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Importance of Employee Benefit Package And Why it Matters

HR Digest

Health insurance 2. Pension or retirement savings plan 3. Dental or vision insurance 4. Considering health care and life insurance 5. Retiree health insurance 6. Disability insurance Looking at these results, it’s clear that financial security is a major driver of employee benefit choices.

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Paul Gilshan: Are employee benefits as important as salary?

Employee Benefits

Employee benefits are defined as ‘non-salary compensation provided to employees in addition to their salary or hourly pay’ These benefits may include private medical insurance, pension contributions , childcare vouchers, a car scheme , and other perks such as discounts on gym memberships, travel, or education.

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Two-thirds of Small Firms Are Boosting Their Benefits Packages: Poll

InterWest Insurance Services

Dental insurance. Life insurance. Accident insurance. Long-term and short-term disability insurance. Accidental death and dismemberment insurance. Defined benefit pension plans. Critical illness insurance. Hospital indemnity insurance. 401(k)s or other retirement plans.

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How to evaluate the compensation plan?

HR Digest

Retirement benefits – include 401(k)/403(b), pension plans, etc. Disability insurance. Life insurance. Paid leave – holiday, vacation, PTO, sick, personal, bereavement, military pay, jury duty, etc. Employee assistance program. Relocation expenses. Career-advancement opportunities.

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Total Compensation Statement Template: A Powerful Tool for Employers

COMPackage

Long-Term Incentives: This may involve stock options, restricted stock units, or profit-sharing plans.

401(k) 40
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Total Compensation Statement Template: Attracting and Retaining Top Talent

COMPackage

Benefits: Detail all benefits provided, such as: Health insurance (medical, dental, vision) Retirement plans (401(k), pension) Paid time off (PTO, vacation, sick leave) Life insurance Disability insurance Employee assistance programs (EAPs) Education assistance Other benefits (e.g.,

401(k) 40
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Total Compensation Report Template: A Data-Driven Tool for HR

COMPackage

Benefits: This section should detail all benefits provided, such as: Health insurance (medical, dental, vision) Retirement plans (401(k), pension) Paid time off (PTO, vacation, sick leave) Life insurance Disability insurance Employee assistance programs (EAPs) Education assistance Other benefits (e.g.,

401(k) 40