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Fringe Benefits: A Guide to Understanding and Leveraging Employee Perks

HR Digest

According to a 2023 SHRM survey, 68% of employees prefer jobs with top-tier benefits over higher pay. 401(k) matching), stock options, or performance bonuses. Work-Life Balance Perks Paid time off, flexible schedules, remote work options, and parental leave fall here. The concept isnt new. Compliance is non-negotiable.

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Financial and Lifestyle Concerns of Retirees

Money Talk

traditional RIRAs and 401(k)s). Having just tax-deferred accounts that postpone taxes to the future can be an expensive “tax bomb” that explodes in later life. Present Bias- A common error of younger retirees is thinking that their life will always look the way it does today (i.e., their health and ability to do things).

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10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

You want your employee benefits package to include at least some of these popular fringe benefits : Health insurance. Life insurance. Disability insurance. ." Long story short, fringe benefits are taxable employee benefits and must be included in the recipient's pay. Tuition assistance. Paid Time Off (PTO).

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Designing a Remarkable Employee Perks Program that Fuels Success

Vantage Circle

As a gesture of gratitude towards their diligent workforce, employers can offer various retirement plans such as 401(k) or pension-based schemes. Life Insurance: According to Forbes Advisor , life insurance was deemed the top benefit by 45% of employees and 43% of employers.

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Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

Other types of insurance If an employee loses their ability to earn an income on a temporary or permanent basis, certain types of insurance can help protect their families and livelihoods. Disability insurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.

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Leveraging employee financial wellness programs in your benefits strategy

Higginbotham

According to a 2023 survey from the Lending Club, 60 percent of Americans are living paycheck to paycheck. A 401(k) plan is a popular example of a defined contribution plan. Federal student loan payments are resuming in October 2023 after a multiyear pause due to the COVID-19 pandemic. The average balance is $37,718.

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How to Design an Employee Benefits Program Effectively

Empuls

Employee benefits statistics to support why they are so important in 2023 Employee benefits are important for several reasons: They can help companies attract and retain top talent. They are designed to help employees manage their health and well-being, and typically include health insurance, disability insurance, and wellness programs.