hrmpresentation-240318182949-fe67cf38.pdf

hrm ppt

1. 1

2. MALAIKA ASTEFAN
BSM-F21-M25
INTRODUCTION

3. EMPLOYEE
BENEFITS
Membership based, non-
financial rewards
offered to attract and keep
employees.
3

4. COSTS OF PROVIDING EMPLOYEE
BENEFITS
DOMESTIC PARTNER BENEFITS:
Benefits offered to an employee’s live
in pather.

It refers to the expenses incured by the
company to benefit its employee.
CONTEMPORARY EBENFITS
OFFERING:
The number and types of benefits
offered have increased dramatically, as
have their costs.
Benefits offered to employees reflect
many trends in our labor force.
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5. 5

6. LEGALLY REQUIRED
BENEFITS
SHAYAAN ALI
BSM-F21-M03

7. LEGALLY REQUIRED BENEFITS
Employee benefits mandated by law.

Four Important Programs;
Social Secuirty
Unemployement Compensation
Workers Compensation
Family and medical leave Act
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8. SOCIAL
SECURITY
Employee insurance that provides some
income continuation in the event an
employee is laid off.
Retirement, disability and survivor
benefits paid by the government to the
aged, former members of the labor force,
the disabled or their survivors.
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UNEMPLOYEMENT
COMPENSATION
WORKER’S COMPENSATION
Employee insurance that provides income
continuation if a worker is injured on the
job.
FAMILY AND MEDICAL LEAVE
ACT
FMLA provides employees with 12 weeks
unpaid leave for each consecutive 12 month
period for which eligibility criteria been met
following events;
Birth or Placement of a son or daughter for
adoption or faster care.

9. 9
VOLUNTARY
BENEFITS
SYEDA ZILL-E-HUMA
BSM-F21-M45
FIZA ZAINAB
BSM-F21-A108

10. Health insurance is a contract between a
company and a consumer. The company
agrees to pay all or some of insured
person’s health care costs in return for
payment for a monthly premium.
VOLUNTARY BENEFITS
Voluntary benefits are services or
goods that an employer offers at
10
discounted group rate but are paid for by an employee
through a payroll deduction.
HEALTH INSURANCE BENEFITS
•Cover ambulatory patient
service
•Offers funding for
hospitalization
•Cover surgery costs
•Cover against mental illness
etc.

11. TRADITIONAL HEALTH INSURANCE
11
It offers coverage for health services provided by any health-care
provider. It usually include three categories of coverage;
oHospitalization
oMedical/ Surgeries
oMajor Medical

PREFERRED PROVIDER ORGANIZATION
(PPO)
It is defined as an organization that requires using specific
physicians and health-care facilities to contain the rising-costs
of health-care.
Employees are encouraged to use a network of preferred doctors
and hospitals.

12. HEALTH MAINTENANCE
ORGANIZATION
12
A type of insurance plan that strive to provide quality
health-care at a lower cost of their members.
STAFF MODEL
HMO:

In this type, the HMO
directly employs
doctors who provide
care to members at
HMO owned facilities.

GROUP MODEL
HMO:

The HMO contracts
with a group of doctors
who have their own
private practices.
NETWORK
MODEL HMO:

This type has contracts
with multiple health-
care providers
including doctors,
hospitals and
specialists.

13. POINT OF SERVICE
A point of service (POS) plain is a managed care health
insurance plan that provides different benefits for using
in network or out of network providers.
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PROS;
•Affordable
•Out of pocket
limits
•Flexibility
CONS;
•Cost
•Confusing
•Paper work
CONSUMER DRIVEN HEALTH
PLAN
It is a quality care health plan where portions of your
employees' health care services are paid for directly with
pre tax dollars.

14. EMPLOYEE OPERATED COVERAGE
It refers to health insurance obtained through an
employer . It includes not only insurances for
current employees and their families but also
include retired employees.
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COMPONENTS;
•A high deductible
health plan (HDHP)
• Pre tax health fund
BENEFITS;
•Saving a premium
cost
•Reducing medical
care cost
•Increase employee
morale

15. HEALTH INSURANCE PROTABILITY
AND ACCOUNTABILITY ACT 1996
(HIPAA)
15
It’s a federal law. The primary goal of this law is to make
it easier for people to keep health insurance, protect
the confidentiality and secuirty of health-care
information and help the health-care industry control
administrative costs.

16. RETIREMENT
BENEFITS
16
AREESH MANSOOR
BSM-F21-M36
MAHAM ASHRAF
BSM-F21-M29

17. 17
RETIREMENT
Retirement refers to when someone
decides to quit or complete his/her
desired period of work for a
company.

18. RETIREMENT BENEFITS
18
Retirement benefits are the money or other incentives that a
person collects after their employment end. Retirement
plans are highly regulated by ERSIA of 1947.
•Vesting Rights
•Summary planned description (SPD)
•Pension benefit Guaranty Corporation (PBGC)
BENEFITS PLANS
Retirement program that pays retiring employees a fixed
retirement income based on average earnings over a period
of time.

19. 19
CONTRIBUTION PLAN
It is a common work place retirement
plan in which an employee contributes
a portion of compensation and the
employer typically makes a matching
contribution.

20. TYPES OF CONTRIBUTION PLAN
20
INDIVIDUAL
RETIREMENT
ACCOUNT
It is a long term savings
account that individuals
with earned income can
use to save for the
future while enjoying
certain tax advantages.
MONEY PURCHASE
PENSION PLAN
It is an employee
retirement benefit plan
that resembles a
corporate profit
sharing program.
PROFIT SHARING
PLAN
It is a retirement
benefit plan that
gives employee a
share in the profit of
a company.
401 (k) s
It is a feature of a
qualified profit
sharing plan that
allows employee to
contribute a portion of
their wages to
individual account.

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PAID TIME
OFF
SABA
BSM-F21-A106

22. PAID TIME OFF
22
Some organizations lump all paid
time off into a single bank of
time called paid time off (PTB).
It includes;
VACATION LEAVE
The rationale behind paid
vacations is to provide a break
in which employees can
refresh themselves. After
specified period of time, they
usually become eligible for a
paid vacation.

HOLIDAY LEAVE
Holiday pay is paid time off to
observe some special event—
federally mandated holidays,
company provided holidays or
personal days.

23. 23
Sick leave is allocated at a specific number of days a
year.58 In some organizations, the number of sick days
allowed employees may be expanded relative to years
of service with the organization.
This plan provides a percentage of the employee’s income if the employee
must be absent from work due to an illness or injury and has already used all
or a predetermined number of sick leave days. These plans usually provide
coverage up to six months.
Long-term disability programs provide replacement income for
an employee who cannot return to work and whose short-term
coverage has expired. Long-term disability usually becomes
effective after six months.
DISABILITY INSURANCE PROGRAMS
Disability insurance programs income replacement for a defined period of time, when an eligible
employee is unable to work due to a disability. Programs to address this area broken down into three
broad categories;

 SICK LEAVE
SHORT-TERM
DISABILITY
PLANS
 LONG-TERM
DISABILITY PLANS

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SURVIVOR
BENEFITS
SHARJEEL SHAFIQ
BSM-F21-M23

25. SURVIVOR BENEFITS
Usually two types;
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CONTRIBUTER

In which the employee is
paying the portion.
NON-CONTRIBUTER

In which the employee doesn’t
pay anything.

26. GROUP TERM LIFE
INSURANCE
Group term life insurance is a form of term life that
provides insurance to employees or members of an
organization securing employees as well as their
future family members.
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TRAVEL INSURANCE
The company is paying the portion, through travelling, if there is
an illness, or if there is a casualty, or if there is a lifetime loss, then
company is paying you through insurance company.

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EMPLOYEE SERVICES
AND FAMILY –FRIENDLY BENEFITS
The service side of
benefit
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assistance
program
Social and
Recreational
events
Housing
Company
pay
transportation
Uniforms
Parking
Tuition
Credit
unions

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AN INTEGRATIVE
PERSPECTIVE ON
EMPLOYEE BENEFITS
MARIA ASHRAF
BSM-F21-M30

29. INTEGRATIVE
PERSPECTIVE
29
It’s about considering how different benefits like
health insurance, retirement plans, paid time off, and
more all work together to create a well-rounded
package that attracts and motivates employees.
FLEXIBLE SPENDING ACCOUNTS (FSA)
FSA is a tax-advantaged account offered by your employer
that allows you to pay for medical expenses or dependent
care.

30. TYPES OF FLEXIBLE SPENDING ACCOUNT
DEPENDENT CARE FSA
It is used to pay for
qualified medical expenses
for dependents. It is
defined as childern under
age 13 and adults who are
physically or mentally
unable to take care of
themselves.
HEALTH-CARE FSA
It is a standard FSA
that can be used to
help cover medical,
dental and vision
expenses.
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31. MODULAR PLANS
It is more flexible plan. It is a combination of services that
are required to be given to the employees as per laws and
the additional benefits that an employer intends to provide
to it’s employees.
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CORE-PLUS OPTION
BENEFITS
Core plus option benefit typically refers to a benefits package offered
by employers, where employees have a core set of benefits that anyone
receives, and they can also choose from additional options or add-ons
to customize their benefits to better suit their individual needs.

32. BENEFITS IN A
GLOBAL
ENVIRONMENT
32
AYESHA
BSM-F21-A133

33. GLOBAL ENVIRONMENT
Global environment refers to the
interrelationships and transactions among
cultures, people and organization world wide.
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BENEFITS;

Benefits package offered in other countries are often
tailored specifically to the countries unique culture and
competition for their best employees.

34. SOME POPULAR CATEGORIES OF
EMPLOYEES BENEFIT
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PENSION PLAN HEALTH-CARE
Many companies offer leave benefit
that allows employees to take time
off from work for various reason.
It is an employee benefit plan established or
maintain by an employer or by an employee
organization or both that provide retirement
income or defers income until termination of
covered employment.
These benefits are set of services an employer
provides to help employees maintain wellness and
treat any health issues. Usually these benefits come
with salary package or employment contract.
LEAVES

35. SUMMARY
BUSHRA ARSHAD
BSM-F21-M24
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36. EMPLOYEE BENEFITS SUMMARY
36
LEGALLY REQUIRED
BENEFITS
RETIREMENT BENEFITS
VOLUNTARY BENEFITS PAID TIME OFF
SURVIVOR BENEFITS
Employee Services and
Family-Friendly Benefits
EMPLOYEE BENEFITS
An Integrative Perspective on Employee Benefits Benefits in Global Environment
Legally Required
Benefit
Voluntary Benefits
Retirement
Benefits
Paid Time Off
Survivor Benefits
Employee Services
and Family-Friendly
Benefits
An Integrative
Perspective on
Employee Benefit
Benefits in a Global
Environment
Health Insurance
•Traditional Health
Insurance
•Preferred Provider
Organization
•Health Maintenance
Organization
•Point of Service
•Consumer Driven
Health Plan
•Employee Operated
Coverage
•Health Insurance
Portability and
Accountability Act
1996
•Social Security
•Worker’s Compensation
•Unemployment
Compensation
•Family and Medical
Leave Act
Benefit plan
Contribution Plan
•Money Purchase
Pension Plan
•Profit-Sharing Plan
•Individual Retirement
• 401 (k)s
Vacation and Holiday
Leave
Disability Insurance
Programs
•Sick Leave
•Short-Term Plan
•Long-Term Plan
•Group Term Life
Insurance
•Travel Insurance
•Service Side
Benefit
•Social and
Recreational
Events
•Housing
•Tuition
Reimbursement
•Company paid
Transportation
•Parking
•Credit Unions
•Uniform
•Flexible Spending Account
•Modular Plans
•Core-Plus Options Plans
•Leaves
•Health Care
•Pension Plan

37. “Your work is going to fill a large part of your life,
and the only way to be truly satisfied is to do what
you believe is great work. And the only way to do
great work is to love what you do. If you haven't
found it yet, keep looking. Don't settle. As with all
matters of the heart, you'll know when you find
it.” — Steve Jobs
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38. THANKS!
38
Any
Question?