Describe what you believe to be some of the more important employee benefits offered by an employer?
Employee benefits such as:
- Deferred income
- Loss-of-job income continuation
- Disability income continuation
- Health & accident protection
Various methods for costing benefits
- Annual Cost - This method provides total annual cost figures for each benefit. Cost per employee per year-Simple bookkeeping procedures permit the development of annual costs per employee of particular benefits.
- Percentage Payroll - Computing the percentage of payroll costs requires a determination of just what the organization includes as payroll costs for work performed.
- Cents per Hour - The cents per hour figure also varies among organizations because of the different ways to identify & define the time hour.