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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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How to strike a balance between managing staff wellbeing and financial pressures

Employee Benefits

Pay strategies such as targeted pay increases, performance-related bonuses and earned wage access can help. Yet there are concerns this could have a negative impact on their mental health , adding to the stress they are already under. Some employees are also taking second jobs, which can create issues from a mental health perspective.

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A HR guide to employee benefits

Employee Benefits

Fringe benefits are the additional benefits offered to an employee which supplement their stated salary for the service they offer. This can include free health insurance or a company car. Physical and mental wellbeing support Research has shown that 91% of Gen Z think companies should have mental health benefits.

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7 strategies for a successful total rewards program

Insperity

It doesn’t just entail traditional salary structures, but additional elements that contribute to employee well-being, job satisfaction, and personal growth and development. Offering unique programs that go beyond traditional salary plus benefits reinforces an organization’s commitment to their employees’ happiness and well-being.

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How professional employer organization (PEO) pricing works

Insperity

of an employees’ salary, according to the U.S. The best PEO for you will: Give you an end-to-end solution with flexibility Provide desirable employee benefits (health and welfare, retirement, etc) Support you with administrative services that: Fit your budget Are well worth the cost. Small Business Administration.

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Payroll Practices in Colombia

Global People Strategist

The Labour Code in Colombia includes a thorough overview of employment conditions, employment contracts, salaries, contributions to social security, holiday and vacation legislation and proper payment for overtime hours. Legal bonuses must be paid out in June and December, totaling the employee monthly salary.

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Benchmarking and Surveys Gauge if Employee Benefits are on Target

Corporate Synergies

What kind of health and welfare benefits attract and retain employees? With unemployment at a 50-year low, health and welfare benefits have become a big differentiator for employers, which means they need to be competitive to attract and retain employees. Salary ranges. As Seen In. Employee premium cost.