Presentation on theme: "Employee Benefits Companies must consider many personnel costs. These costs include employee benefits, such as health insurance and vacation days. What."— Presentation transcript:
Employee Benefits Companies must consider many personnel costs. These costs include employee benefits, such as health insurance and vacation days. What are other employee benefits?
Lesson Objective Compute the new salary after merit increase and cost-of-living adjustment. Content Vocabulary salary scale A table of wages or salaries that compares various jobs in a company, used to estimate the costs of giving an employee a cost-of-living adjustment or a merit increase. cost-of-living adjustment merit increase cost-of-living adjustment A raise in an employees salary to help keep up with inflation. merit increase A raise in salary to reward an employee for the quality of work.
Elaine Taylor is a systems analyst (salary level 2 position) for EPD Inc. The executive board of EPD voted to give all employees a cost-of-living adjustment of 2.8 percent. In addition, Taylor was awarded a merit increase of 3.5 percent. What will Taylors salary be for the coming year? Example 1
Find the present salary from Figure 13.1 below. Example 1 Answer: Step 1