1

Reni RosariFE UGM

8-1

Reni RosariFE UGM

Tunjangan dan Fasilitas(Benefits and Services)

8-2

Reni RosariFE UGM

Tunjangan

pembayaran finansial tidak langsung yang diterima karyawan

Jenis tunjangan:Pay for time not worked (supplemental pay benefits)AsuransiPensiunFasilitas

8-3

Reni RosariFE UGM

Pay for time not worked:1. Unemployment insurance

Tunjangan mingguan yang diterima jika yang bersangkutantidak dapat bekerja karena suatu kendala di luarkesalahannya

2. Vakansi dan liburan3. Sakit (sick leave)4. Severance pay (pesangon): tunjangan diberikan hanya sekali

ketika yang bersangkutan dinonaktifkan5. Supplemental unemployment benefits

Untuk industri tertentu, karyawan diberi tunjangan tahunankarena pemadaman mesin yang dilakukan perusahaan

8-4

Reni RosariFE UGM

AsuransiKompensasi: penghasilan dan tunjangan kesehatan terkaitdengan kecelakaan kerjaAsuransi jiwa secara kelompok: rate yang lebih rendah meskipunmencakup semua karyawanAsuransi kesehatan, cacat fisik, dan tunjangan rumah sakit

PensiunUang pensiun

8-5

Reni RosariFE UGM

Fasilitas Pelayanan KaryawanProgram rekreasiCafetaria/kantinPerumahanBea siswa pendidikanFasilitas pembelianKonseling finansial dan legalDan lain-lain: seragam, fasilitas kendaraan, tempat parkir, bingkisan lebaran/natal/hari raya, penitipan anak, tempatibadah

8-6

Reni RosariFE UGM

Pay For Time Not Worked

Also called supplemental pay benefits is usually the most costly benefit providedInclude holidays, vacations, jury duty, funeral leave, military duty, personal days, sick leave, sabbatical leave, maternity leave, and unemployment insurance payment for laid off or terminated employees

2

Reni RosariFE UGM

8-7

Reni RosariFE UGM

UnemploymentInsurance

All states have unemployment insuranceor compensation actsProvide for benefits if a person is unable to workChecklist to follow to reduce unemployment payouts

8-8

Reni RosariFE UGM

Typical Vacationsand Holidays

One week after 6 months to 1 year of serviceTwo weeks after 1 to 5 years of serviceThree weeks after 5 to 10 years of serviceFour weeks after 15 to 25 years of serviceFive weeks after 25 years of serviceAverage 10 days per year

8-9

Reni RosariFE UGM

Sick Leave

Sick leavePaid time off (PTO) reduces the use of sick leave for non-illness

45%

27%

13%

9%6%

IllnessFamily issuePersonalEntitledStress

8-10

Reni RosariFE UGM

Parental and The Family and Medical Leave Act

Parental leave is an important benefitHalf of workforce is female Many men and women are single parentsPresident Clinton signed FMLA 1993

Leave form

8-11

Reni RosariFE UGM

Uang Pesangon(Severance Pay)

A humanitarian gestureEmployers require 2 weeks notice so only fair to provide 2 weeks severanceCuts down on litigationPlant closure requires 60 days noticeUsually 1 week severance pay for each year worked

8-12

Reni RosariFE UGM

Supplemental Unemployment Benefits

Supplemental unemployment benefits -provide for a “guaranteed annual income” in certain industries

3

Reni RosariFE UGM

8-13

Reni RosariFE UGM

Insurance Benefits

Insurance benefits fall into 3 categoriesWorkers’ compensationHospitalization, health, and disabilityLife insurance

8-14

Reni RosariFE UGM

Workers’ Comp

Workers’ compensation laws provide income and medical benefits Benefits can be monetary or medicalReducing claims and saving premiums

Screen out accident-prone workersReduce accident-causing conditionsGet injured employees back on the jobUse case management

8-15

Reni RosariFE UGM

High PerformanceInsight

Weirton steel established a workers’compensation program to review, contain, and reduce the costs of workers’ compensation

8-16

Reni RosariFE UGM

Hospitalization, Health, and Disability Insurance

Nearly all large companies provide major medical insurancePlans must comply with ADA lawsOptional eye-care and dental coverageAccidental death and dismemberment coverage is another optionHMO’s and PPO’s

8-17

Reni RosariFE UGM

Reducing Health Benefits Costs

Many employers are:Moving away from 100% medical cost payments Increase annual deductiblesRequire medical contributionsUse gatekeepers

8-18

Reni RosariFE UGM

Reducing Health Benefits Costs

Encourage preventative care

5470

1845

3156

0255075100

Drug AbuseStop SmokingFitnessOnsite FitnessCPRBenefits useForm healthcare coalitions

Manage the cost of AIDS

4

Reni RosariFE UGM

8-19

Reni RosariFE UGM

Insurance Benefits

In addition to hospitalization and medical benefits, most employers provide group life insuranceMust address policy issues of:

Benefits-paid scheduleSupplemental benefitsFinancing

8-20

Reni RosariFE UGM

Retirement Benefits

Employers are revising and improving their retirement benefitsBoomers stampede into retirement with most turning 65 in 2011Social security, pension plans and saving plans are primary means

8-21

Reni RosariFE UGM

Social Security

Provides 3 types of benefits:People over 62Survivor benefitsDisability payments

Full payments available at age 65 (soon to be 67)

8-22

Reni RosariFE UGM

Pension Plans

About ½ of full time workers have some pension planPlans classified as:

Contributory vs. noncontributoryQualified vs. nonqualifiedDefined contribution vs. defined benefit

8-23

Reni RosariFE UGM

Pension Plans

Defined benefit pension plan - contains a formula for determining retirement benefitsDefined contribution pension plan - a plan in which the employer’s contribution to employee’s retirement or savings funds is specified

Definit

ions

Definit

ions

8-24

Reni RosariFE UGM

401k

Deduct specified pre-tax dollars from payEmployer may match some or allEmployer arranges account management Most managed onlineTaxes paid when funds are withdrawn

5

Reni RosariFE UGM

8-25

Reni RosariFE UGM

Other Defined Contribution Plans

Deferred profit-sharing plan - a plan in which a certain amount of profits is credited to each employee’s account, payable at retirement, termination, or deathEmployee stock ownership plan (ESOP) - a qualified, tax-deductible stock bonus plan in which employers contribute stock to a trust for eventual use by employees

Definit

ion

Definit

ion8-26

Reni RosariFE UGM

Pension Planning

When developing plans must consider:

Membership requirementsBenefit formulaPlan fundingVesting

ERISA – guarantees non-forfeitable rights

Established the Pension Benefits Guarantee Corporation - PBGC

8-27

Reni RosariFE UGM

Pension Trends

Early retirement windows Portability – pension may be rolled overCash balance pension plans – earn interest

8-28

Reni RosariFE UGM

Employee Services

Personal services include:Credit unionsCounseling servicesEmployee assistance programs (EAP)Other services:

Vacation facilities, cultural subsidies, and lunch and learn programs

8-29

Reni RosariFE UGM

How To Launch EAPs

Specify goals and philosophyDevelop a policy statementEnsure professional staffingMaintain confidential record-keeping systemsTrain supervisorsBe aware of legal issues EAP

8-30

Reni RosariFE UGM

Job Services

Subsidized child care with either an in-house facility or cost defrayedElder careOther benefits

TransportationFood servicesEducation subsidies

6

Reni RosariFE UGM

8-31

Reni RosariFE UGM

Elder Care

Programs can be simple:A lunchtime programInformation seminarsAARP’s Care Management Guide

64

3322

20

1613

Took days off

Cut hours

Took leave

Changed job status

Quit

Retired early

8-32

Reni RosariFE UGM

Family friendly benefits Ninety percent of employees said these programs were very important

Family friendly firms are on “best to work for” lists

Are these types of programs are useful? Do they improve productivity?

8-33

Reni RosariFE UGM

Research Insight

Society for Human Resource Management found that 58% offer flextime, 31% compressed workweeks, and 24% allow child to be brought to work in an emergency

8-34

Reni RosariFE UGM

Executive Perquisites

Perks range from use of the executive washroom to use of the corporate jetSome conventional perk$ include:

Management loansSalary guaranteesFinancial counselingGreat relocation benefitsUse of anything a corporation owns

8-35

Reni RosariFE UGM

Flexible BenefitsPrograms

Cafeteria approach Total cost is limitedCertain benefits must be present

Can be structured as a flexible spending account or core plus option plan

8-36

Reni RosariFE UGM

Pros and Cons to Flexible Benefits

Often desired by employeesCheaper Employees can make bad choicesAdministrative costs can be highComputerization helps

7

Reni RosariFE UGM

8-37

Reni RosariFE UGM

Computers and Benefits Administration

Employees interactively update their accountsFind medical information Find answer to routine questionsBig and small companies use online systems

8-38

Reni RosariFE UGM

Employee Leasing

Employee leasing firms handle all arrangementsGroup insurance rates are loweredDownside includes liability issues and loyalty