OF HUMAN RESOURCE MANAGEMENT 5TH EDITIONBY R.A. NOE, J.R. HOLLENBECK, B. GERHART, AND P.M. WRIGHTRole of Employee BenefitsBenefits contribute to attracting, retaining, and motivating employees.Variety of possible benefits helps employers tailor their compensation to kinds of employees they need.Employees have come to expect that benefits will help them maintain economic security.Benefits impose significant costs.Benefits Required by Law:Social SecurityFederal Old Age, Survivors, Disability and Health Insurance (OASDHI) program (Social Security)combines:Old age (retirement) insuranceSurvivor’s insuranceDisability insuranceHospital insurance (Medicare Part A)Supplementary medical insurance (Medicare Part B)Benefits Required by Law:Workers’ CompensationState programs that provide benefits to workers who suffer work-related injuries or illnesses, or to their survivors.Operate under a principle of no-fault liability:Employee does not need to show that the employer was grossly negligent in order to receive compensation.Employer is protected from lawsuits.Benefits Required by Law:Unpaid Family and Medical LeaveFamily and Medical Leave Act (FMLA) of 1993Requires organizations with 50 or more employees to provide up to 12 weeks of unpaid leave:After childbirth or adoptionTo care for a seriously ill family memberFor an employee’s own serious illnessEmployers must guarantee these employees same or comparable job when they return to work.Optional Benefits ProgramsOptional Benefits Programs:Group InsuranceMedical InsuranceSix employer approaches to controlling health care benefits costs: Managed Care Health Maintenance Organizations (HMO) Preferred Provider Organizations (PPO) Flexible Spending Accounts Consumer-Driven Health Plans (CDHP) Employee Wellness Programs (EWP)Optional Benefits Programs:“Family-Friendly” BenefitsLegal Requirements for Employee Benefits