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As we approach the 2024 United States presidential election, Chris Byrd, senior vice president, health executive and, more broadly, head of Government Affairs at WEX, joined our Benefits Buzz podcast for an insightful conversation on how election years can influence employee benefits. Current election cycle: What’s on the table?
The software automates tasks related to contracts, payroll, and tax compliance, ensuring that organizations stay on top of their legal obligations. The software automates benefits enrollment, simplifying the often complex task of ensuring compliance with healthcare and other regulatory requirements.
Pazcare is an innovative healthcare company that provides a comprehensive suite of digital healthcare solutions. The platform is designed to help medical professionals and patients manage healthcare needs more efficiently, utilizing technology to improve the overall healthcare experience.
Employers can choose from a range of pre-taxbenefits, including health insurance, dental insurance, vision insurance, and other types of benefits. In addition to its benefits offerings, PeopleKeep also provides a range of educational resources to help businesses understand the complexities of healthcarebenefits.
If you’re a small business owner, the qualified small employer health reimbursement arrangement (QSEHRA) might be the benefits plan you’re looking for. Offering a QSEHRA lets you deliver healthcare savings for your employees, which could pay off as a retention and recruitment tool as you grow your business. What is a QSEHRA?
Here are some key reasons why investing in staff benefits is important: Increased retention : A competitive benefits program can significantly reduce employee turnover, saving your organization time and resources in recruitment and training. Improved productivity : Happy and healthy employees are more focused and motivated.
As an employer, you want your benefits package to be a one-stop-shop for your employees. Not only will a comprehensivebenefits package keep your current employees happy, but it will help you attract new talent. We’re here to let you in on a secret to help you kick your benefits up a notch. But first, the basics.
With greater emphasis on work-life balance, increased competition for talent, and growth in dispersed workforces, BRI has diversified its offerings to include more robust personalized benefits and pre-taxbenefits such as FSAs and HSAs. said BenefitsPRO Editor-in-Chief Paul Wilson.
Managing a comprehensivebenefits program can be a challenging task for any HR department. According to a recent survey , 74% of HR leaders are actively planning to consolidate employee benefits in the coming year. Here are some of the top perks of consolidating benefits solutions. It is not legal or tax advice.
Explore more in depth below: 5 big benefits of joining a PEO 1. Access to comprehensivebenefit plans Partnering with a PEO means that your employees can gain access to comprehensivebenefit plans that are comparable to those found at large companies.
Job security and benefits Non-monetary incentives such as job security and comprehensivebenefits packages are key motivators. Additionally, their generous benefits packages, including healthcare and wellness programs, contribute to keeping employees motivated and loyal.
While traditionally associated with healthcare expenses, HSAs can play a pivotal role in retirement planning for your employees. Let’s look at how HSAs and retirement intersect, and why integrating HSAs into your benefits strategy can be a game-changer for both your employees and your organization. Here’s how: 1.
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) are two of the most effective instruments for optimizing health savings and financial flexibility for both employers and employees among the different components of a comprehensivebenefits strategy.
From the rising costs of healthcare and benefits packages to retaining and recruiting to helping employees understand their benefits to the ever-changing regulatory landscape, HR teams face many challenges that present obstacles to organizational success. It is not legal or tax advice.
“Financial stress often results in lower productivity, increased absenteeism and employee turnover, and higher healthcare costs,” said David Aronson, Peanut Butter CEO. In 2019, more than 76% of employees cited student debt as the leading cause of their financial worries. About PeopleStrategy, Inc.
A primary goal of the PEO relationship is to provide your employees with access to cost-effective, comprehensivebenefits without the administrative and regulatory burdens that can be so overwhelming and costly. CPEOs are solely responsible for payment of federal employment taxes on wages they pay to worksite employees.
aren’t covered by a primary healthcare plan and can still present a problem. Don’t forget, you can offer these programs on a pre-tax basis. We think Voluntary Benefits are a win-win for you and your employees and should be a part of any comprehensiveBenefits Package. Cancer Expense & Critical Illness.
PeopleStrategy understands the need for today’s employers to go beyond traditional medical benefits to remain competitive in the war for talent.” PeopleStrategy understands the need for today’s employers to go beyond traditional medical benefits to remain competitive in the war for talent.” About PeopleStrategy, Inc.
Let’s talk about the different types of fringe benefits and how employers can make the most of them. Taxable vs. Non-taxable Benefits are always tax-deductible, aren’t they? Employees can be taxed on some high-value benefits when they are considered part of the employee’s compensation package.
With the rising household debt, many employees are turning to their employers for long-term financial wellness support and comprehensivebenefits programs. When employers support their workforce with good financial wellness benefits, such as wealth creation plans, retirement benefits, healthcare coverage, travel expense coverage, etc.,
Providing a comprehensivebenefits package is essential for keeping employees happy, healthy, and motivated. From healthcare and retirement plans to flexible work arrangements and professional development opportunities, employees are looking for a comprehensivebenefits package that meets their unique needs and preferences.
This can help organizations identify areas for improvement and make data-driven decisions about their benefits offerings. Improved Employee Retention: A robust employee benefits platform can improve employee retention by offering comprehensivebenefits packages. Clock in and out and view hours worked.
Most preferred employee benefits and perks In today's competitive job market, a competitive salary is no longer enough to attract and retain top talent. This means offering a comprehensivebenefits package that goes beyond just health insurance and paid time off.
A robust employee benefits program has emerged as a critical factor in this endeavor. Employees increasingly seek more than just a paycheck; they desire comprehensivebenefits that support their well-being, work-life balance, and personal development.
Once you’ve selected the optional benefits you want to offer, communicate with employees. Host an orientation for new benefits, including a Q&A session. Discuss these more comprehensivebenefits in employee onboarding. Make sure external audiences are aware of these competitive benefits as well.
Tax forms Job application Offer letter Performance reviews Disciplinary actions Time cards Resumes Medical records Pay stubs Signed employee handbook Benefits information PTO forms As you can see, every employee involves a ton of recordkeeping, which will quickly become incredibly cumbersome without a centralized software system to store it all.
Increasing Job Satisfaction: A comprehensivebenefits package contributes to higher job satisfaction among employees. According to a survey by Mercer, 77% of employees say that benefits play a significant role in their job satisfaction. This deferred money generally is not taxed until it is distributed. " - Sybil F.
Why Employee Benefits Matter Attracting and Retaining Top Talent In today's competitive job market, offering a comprehensivebenefits package is crucial for small businesses aiming to attract and retain top talent. found that 57% of employees consider benefits and perks among their top considerations before accepting a job.
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