Employee Benefits and Services

Employee Benefits
& Perks
Your people are the crucial
system underpinning your
organization’s ability to grow
and thrive.
So how crucial are employee

benefits to achieving your
company’s goals and objectives?
They are extremely important.
• Employee benefits are compensations given
to employees in addition to regular salaries
or wages, i.e. an indirect reward given to an
employee or group of employees as a part
of organizational membership.
• These compensations are given at the entire

or partial expense of the employer.
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These employee benefit
packages may include overtime,
medical insurance, vacation,
profit sharing and retirement
benefits, to name just a few.
Offering benefits to your employees is
important because it shows them you are
invested in not only their overall health,
but their future.
A solid employee benefits package can

help to attract and retain talent. Benefits
can help you differentiate your business
from competitors.
Employee benefits can improve your
company’s bottom line by engaging
employees to participate in wellbeing
programs.
Healthier employees mean reduced

healthcare costs for your organization.
Employees with fewer health risks
experience fewer sick days, fewer trips
to the doctor, and spend more time
working in your organization, bringing
their best selves to work every day.
• While some employee benefits are
required by law, many employers offer
additional benefits in order to attract and
retain quality workers and maintain
morale.
• Some types of benefits are also used as

incentives to encourage increased worker
productivity.

• Two Types of Benefits:
• A- Legally (Mandated)
• Employee Benefits
• B- Voluntary (Non-Mandated)
• Employee Benefits.

Employer Demographics
and Preferences
If an organization hires many younger
people, it may investigate opportunities
for child care.
If it hires many middle-aged and older

employees, the communication of
medical care for retirees may be a
sensitive issue.
Employer Ability to Pay and
Employee Contributions:
With the ever-increasing cost of non
mandated benefits and the potential of
significantly higher costs of mandated
benefits, employers recognize that they
have to limit these costs.
One option is to shift as much of the cost
as possible to the employee (by requiring
the employee to contribute to the pension
plan for example or by offering the
required types of benefit only he suit
each employee
(Cafeteria Plan as a Benefit)
Monitoring and Auditing
Employers must monitor every part of the benefits
program.
- Is it operating as designed?
- Is it accomplishing its intended goals?
- Are any areas or parts of the program being abused?
Feedback in these and other areas assists those

responsible for planning and design to make necessary
changes using “Employee satisfaction survey”
• A- Legally (Mandated) Employee
Benefits

• National Social Insurance:
To help meet employees' retirement needs, to
compensate workers in the event that their job
is eliminated.
• Provides an income for employees who
become disabled because of a job-related
injury.

• B- Voluntary (Non-Mandated)
Employee Benefits.

1: Pensions/Retirement Plan:
A savings and investment plan that
provides income during retirement.
A defined benefit plan (One Big fund) and

a defined contribution plan (Personal
Employee Fund) are both types of
retirement plans.

2: Health and Accident Insurance
A- Medical Insurance:
•Physical exams
•Eye exams
•radiology,
•Drugs
•Surgery
•Emergency
•Maternity services
B- Dental Care
Extraction or replacement of natural teeth,
crowns, cleaning treatments.
C- Dependent Care:
(Child or elder care for families)
1.On-site childcare facility
2.Childcare allowances
3.Day-care information
4.Flexible Scheduling (Flextime, Part time)
3: Income Replacement Programs
A- Disability Insurance
Amount of money paid by company in the
disability circumstances
B- Life Insurance
•Group term life insurance (All Employees)
•Accidental death (per specific jobs)

3: Income Replacement Programs
C- Severance Pay
•Financial amounts for each year of service
when employees leave the company.

4: Employee Services:
•Emergency Loans
•Cafeteria
•Company Car
•Discounted Product
•Free Parking
•Gifts

5: Pay for Time not worked:
a.Paid Holidays
b.Paid Vacations
c.Paid Personal Leave
d.Sabbatical Leave ( Society Service)
e.Paid Funeral Leave

6: Recognition Programs:
a.Sales award
b.Suggestions or creative ideas award
c.Employee of the year/month award
d.Safety awards
e.Attendance award

It should be noted that the various
types of benefits offered to
employees can depend greatly on the
size and type of the business as well
as its geographic location.

Employee benefits may be the major
deciding factor for many people
when choosing a company for
employment.

Finally, in order to attract and retain
the best-quality for employees,
companies must be willing to offer
flexible and extensive types of
benefits to meet various employee
needs.


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Employee Benefits

So how crucial are employee

• These compensations are given at the entire

© 2022 American University

A solid employee benefits package can

Healthier employees mean reduced

• Some types of benefits are also used as

© 2022 American University

© 2022 American University

If it hires many middle-aged and older

- Is it accomplishing its intended goals?

- Are any areas or parts of the program being abused?

Feedback in these and other areas assists those

© 2022 American University

© 2022 American University

© 2022 American University

A defined benefit plan (One Big fund) and

© 2022 American University

© 2022 American University

© 2022 American University

© 2022 American University

© 2022 American University

© 2022 American University

© 2022 American University

© 2022 American University

© 2022 American University

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