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question 53

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Identify the types of pension plans and their benefits to different levels of employees within an organization.

Comprehend the significance of child and elder care benefits in supporting employees' work-life balance.

Recognize the impact of tuition reimbursement programs on employee development and organizational attractiveness.

Understand the legal aspects and compliance requirements of offering benefits such as retirement plans and health insurance.

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Definitions:

Flexible Benefit Plans

Employee benefit programs that allow workers to choose from a variety of pre-tax benefits, customized to their personal needs.

Skill-Based Pay

A compensation system where employees are paid based on the skills and qualifications they bring to their job, rather than just their job title or position.

Informal Rewards

Non-official recognition or rewards, often personal or social, given in the workplace or other settings.

Change Competency

An organization’s or individual's ability to effectively manage and adapt to change.