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Importance of Employee Benefit Package And Why it Matters

HR Digest

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. What do you want to achieve with the employee benefit package 2. Overtime pay 3.

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Why You Need a Total Compensation Report: Unveiling the Hidden Value for Employees – Includes a Free Sample

COMPackage

Informed Financial Decisions: Clear information on benefits empowers employees to make informed financial choices about budgeting, saving, and planning for retirement. They can better assess the overall financial landscape their compensation package provides.

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48% of employers have invested in benefits due to economic climate change

Employee Benefits

Nearly half (48%) of employers have boosted investment in their benefits package over the last 12 months in response to economic climate changes, according to research by benefits provider Zest. Salary (46%) was the next largest factor, followed by demands for better employee benefits packages (43%).

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Total Compensation Report: A Sample Guide for Effective Communication

COMPackage

Informed Financial Decisions: Clear information on benefits empowers employees to make informed financial choices about budgeting, saving, and planning for retirement. Improved Recruitment and Retention: Effective communication of total compensation can attract top talent and reduce employee turnover.

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How to contain employee benefits costs (and why most businesses struggle)

Insperity

Despite the high price tag, it’s critically important that employers provide quality benefits. An attractive benefits package is a valuable tool in recruiting top-tier talent. These days, many job candidates expect access to certain benefits. Partnering with a PEO can be an efficient solution.

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Benefits to support an older workforce

Employee Benefits

Employers could offer support through a midlife MOT, which provides a health and financial career check to help employees plan for retirement. Organisations can improve the recruitment, retention and development of older workers by signing up to the age-friendly employer pledge. Job and community site Workingwise.co.uk

Pension 111
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Do employers have a role to play in overcoming the UK childcare crisis?

Employee Benefits

The Early Education and Childcare Coalition and the University of Leeds’ November 2023 study Retention and return: delivering the expansion of early years entitlement in England revealed that 35% of nursery managers said they would limit the number of places they offered unless there was more government support to retain and recruit staff.