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

HR Lineup

FEBRUARY 1, 2024

Compensation goes beyond just the salary paid to employees and includes various elements designed to reward and recognize their contributions. HR professionals play a crucial role in benchmarking salaries against industry standards, ensuring internal equity, and addressing any pay disparities within the organization.

Bonuses 89

Bonuses Commissions Salary Overtime 89

Empuls

SEPTEMBER 26, 2024

This could be in the form of salary raises, performance-based bonuses, or commissions. Financial rewards serve as a clear motivator since they provide immediate, tangible benefits. Job security and benefits Non-monetary incentives such as job security and comprehensive benefits packages are key motivators.

Bonuses 52

Bonuses Health Insurance Benefits Package Salary 52

Vantage Circle

JULY 13, 2021

It includes the money paid to employees in wages, salaries, bonuses, perks, and other intangible benefits. Some non-monetary rewards include opportunities to learn and grow, extra time off, profit-sharing plans , wellness memberships, etc. Good benefits are critical to employee retention and performance.

IT 52

IT Bonuses Employee Retention Benefits Package 52

Bayzat

FEBRUARY 19, 2025

Many companies face challenges in offering competitive and comprehensive benefits that align with employee needs and market standards. Competitive Base Salary A competitive base salary is the foundation of any attractive compensation package.

Employee Compensation 52

Employee Compensation 401(k) PTO Bonuses 52