bzupages.com presented to: sir ahmed tisman pasha presented by: muzamil mehboob roll no: bs-it-5 th...

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Presented to:

Sir Ahmed Tisman Pasha

Presented by: Muzamil Mehboob Roll No: BS-IT-5TH-49

Department of Information Technology Institute of Computing

Bahauddin Zakariya University(Multan)

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Topic

Flexible benefits &

Developing a benefit Package

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Employee benefits In general, indirect and non-cash

compensation paid to an employee. Some benefits are mandated by law (such as social security, unemployment compensation, and workers compensation),

Vary from firm to firm or industry to industry (such as health insurance, life insurance, medical plan, paid vacation, pension, gratuity).

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Flexible benefits A benefit plane that allows each employee

to put together a benefit package individually tailored to his or her own needs and situations.

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Developing Benefit Package

Types of benefits plans Modular plans Core _ Plus Plans Flexible spending plans

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Modular plans Plans make employees choose among pre-

designed benefit packages.Each modular package is aimed at a specific demographic (e.g. singles, families, older or younger members) and provides services most attractive to that target group.

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Unlike traditional benefit plans, where all members of the bargaining unit are covered for all benefits regardless of health status, once the employee has made a flex plan choice, it usually cannot be changed without the employee having to undergo a medical review to obtain "evidence of insurability".

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Core _ Plus Plans

A common core-plus model would be very basic, providing some coverage for drugs and vision care, though not likely any dental care coverage.

Employees then would have to purchase additional or improved benefits through payroll deduction.

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For example, for an additional $70 per pay, the employee could increase the dollar amount for vision care coverage (e.g. from $100/2 years to $250/2 years) and buy some dental coverage.

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the reward system is a collection of brain structures which attempts to regulate and control behavior by inducing pleasurable effect

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The Reward Process Satisfaction with a reward is a function of both how much

is received and how much the individual feels should be received. (Equity theory)

An individual’s feelings of satisfaction are influenced by comparisons of what happens to others.

Satisfaction is influenced by how satisfied employees are with both intrinsic and extrinsic rewards.

People differ in the reward they desire and in the relative importance different rewards have for them

Some extrinsic rewards are satisfying because they lead to other rewards.

Rewards must be valued and must be related to a specific level of job performance

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The Reward Process

Motivation to exert effort

Performance:Individual

Experience

Ability & Skill

PerformanceEvaluation Satisfaction

ExtrinsicRewards

IntrinsicRewards

Feedback

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General Model of Organizational Reward Systems

Organization’s Reward Norms• Profit maximization• Equity• Equality• Need

Distribution Criteria• Results• Behavior• Other factors

Types of Rewards• Financial/material(extrinsic)• Social (extrinsic)• Psychic (intrinsic)

Desired Outcomes • Attract• Motivate• Develop• Satisfy• Retain

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How To Make Team-Based Pay Work Prepare employees with interpersonal skills

training. Don’t introduce team-pay until teams are

running smoothly. Blend individual and team incentives. Start by rewarding teamwork behaviors and

then evolve to incentives for team results. Make sure each team member has a clear line

of sight to key team results.

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Non-Traditional Rewards Cafeteria benefits Time off (banked) Skill-based pay

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Employee recognition programs`

Recommendation: The System Office should put in place methods to systematically recognize good work. These methods should become a normal part of our work lives.

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Objectives:

Recognize individual and group achievements Give good work visibility in creative ways Act as a mechanism for staff engagement Establish and foster cultural values of

improvement & growth Reaffirm cultural values of community &

cooperation, as we provide recognition to individual contribution and innovation

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Benefits of a System Office Employee Recognition Program Conveys to employees that they are valued

and appreciated Increases employee morale & job

satisfaction Improves employee retention &

performance Contributes to directly System’s Strategic

Plan and will support System Office mission & values

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ConclusionNeed to have a common understanding of organizational valuesOrganizational values need to be incorporated into employee recognition cultureEmployees value spontaneous, day to day recognition mostAn effective program can take a significant period of time to implementEmployee recognition will support System Office success

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Questions?

Thank You!

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