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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. Image courtesy – Shutterstock ) Employees leave for many reasons, and while some include personal conditions like health and relocation of the family, there are many that pertain to the organization.

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Employee Benefits Providers: What Employers Need to Know

Empuls

They offer a range of benefits, including health insurance, retirement plans, wellness programs, dental and vision coverage, and more specialized services like mental health support and child care assistance. They help identify the most suitable benefits, such as health insurance, retirement plans, and wellness programs.

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How to Recruit Top Talent without Treating It Like a Chore

HR Digest

Competitive salaries are a no-brainer when it comes to establishing a strategy on how to recruit top talent. But for companies that do not have the current funds to support competitive salaries, there can be many other ways to support their employees. Something is clearly amiss here when the priorities do not match up to capabilities.

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The Ultimate Guide to Total Compensation Statements: Maximizing Employee Understanding and Satisfaction

COMPackage

In the modern workplace, employees are increasingly aware of the value of their compensation beyond just their base salary. These comprehensive documents outline all aspects of an employee’s compensation, including salary, benefits, bonuses, and other perks. This includes: Base Salary : The fixed annual salary or hourly wage.

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How to Calculate Employee Benefits: The Ultimate Handbook

Empuls

Employers need to pay contributions to the central or state government employee welfare schemes, insurance, retirement funds, etc. The EPF requires employers and employees each to deposit 12 percent of their basic salary per month every year to the employee’s EPF account. percent for the employees.

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12 Cool Benefits For Employees To Boost Engagement

Empuls

Understanding cool benefits for employees The term "cool benefits for employees" encompasses unique perks and incentives that elevate the workplace experience beyond traditional salary and health insurance packages. Mental health resources: Mental health support is critical in today's fast-paced work environment.

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How Can Employers Help Employees With the Cost of Living Crisis?

Empuls

Studies in the UK established that only a small portion of companies were paying a short-term solution, such as a hike in wages or salaries or a one-time bonus that helps employees battle inflation in the economy. In addition to these retirement perks, employees also receive a substantial $1,000 in health savings account funding.