(BQ) Part 2 book "Strategic compensation - A human resource management approach" has contents: Discretionary benefits, legally required benefits, compensating executives, compensating the flexible workforce, compensating expatriates, pay and benefits outside the united states,and other contents. | Pa rt IV Employee Benefits Where We Are Now: Part III, Designing Compensation Systems, explained the concepts and methods to build compensation systems that meet important goals of compensation professionals, including internal In Part IV, we will cover 9 Discretionary Benefits Chapter 10 mployer-Sponsored Retirement E Chapter Plans and Health Insurance consistency, market competitiveness, and recognition Programs of employee contributions. Our focus was on base pay. We do know (Chapter 1) that employee Chapter 11 Legally Required Benefits benefits represent an important component of total compensation. Now we turn to the myriad employee benefits, including discretionary benefits from which employers may choose to offer, among them retirement and health insurance programs and legally required benefits. We also give attention to designing and planning the benefits program. 221 24/11/14 6:59 AM 9 Discretionary Benefits MyManagementLab® Improve Your Grade! When you see this icon, visit for activities that are a pplied, personalized, and offer immediate feedback. Learning Objectives When you finish studying this chapter, you should be able to: 1. Give an overview of discretionary benefits. 2. List the three broad components of discretionary benefits. 3. Identify and define one example of income protection programs, paid time off, and services. 4. Explain the benefits and costs of discretionary benefits. T oday, discretionary benefits represent a significant fiscal cost to companies. As of March 2012, companies spent an average exceeding $13,000 per employee annually to provide discretionary For the same period, discretionary benefits accounted for as much as percent of employers’ total payroll costs (., the sum of core compensation and all employee benefits costs). As the term implies, “discretionary benefits” are offered at
