COMPENSATION MANAGEMENT
HRM3705
Study unit 9
Employee Benefits
Prepared by Magda Bezuidenhout,
, Learning outcomes of study unit 9
Once you have completed study unit 9, you should be able to:
• Define discretionary employee benefits and discuss the role in plays in strategic
compensation
p
• Discuss the purpose of employee benefits within the reward system
• Discuss the various types of employee benefits and their different roles
• Discuss flexible benefits as an alternative pay system
• Discuss the implications of discretionary benefits for strategic compensation
• Identify and discuss the different components of discretionary benefits
• Contrast between defined benefit plans and defined contribution plans
• Discuss the advantages and disadvantages of flexible benefit programs in terms of
employee satisfaction and cost containment
• Identifyy and discuss legally
g y required
q benefits
• Discuss some of the implications for strategic compensation and possible approaches
to managing legally required benefits
• Understand the key y role of communications in increasingg the p
perceived value of
benefits
• Discuss the considerations when designing and planning discretionary benefits
programmes
Prepared by Magda Bezuidenhout,
HRM3705
Study unit 9
Employee Benefits
Prepared by Magda Bezuidenhout,
, Learning outcomes of study unit 9
Once you have completed study unit 9, you should be able to:
• Define discretionary employee benefits and discuss the role in plays in strategic
compensation
p
• Discuss the purpose of employee benefits within the reward system
• Discuss the various types of employee benefits and their different roles
• Discuss flexible benefits as an alternative pay system
• Discuss the implications of discretionary benefits for strategic compensation
• Identify and discuss the different components of discretionary benefits
• Contrast between defined benefit plans and defined contribution plans
• Discuss the advantages and disadvantages of flexible benefit programs in terms of
employee satisfaction and cost containment
• Identifyy and discuss legally
g y required
q benefits
• Discuss some of the implications for strategic compensation and possible approaches
to managing legally required benefits
• Understand the key y role of communications in increasingg the p
perceived value of
benefits
• Discuss the considerations when designing and planning discretionary benefits
programmes
Prepared by Magda Bezuidenhout,
