Part 4: COMPENSATION AND TOTAL REWARDS

Chapter 11
EMPLOYEE BENEFITS
Learning Objectives
When you finish studying this chapter, you should be able to:

✔ Define employee benefits.

✔ List and discuss the main pay for time not worked and
insurance benefits.
✔ Describe the main retirement benefits.
✔ List and discuss the popular personal services and family-
friendly benefits.
✔ Explain how to use benefits to improve engagement,
productivity, and performance.
Learning Contents
01 Benefits and Services: The Benefits Picture Today

02 Pay For Time Not Worked and Insurance Benefits

03 Retirement and Other Benefits

04 Personal Services and Family-Friendly Benefits

1- Benefits and Services
2- Pay for Time Not Worked and Insurance Benefits

Vietnam Labour Code 2019

▪ Leave Benefits
➢ Annual leave
➢ Public holidays
➢ Sick leave
➢ Maternity benefits
➢ Tet holidays
➢ Death/Wedding of the employee’s sibling/parent/grandparent
➢ Unpaid leave
▪ Insurance
➢ Social insurance
➢ Health insurance
➢ Unemployment insurance
2- Pay for Time Not Worked and Insurance Benefits

▪ Parental Leaves: the time parents and caregivers take off work to care for
children or a new baby.
▪ Severance pay: a one-time separation payment when terminating an
employee.
▪ Supplemental unemployment benefits: are cash payments that
supplement the employee’s unemployment compensation, to help the
person maintain his or her standard of living while out of work.
▪ Workers’ compensation: provides income and medical benefits to work-
related accident victims or their dependents regardless of fault.
▪ Hospitalization, Health, and Disability Insurance: life insurance, health
care and welfare benefits, mental health benefits
2- Pay for Time Not Worked and Insurance Benefits

▪ Benefits for Part-Time and Contingent Workers: holiday, sick leave, and
vacation benefits to part-timers, and about 30% offer some form of health
care benefits
▪ Retirement and Other Benefits: pension plans, employee stock
ownership plan (ESOP), early retirement window
▪ Personal Services and Family-Friendly Benefits: subsidized child care,
sick child benefits, ...
▪ Work–life balance: flextime, compressed workweek, workplace flexibility,
job sharing, work sharing...
 Carter Cleaning Company: The Incentive Plan
Read The case study ‘Carter Cleaning company’ in your Textbook, pg. 395).

Questions:
1. Should this plan be extended to pressers in the other stores?
2. Should other employees (cleaner/spotters, counter people) be put
on a similar plan? Why or why not? If so, how, exactly?
3. Is there another incentive plan you think would work better for the
pressers? Describe it.

CASE STUDY
ANALYSIS
To Our Next Week

Employee and labor relations

Read
Chapter 12 – Maintaining Positive Employee Relations
Chapter 14 – Improving Occupational Safety, Health, and
Risk Management