HR Digest

DECEMBER 2, 2023

A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. Compensation and Benefits Appropriate compensation for the work done is a key component of many employee retention strategies. Here, other forms of monetary compensation are useful as well.

Employee Retention 96

Employee Retention Salary Health and Welfare 401(k) 96

InterWest Insurance Services

MAY 21, 2024

Department of Labor has issued a final rule increasing the federal salary threshold for overtime exemptions by 65%, with the full increase starting in 2025. A salaried bona fide executive, administrative or professional employee must earn that amount or more if an employer wants to exempt them from federal overtime requirements.

Overtime 72

Overtime Salary Payroll System Benefits Package 72

Employee Benefits

OCTOBER 6, 2023

The majority (85%) of organisations plan to enhance their benefits packages for employees, according to research by HR and employee benefits consulting services firm Gallagher. The post 85% of employers plan to further enhance their benefits packages appeared first on Employee Benefits.

Benefits Package 59

Benefits Package Employment Voluntary Benefits Consulting 59

Employee Benefits

SEPTEMBER 27, 2023

The organisation has also increased fertility support to provide paid time off for appointments, while contributions towards paid maternity leave include an additional six weeks of pay at 50% of salary on top of the existing first six weeks at 90%, and the remainder at statutory pay.

Benefits Package 59

Benefits Package Employee Benefits Bonuses Salary 59

Empuls

MAY 8, 2023

In this article, we will explore what personalized benefits are all about, and how to use them right. What are personalized employee benefits? On the flip side, personalized benefit packages fully rely on the inputs, painpoints and needs of your potential workers or existing employees.

Benefits Package 52

Benefits Package Employee Benefits 401(k) Retirement Plan 52

Achievers

APRIL 23, 2015

A competitive salary is the bare minimum that you need to provide to keep employees satisfied. Beyond compensation, your employee retention strategies should factor in the total rewards package you offer, the quality of your leadership, and the power of your social recognition strategies.

Employee Retention 184

Employee Retention Paid Vacation Employee Recognition Health Insurance 184

Achievers

NOVEMBER 29, 2024

Competitive compensation and Benefits: Regularly reviewing salaries, providing comprehensive benefits packages , and offering perks such as health insurance, retirement plans, and stock options demonstrate the company’s commitment to employee well-being and financial security.

Bonuses 218

Bonuses Retirement Plan Health Insurance Benefits Package 218

Employee Benefits

FEBRUARY 15, 2022

Average salary has soared by almost £1,500 in the last year, official data has revealed. This shortage of workers is pushing salaries up,” he said. A good benefits package or strong environmental, social and governance (ESG) policies can make a difference,” he said. This is up 6.3%

Salary 64

Salary Benefits Package Banking Government 64

Employee Benefits

MARCH 31, 2023

A well implemented employee benefits package helps to support your employees with many of their needs. There are some costs that come with implementing employee benefits but when it comes to the advantages your business and your employees gain, it’s more than worth it.

Benefits Package 52

Benefits Package Employee Benefits Benefit Providers Salary 52

Achievers

JUNE 6, 2022

Depending on the type of benefits your organization offers, it may be worthwhile to cast them in the framework of total compensation. For example, say a team member with an annual salary of $50,000 has a benefits package worth around $15,000. Their total compensation would then be valued at $65,000.

Employee Benefits 245

Employee Benefits Family and Medical Leave Act 401(k) Retirement Plan 245

Employee Benefits

JULY 26, 2023

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%).

Benefits Package 98

Benefits Package Employment Salary Benefit Providers 98

Employee Benefits

MAY 13, 2024

Employers should communicate with employees to understand what they need from a flexible benefits package. Benefits that are offered as part of a flex scheme need to add value. As employees’ needs can change throughout the year, more frequent benefits enrolment windows can provide greater flexibility and choice.

Benefits Package 116

Benefits Package Taxes Insurance Medical 116

Employee Benefits

APRIL 23, 2024

Credit: ricochet64 / Shutterstock.com Tyre manufacturing organisation Michelin is to guarantee a living wage for its more than 100,000 global employees, as well as enhancing parental and healthcare benefits.

Healthcare Benefits 111

Healthcare Benefits Healthcare Transportation Manufacturing 111

COMPackage

NOVEMBER 4, 2024

Employees increasingly seek transparency and value beyond just base salary. This article explores the benefits of TCRs, highlights key considerations for creating an effective template, and showcases a sample report for your reference. Customization Counts: Consider the specific needs of different employee segments. healthcare, PTO).

Salary 40

Salary Retirement Plan PTO Health Insurance 40

Employee Benefits

MARCH 5, 2024

Currys offers a total remuneration and benefits package that includes bonuses, 10% discount, pensions, flexible benefits, share plans, and health and wellbeing benefits. The post Currys increases salary for 10,000 staff and boosts minimum pay rates appeared first on Employee Benefits.

Salary 59

Salary Take Home Pay Retail Bonuses 59

WEX Inc.

JULY 30, 2024

But employees remain top of mind for employers, with 55% of businesses saying they will not reduce salaries if there is a recession, and 47% saying they will not reduce benefits. That’s because benefits are critical for attracting and retaining talent. The impact cutting a benefits budget would have Why do you come into work?

Taxes 98

Taxes Education Benefits Package Salary 98

HR Digest

AUGUST 3, 2023

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.

Paid Leave 98

Paid Leave Salary Benefits Package Human Resources 98

Bayzat

JULY 2, 2024

In the dynamic business landscape of the United Arab Emirates (UAE), one critical aspect of attracting and retaining top talent is having a well-defined and competitive salary structure. A thoughtfully crafted salary structure ensures fairness and transparency, playing a pivotal role in a business’s overall success and growth.

Salary 52

Salary Bonuses Transportation Taxes 52

Employee Benefits

SEPTEMBER 10, 2023

Some of Tusker’s customers have shared their experiences on the impact of the car benefit scheme on their organisation’s benefits packages. The organisation has embraced the salary sacrifice scheme and coupled it with an EV grant to make the scheme even more affordable.

Benefits Package 98

Benefits Package Salary Pension Insurance 98

Employee Benefits

JANUARY 16, 2023

Professional services firm Moore Kingston Smith looks to balance salary, recognition and benefits equally as part of its holistic approach to its people and their reward. We know from regular listening that our people value the wider benefits we offer as much as they do our competitive pay and benefits package.”.

IT 105

IT Salary Health Benefits Package 105

Employee Benefits

MAY 1, 2024

Its survey of 500 HR professionals also found that 34% of respondents have seen increased interest in their overall benefits packages , while 40% said potential employees are more interested in higher salaries.

Recruitment 114

Recruitment Benefits Package Salary Employment 114

Wellable

NOVEMBER 1, 2021

Companies often provide employee benefits (compensation given to employees in addition to their wages or salaries) to increase talent attraction, retention, engagement, and overall job satisfaction. Despite their importance, contemporary benefits packages appear to be falling short.

Employment 95

Employment Benefits Package Salary Employee Benefits 95

Employee Benefits

JANUARY 30, 2023

As organisations look to build a package that positions them as an employer of choice in a competitive recruitment masrker, as well as supporting employees in key areas of their lives, it can be easy to end up with a bulging benefits package. Benefits that help employees’ salaries go further have also become a priority.

Employment 111

Employment Benefits Package Education Salary 111

Employee Benefits

OCTOBER 25, 2023

Employees react better to communications that they consider relevant to their personal circumstances, so employers should used targeted guidance and support about benefits available. A good benefits package is the most important thing that 42% of employees look for in employment, according to June 2023 research by benefits provider Zest.

Voluntary Benefits 111

Voluntary Benefits Benefits Package Benefit Providers Electronics 111

Employee Benefits

APRIL 11, 2024

Credit: ML Robinson / Shutterstock.com Newcastle Building Society has rolled out a flexible benefits platform for its more than 1,000 employees in order to boost engagement with its benefits package. It also wanted to provide visibility of all benefits to its workforce and encourage them to review these on a regular basis.

Pension 104

Pension Benefits Package Benefit Providers Salary 104

Employee Benefits

FEBRUARY 15, 2023

“People make a real choice now about what kind of [business] they want to work for, and when that’s added that to the cost-of-living issues, they’re looking for great pay , and the wider benefits package is becoming more and more important.”

Net Pay 105

Net Pay Benefits Package Bonuses Salary 105

Employee Benefits

MARCH 7, 2022

Back-up care and nursery provider Bright Horizons UK has announced that it will invest more than £10 million in its early years practitioners’ salaries and benefits next month in order to recognise differences in the cost of living across the UK. This means all employees will be on or above the NMW, which is set to go up to £9.50

Benefits Package 105

Benefits Package Salary Education Employee Benefits 105

PeopleKeep

MAY 17, 2021

When it comes to recruiting and retaining employees, your benefits package is a top deciding factor for job prospects when they’re looking for a new employer. Research for the 2021 Robert Half Salary Guides reveals that a retirement savings plan is in the top five most common benefits offered by employers in the U.S.,

Benefits Package 85

Benefits Package Salary Recruitment Employment 85

HR Digest

MAY 6, 2023

Competitive Salary and Benefits: Salary and benefits packages are crucial in attracting top talent. HR professionals must ensure that their salary and benefits packages are competitive and meet the market standards. Here are some practical tips for attracting top talent: 1.

Recruitment 105

Recruitment Benefits Package Media Salary 105

Best Money Moves

AUGUST 6, 2024

To help employees craft a more financially resilient future, consider offering an emergency fund as part of your employee benefits package. Having a high debt-to-income ratio can limit the options an employee has amid a sudden emergency, even for employees earning six-figure salaries.

Retirement Plan 106

Retirement Plan Benefits Package Medical Banking 106

Best Money Moves

NOVEMBER 3, 2021

Here are 4 of the top employee benefits trends to keep in mind for 2022. Having a benefits package that is the same for every employee often leads to workers not fully understanding what they’ve enrolled in. Employers are trying to combat this in 2022 by shifting to personalized benefits. Additional personalization.

Work From Home 112

Work From Home Benefits Package Finance Healthcare Benefits 112

Workplace Insight

JANUARY 16, 2024

Lone Rangers (14 percent) are focused on salary and location. They are motivated by high salaries and the opportunity to work remotely. Salary-driven Weekend Workers (13 percent) are motivated by the salary range on offer and show a willingness to work long hours including weekends to achieve a high salary.

Employment 113

Employment Salary Transportation Manufacturing 113

Best Money Moves

SEPTEMBER 15, 2021

The Society for Human Resource Management (SHRM) estimates that the average replacement cost of a salaried employee is six to nine months’ salary. When it comes to actually implementing financial wellness benefits for your employees, programs like Best Money Moves can help. So, how can you increase employee retention?

Finance 105

Finance Employee Retention Salary Benefits Package 105

HR Digest

MAY 29, 2023

As an employer one needs to understand what fringe benefits are. Fringe benefits are the additional compensation that companies offer to an employee, over and above the salary for doing a particular work. The importance of fringe benefits can be explained, simply put as a great motivators. Keep employees motivated.

Family and Medical Leave Act 98

Family and Medical Leave Act Paid Vacation Health Insurance Benefits Package 98

InterWest Insurance Services

SEPTEMBER 23, 2024

These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. The benefits are free from federal and state income taxes, employees’ taxable income is reduced and that means that employers don’t have to pay FICA on those dollars.

Flexible Spending Account 72

Flexible Spending Account Benefits Package Deductible Deductions 72

Bayzat

APRIL 5, 2024

Factors Contributing to the UAE’s Talent Shortage Despite its thriving economy, below are factors contributing to the scarcity of UAE talent in the workforce: Unexpected Salary Expectations The 2022 Hays GCC Salary Guide shows that 21% of employers in the UAE struggle with candidates’ unrealistic salary demands.

Salary 52

Salary Benefits Package Recruitment Utilities 52

Business Management Daily

AUGUST 12, 2024

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

Salary Retirement Plan Employee Stock Option Parental Leave 105