Question

This week's 'HRM by the Numbers' focuses on the cost of union and non-union benefits. Use the table below to provide the correct answer for each question. Not all of the data in the table will be used. See the point value for each question. They must be answered correctly. No partial credit. They must also be rounded to the nearest hundredth which is 2 decimal points (i.e. 23.45, 53.00, 6.10) to be considered correct.

Union Costs - .5 points each

• The hourly compenstation costs of paid leave: $_____________
• The hourly compensation costs of legally required benefits" $___________

Nonunion Costs - .5 points each

• The hourly compenstation costs of paid leave: $_____________
• The hourly compensation costs of legally required benefits $___________

Comparison (Percent Cost Difference Between Union and Nonunion Benefits ​= ((Union Benefits Cost​ - Nonunion Benefits​ Cost) / Nonunion Benefits​ Cost) × ​100%

• 1 point - The percentage cost difference between union and nonunion benefits for wages and salaries______%
• 2 points - The percentage cost difference between union and nonunion benefits for paid leave and legally required benefits _____%

Table:

Compensation Component	Union	Nonunion
	Costs	Costs
Wages and salaries	22.89	17.82
Paid leave
Vacation	1.40	0.90
Holiday	0.82	0.52
Sick	0.42	0.21
Personal	0.14	0.10
Insurance
Life	0.06	0.03
Health	4.78	1.72
​Short-term disability	0.14	0.04
​Long-term disability	0.10	0.03
Retirement and savings
Defined benefit	2.47	0.27
Defined contribution	1.02	0.54
Legally required benefits
Social Security	1.50	1.18
Medicare	0.38	0.30
Federal unemployment insurance	0.02	0.02
State unemployment insurance	0.18	0.14
​Workers' compensation	0.82	0.32

Answer 1

solution:

Union prices

The hourly compenstation value of paid leave= add of all paid leave compenstation components= vacation + vacation + sick + personal
The hourly compenstation of paid leave=1.4 + 0.82+ 0.42 +0.14= $ 2.78

The hourly compenstation value of legelly needed profits= add of all de jure needed benefit compenstation components=Social security + health care + Federal state insurance + state state insurance+ worker's compenstation
The hourly compenstation value of legelly needed benefits= one.5 + 0.38 + 0.02 + 0.18 + 0.82= 2.9

Non union prices

The hourly compenstation value of paid leave= add of all paid leave compenstation components= vacation + vacation + sick + personal
The hourly compenstation value of paid leave=0.9 + 0.52 +0.21 +0.1= 1.73

The hourly compenstation value of legelly needed profits= add of all de jure needed benefit compenstation components=Social security + health care + Federal state insurance + state state insurance+ worker's compenstation
The hourly compenstation value of legelly needed benefits= one.18 + 0.3 + 0.02 +0.14 + 0.32= 1.96

1. the share of value distinction between union and Non union bebefits for earnings and wages=( (Union profit prices of wages and earnings- Non union profit prices of earnings and wages)/ Non union profit prices of salary and wages) * a hundred

Union profit prices of wages and salary= twenty two.89

Non union profit prices of earnings and wages= seventeen.82

Apply in equation

((22.89- 17.82) / 17.82) * 100= (5.07 / 17.82 ) * 100= zero.285 * 100= twenty eight.5%

The percentage of value distinction between union and Non union bebefits for earnings and wages= twenty eight.5%

2. the share of value distinction between union and Non union bebefits for paid leave and de jure needed profits=( (Union profit prices of paid leave and de jure needed profits- Non union benefit prices of paid leave and de jure needed benefits)/ Non union benefit prices of paid leave and de jure needed benefits) * a hundred

Union profit prices of paid leave and de jure needed benefits= union value of paid leave + Union value for de jure needed benefits= a pair of.78 + 2.9= 5.68

Non Union profit prices of paid leave and de jure needed benefits=non union value of paid leave +Non Union value for de jure needed benefits=1.73 + 1.96 = 3.69

Apply in equation

((5.68- 3.69 ) / 3.69) * 100= (1.99 / 3.69) * 100= zero.5393 * 100= fifty three.93%

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