UNA NANAMAN TAYO (PART 2)

Is to attract, motivate and to maintain employees

Incentives & Profit Sharing (Pay for Performance) and Compensation Management (Wages and Salaries)

Security, Safety and health (Legally mandated benefits); Benefits and Services (“Fringe” benefits)

Are called indirect compensation and are also known as “fringe benefits” and “Perks”

Are something in addition to the payment like car fuel and free parking, clothing, and educational supports.

Means something extra (such as vacation time) that is given by an employer to workers in addition to their regular pay

In general, indirect and non-cash (or sometimes in cash) compensation paid by an employer to employees in addition to their regular pay. Benefits tends to be necessities for many people.

Some benefits are mandated by law (such as SSS, Pag-IBIG, and PhilHealth), others vary from firm to firm or industry to industry.

Twelve (12) paid national regular holidays and Six (6) national special holidays per year as provided under?

The plan is 100% funded by the company calculated at 22.5 days base salary per year of service based on the employee’s latest basic rate upon normal retirement at age 60, death, or total and permanent disability.

Early retirement eligibility is age 50 and __________ of service. Retirement benefit notice is three (3) months.

How to calculate minimum retirement pay?

This depends on the healthcare provider that the company holds. The plan provides a comprehensive health care coverage for employees. The annual premium for Principal/Employees is 100% shouldered by the company that can be availed at any Medicard-accredited network.

Twelve (12) days for the first anniversary of regularization and additional 1 day on the 2nd anniversary. Maximum total sick leave is fifteen (15) days.

One Hundred Five (105) days of paid maternity leave

All married male employees are eligible for 7 working days up to four (4) child birth including miscarriage of legitimate spouse to be availed within sixty (60) days from delivery/miscarriage.

Three (3) days applicable to immediate family member which includes the employee’s children, parents, grandparents, brother, sister, spouse, and parents-in-law.

Seven (7) working days

Two (2) days leave for employees who were affected by fortuitous events (must be supported by a Government proclamation or may be declared by the Company)

Sixty (60) calendar days leave. This is given to all female employees who underwent surgery caused by gynecological disorders and who have rendered at least six (6) months continuous aggregate employment service for the last twelve (12) months prior to surgery.

Ten (10) days leave benefit shall cover the days that the woman employee has to attend to medical and legal concerns. The usage of the ten-day leave shall be at the option of the woman employee. In the event that the leave benefit is not availed of, it shall not be convertible into cash and shall not be cumulative.

50% of Life, maximum of Php 3.5M.

60% of Life, maximum of Php 1M

10% of Life, max of 100k.

The Company grants a 13th month pay equivalent to one (1) month’s pay to all eligible employees provided that they worked for at least one (1) month during a calendar year.

The company grants bonus equivalent to a maximum of half month base pay to all probationary and regular employees.

The Company provides rice subsidy to all regular and probationary employees and credited to their payroll account every 30th of the month

The Company provides its employees with a meal allowance to partially cover daily meals expenses. An employee must have rendered the minimum number of hours per shift to get a full meal credit.

Given to regular and probationary employees every April.

Provides reimbursement of duly approved educational expenses upon satisfactory completion of the course provided that the degree or course taken is relevant to the employee’s present or prospective job assignment. Maximum reimbursement per term is P 10,000.

Benefit afforded to employees who are suffering from certain medical or surgical conditions warranting a recuperation period of additional 60 days maximum after the 120 SSS Sickness Benefit.

Employees are recognized for their loyal and dedicated service to the company for every five years of continuous service by the way of gift check or token, plus plaque of appreciation during the service award ceremony.

Can include anything an employer deems necessary to provide as a perk for employees. No real limit exists as to what can be included as an employee service.

These programs are arranged to meet an organization's goals while assisting employees with their personal lives.

Many employers offer wellness programs to improve employees' health. These programs can be applied in a variety of ways, including reimbursable gym membership costs, on-site fitness facilities, and events to promote healthy living and eating.

Working parents having access to a work-site child care center positively affects their ability to successfully concentrate on the job and be productive

Most individuals clip coupons and shop for sales to save money. Some employers work with local and national retail product and service providers to offer employees discounts for their personal needs.