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Indirect Compensation
5
Indirect
Compensation
5.) Work/Life Benefits and Services
4.) Security and Retirement Plans
With the reality of low wages,
cutbacks in health insurance
and the threat of being laid
off are the very things that make families' lives so stressed.
People hours just to maintain their standards of living.
Five
categories
of employee
benefits:
For many years, the pension,
401(k) accounts, and health-care benefits provided by their former employers are the core of their retirement security-- both
financial and emotional.
Indirect compensation
plans, or benefits, are
financial rewards and
services provided to
employees in addition to their regular earnings.
2.) Pay for Time
Not Worked
Most organizations
today grant their
employees pay for
time not worked
under certain
conditions.
1.) Benefits by Law.
Federal and state
require employees to provide benefits under these government
programs.
3.) Insurance Plans
Among the popular
company-sponsored
insurance plans are group life insurance, health-care
insurance (medical and
hospital), vision-care
insurance,
and dental insurance.