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Employees who feel their benefits are suited to their situation are more likely to stick with their company. As technology improves, personalized benefits will be able to cater to a persons exact struggles and new opportunities are considered every year. These benefits trends will continue going into 2025.
It’s important to note that there are limits to how much an employee can contribute to a 401(k) plan each year. For 2023, the limit is $20,500 for individuals under age 50 and $27,000 for individuals age 50 and over. This allows the money in the account to grow faster than it would in a taxable account.
The research also revealed that up to 77% of workers with access to employer-sponsored benefits, chose to participate in the program, increasing the take-up rate. However, 71% of those working professionals under 40 do not know what happens to their benefits once they change jobs or leave before retirement. How did they fare?
These programs, focusing on engagement and accessibility, provide a powerful incentive for employees, demonstrating that their organization cares about their financial well-being and quality of life. How to Offer : Two companies, Corporate Offers and Vantage Circle , offer competitive and efficient discount programs to their employees.
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