1. Chapter 13Learning Objectives • Discuss the importance of benefits as a part of employee compensation. • Summarize the types of employee benefits required by law. • Describe the most common forms of paid leave. • Identify the kinds of insurance benefits offered by employers.

2. Chapter 13Learning Objectives(continued) • Define the types of retirement plans offered by employers. • Describe how organizations use other benefits to match employees’ wants and needs. • Explain how to choose the contents of an employee benefits package.

3. Chapter 13Learning Objectives(continued) • Summarize the regulations affecting how employers design and administer benefits programs. • 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 • 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)