MGT 462 Chapter Notes - Chapter 12: Deferred Compensation, Employee Benefits, Unemployment Benefits

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13 Nov 2020
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Employee benefits - parts of the total compensation package, other than pay for time worked, provided to employees in whole or in part by employer payments. Involve deferred payments to a former employee for past services rendered. Specify a normal retirement age, was which time benefits being to accrue to the employee. Wage and price controls - government regulations that aim at maintaining low inflation and low levels of unemployment. They frequently focus on cost-push inflation, limiting the size of pay raises an the rate of increases in prices charged for goods and services. Catalyst for growth in pensions, health-care coverage, time off, and the broad spectrum of benefits. Unions fought for the introduction of new benefits and the improvement of existing benefits. Can be traced to pragmatic concerns about employee satisfaction and productivity. Many group-based benefits can be obtained at a lower rate than could be obtained by employees acting on their own.

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