Employee Benefits

OCTOBER 6, 2023

The majority (85%) of organisations plan to enhance their benefits packages for employees, according to research by HR and employee benefits consulting services firm Gallagher. Voluntary benefits such as bikes-for-work schemes have increased to 75% from 73% in 2022, while gym memberships rose to 45% from 34%.

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HR Digest

DECEMBER 2, 2023

In 2022, the U.S. A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. Compensation and Benefits Appropriate compensation for the work done is a key component of many employee retention strategies. Bureau of Labor Statistics reported that 50.6

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Employee Benefits

FEBRUARY 15, 2022

Average salary has soared by almost £1,500 in the last year, official data has revealed. Figures published by the Office for National Statistics (ONS) today included an estimate that median monthly pay across the UK was £2,050 in January 2022. This shortage of workers is pushing salaries up,” he said. This is up 6.3%

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Employee Benefits

FEBRUARY 15, 2023

“People make a real choice now about what kind of [business] they want to work for, and when that’s added that to the cost-of-living issues, they’re looking for great pay , and the wider benefits package is becoming more and more important.” This included bonuses in January 2023 which were weighted towards the lower paid.

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Net Pay Benefits Package Bonuses Salary 105

Employee Benefits

JANUARY 16, 2023

Professional services firm Moore Kingston Smith looks to balance salary, recognition and benefits equally as part of its holistic approach to its people and their reward. We know from regular listening that our people value the wider benefits we offer as much as they do our competitive pay and benefits package.”.

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Employee Benefits

FEBRUARY 8, 2022

DF Capital has launched an electric vehicle salary sacrifice scheme for its 95 employees. Payments are made directly from gross salaries, creating savings on income tax and national insurance. “We are very excited about being able to help make electric dreams come true for our colleagues at DF Capital,” he said.

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Employee Benefits

JANUARY 30, 2023

As organisations look to build a package that positions them as an employer of choice in a competitive recruitment masrker, as well as supporting employees in key areas of their lives, it can be easy to end up with a bulging benefits package. Benefits that help employees’ salaries go further have also become a priority.

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HR Digest

JANUARY 14, 2023

This cuts across various areas of management, including benefits and perks, flexibility, workplace culture, and so on. In 2022, we saw the increase in the usage of VR headsets and virtual reality platforms across several industries. They’ll need to find time to discuss salary slashes, an increased workload, and so much more.

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Best Money Moves

APRIL 20, 2022

million Americans quit their jobs in February of 2022, according to the U.S. It costs six to nine months of an employee’s salary to hire and acclimate their replacement, according to data from SHRM. To help avoid the high costs of turnover, employers should be prepared to reevaluate their benefits packages.

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Bayzat

APRIL 5, 2024

Factors Contributing to the UAE’s Talent Shortage Despite its thriving economy, below are factors contributing to the scarcity of UAE talent in the workforce: Unexpected Salary Expectations The 2022 Hays GCC Salary Guide shows that 21% of employers in the UAE struggle with candidates’ unrealistic salary demands.

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Employee Benefits

MARCH 21, 2023

The last few years have caused many to reflect on how we spend our time, leading to employers having to re-evaluate their employee benefits package. David McCormack, CEO , HIVE360 , explains it’s important to first understand what benefits and support employees value the most.

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Business Management Daily

APRIL 25, 2023

Development opportunities, competitive compensation, and attractive benefits packages are also perks the best talent actively looks for. According to a poll from Skynova , 7 in 10 respondents felt that salary is the most important aspect of a job posting, followed by information about the benefits package.

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Salary Benefits Package Recruitment PTO 105

Employee Benefits

APRIL 28, 2023

The target is 12% of a full-time living wage worker’s salary, of which the employer pays in at least 7%, and can also be implemented as a cash amount of £2,550 a year, with the employer contributing at least £1,488.

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Abel HR

JANUARY 25, 2022

Pre-Covid, childcare facilities struggled to find and retain staff, due in large part to the low salaries and often far-from-glamorous work! ” Interestingly, only one-quarter of those surveyed indicated that salary factored into who stayed home with the kids.

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Employee Benefits

MARCH 9, 2023

With ⅓ of UK workers considering a career change at the start of 2022, the ‘great resignation’ has shaken up businesses – and its effects are still rippling throughout many industries. It’s estimated that losing an employee can cost a company 1.5 – 2 times the employee’s salary.

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Employee Benefits

NOVEMBER 21, 2022

Factoring reward package reviews into formal milestones, such as six-month reviews or probation periods, can improve engagement and employees’ awareness of what is on offer. “It’s important for employers to ensure that reward packages are as accessible as possible.”. Staying on trend with current issues.

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Employee Benefits

FEBRUARY 27, 2024

Since March 2022, we’ve invested more than £146 million in our retail pay offer and increased our standard hourly rate by more than 26%. But creating a great place to work isn’t just about pay; it’s about the overall package and [employees] feeling valued and able to be their best.

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Employee Benefits

MAY 20, 2024

Employee benefits provider Vivup and group protection and investment provider Canada Life UK have been shortlisted in the Best supplier to work for category at the Employee Benefits Awards 2024. It is only open to internal HR teams of employee benefits providers, suppliers, advisers and consultants.

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Employee Benefits

FEBRUARY 6, 2022

Organisations are having to fight harder to recruit and retain, offering higher salaries and/or more competitive benefits packages. Employees are generally in a good position right now. They are placing more demands on employers, with the expectation that these demands will be met.

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Employee Benefits

FEBRUARY 21, 2023

The supermarket said it will continue to offer Sunday premiums for employees who joined before 24 July 2022, but will change the rate from 25% to 17% in order to maintain the value of Sunday working for those who are eligible. This agreement recognises the incredible work and dedication our teams show every day in serving our customers.”

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Employee Benefits

FEBRUARY 9, 2022

In April 2021, law firm TLT launched an electric vehicle (EV) scheme as part of its employee benefits package via a salary sacrifice arrangement. The cost is reclaimed from the employee’s salary via a salary sacrifice arrangement.

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Insperity

APRIL 14, 2022

Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover (JOLT) report from March 2022 , there are more than 11 million job openings in the U.S., Some employees are leaving jobs to: Obtain improved titles, higher salaries and better benefits. According to the U.S. but only just over 6 million candidates looking for work.

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cipHR

MAY 4, 2022

Being able to save money on purchases via an employee discounts scheme (30%), having a flexible working location (27%), and receiving a market-value salary (26%) complete the employees’ top 10. When it comes to employee benefits, every individual’s requirements and priorities differ, of course. Market-value salary (26%).

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Hppy

DECEMBER 15, 2021

If so, it is recommended that you present potential applicants with an incredible employee benefits package. In fact, this is the only way for single parents to hold down a job with a decent salary. The post The Most Desirable Employee Benefits in 2022 appeared first on Hppy.

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Higginbotham

JANUARY 27, 2023

According to the KFF 2022 Employer Health Benefits Survey, 51 percent of all firms offer health benefits. It might even matter more than salary. Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy.

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Employee Benefits

JANUARY 10, 2024

Through membership, staff can access a gym, health club, leisure or sports centre, or exercise classes as part of a voluntary or flexible benefits package. and GymFlex, via salary deduction. What types of schemes are available? There are a variety of corporate gym membership schemes on offer. Are there any tax or legal issues?

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WEX Inc.

MAY 10, 2023

But employees remain top of mind for employers, with 55% of businesses saying they will not reduce salaries if there is a recession, and 47% saying they will not reduce benefits. That’s because benefits are critical for attracting and retaining talent. The impact cutting a benefits budget would have Why do you come into work?

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Vantage Circle

MAY 18, 2023

Employees now want more than just salaries from their employers. They want a competitive benefits package to motivate them and improve their satisfaction. This innovative approach goes beyond the standard compensation package. It fosters a people-first work culture and enables an organization to attract top talents.

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Higginbotham

NOVEMBER 2, 2023

Developing an Employee Financial Wellness Program Employees typically look for competitive compensation, but a good salary alone isn’t necessarily enough to ease financial difficulties. In 2022, only 42 percent of the higher earners lived paycheck to paycheck, suggesting that American households are increasingly worse off financially.

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Higginbotham

MARCH 28, 2023

per hour in September 2022. of this came in the form of salary or hourly wages; the other $12.98 was benefits. In other words, benefits account for nearly one-third of a worker’s total compensation. KFF says 73 percent of firms with 25 to 49 workers offered health insurance in 2022. Only $28.88 This includes $275.6

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cipHR

JUNE 16, 2022

A further 12% (16% of men and 10% of women) have asked their employer to expand their employee benefits package, by, for example, adding a health cashback plan or an employee discounts scheme. CIPHR conducted an online survey of 1,006 employed UK adults between 18-21 May 2022. The full results are available at [link].

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cipHR

APRIL 22, 2022

The 2022 cost of living crisis in the UK has seen a record number of households face the biggest decline in income since the 1970s. While raising salaries in line with – or above – inflation is one solution, there are many other ways that organisations can provide their people with support to improve their financial wellbeing.

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HR Digest

FEBRUARY 10, 2023

Each employee benefit has its own cost, but they can all vary depending on your company’s size and budget. Paid Time Off: Another unique employee benefit is the paid time off policy offered by some companies. Here, employees are allowed to take some time off from the office while still receiving some salary.

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Employee Benefits

MAY 3, 2023

Health and wellbeing at work are just as important as salary for more than 80% of UK employees*, but what are the essential components of a wellbeing programme that employees truly want and need? David McCormack, CEO of HIVE360 , investigates.

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CorpStrat

FEBRUARY 1, 2023

While most employers project an increase in salaries in 2023, many will look beyond pay alone to help attract and retain current and prospective employees. A survey from the employee wellness platform, Gympass, revealed that nearly half of employees (48%) say their well-being declined in 2022.

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WEX Inc.

SEPTEMBER 5, 2023

Keep reading this blog post to learn four reasons why offering benefits is challenging for small business owners and what they can do to overcome these challenges. Budget The challenge: Offering the best benefits package is going to require a certain amount of budget. employees left their jobs in 2022 than 2021.

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PeopleStrategy

NOVEMBER 14, 2022

This means that organizations in the state must disclose salaries in job postings. employers feel as if they have to supply salary information even though it isn’t legally mandated. Benefits packages, perks and wellness programs will become more comprehensive, encompassing mental, physical and financial wellbeing.

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