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How is the cost-of-living crisis affecting what employees want from their benefits packages?

Employee Benefits

The people we know are feeling the pinch are younger age groups and lower paid people, those people embarking on building careers, who don’t always have the most robust benefits anyway. A cash plan is the perfect benefit, because it’s very affordable for the [employer], a fraction of the salary bill.”

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Michelin guarantees global living wage and enhances parental and healthcare benefits

Employee Benefits

As part of its deployment of a living wage worldwide, to guarantee employees a salary equivalent to at least the living wage, Michelin received the global living wage employer certification from the Fair Wage Network.

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The New Normal for Employee Raises: What to Expect in 2024

HR Digest

According to a salary budget survey conducted by Payscale, more than three-fourths of U.S. companies were planning to increase salaries the same as or more than the previous year. The survey also revealed that 22% of companies intended to cut the amount dedicated to salary increases in 2024, a significant jump from the previous year.

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3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers

And in many cases, it’s benefits offerings that seal the deal. For 41 percent of small business employees, benefits are crucial when accepting a new job, second to salary. And for 75 percent, a good benefits package would make them take one job over another,” says a recent employee health benefits survey by QuickBooks Payroll.

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Employee value proposition in action: Compelling real-world examples

Business Management Daily

Top talent with more specialized skills and training will expect more from their employers, such as higher salaries, more perks, and flexibility around remote work. If you offer excellent benefits and an incredible culture, employees will be less motivated to seek out opportunities elsewhere or seriously consider offers from competitors.

Salary 105
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Tesco raises hourly pay to above £11

Employee Benefits

. “We know that many have felt the pressure of rising costs this year, and we are absolutely committed to supporting them with competitive base pay and exclusive employee benefits. This agreement recognises the incredible work and dedication our teams show every day in serving our customers.”

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Why employee wellness matters – and how it’s good for business

Insperity

Availability of healthy food and opportunities to exercise, such as taking walks. Opportunity to advance one’s career, gaining in title, status and salary. Emphasize wellness in benefits offerings Most standard benefits packages include things like health insurance, a 401(k) retirement plan and PTO.