MGMT 2430 Study Guide - Final Guide: Canada Pension Plan, Employee Benefits, Life Insurance
30 Apr 2018
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Chapter 13: Employee Benefits and Services
Questions:
1. What is the strategic role of employee benefits?
• Employee benefits – all the indirect financial payments an employee
receives during their employment
• Time off with pay, supplementary health and life insurance, employee
assistance plan
• Becoming part of total compensation
• Useful in attracting talent
• Important for aging workforce
2. Describe the various government-mandated benefits?
• EI
• Pay on termination of employment
• Leave of absence
• Canada pension plan
• Worker’s copesatio
• Vacations and holidays
• Paid breaks
3. What are voluntary employer-sponsored benefits. Describe the common
benefits listed in the text (up to p. 311).
• Life insurance
• Supplementary healthcare/medical insurance
• Short term disability and sick leave
• Long term disability
• Sabbaticals
• Retirement benefits
4. What can be done do help reduce the high cost of health benefits.
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