Remove Finance Remove Financial Counseling Remove Salary
article thumbnail

5 Benefits for Employers to Retain and Attract Top Talent

Best Money Moves

The cost of replacing an employee can range anywhere from six to nine months’ salary, according to data from SHRM. Offering the service of financial coaches adds a personal touch to the offered benefits and lets employees know that their specific needs are met. Retain and attract top talent with these 5 standout benefits.

401(k) 111
article thumbnail

Strength Through Financial Wellness

Flimp Communications

There are five basic contributors to financial wellness. Financial counseling , especially from professionals, can help people understand and manage the first two. What employers offer for insurance and benefits packages is crucial for long-term financial wellness as retirement accounts and employer contributions come into play.

401(k) 81
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ant Donaldson: How can employers encourage staff to save money?

Employee Benefits

For example, 11 million adults have under £1,000 in savings, according to the Resolution Foundation; UK adults’ average unsecured debt was £3,797 in 2022, according to The Money Charity; and two in three UK employees are refused bank loans, while one in three run out of money before payday, according to Salary Finance.

Pension 59
article thumbnail

It’s a Match! How to Create an Equitable Compensation System That Fits You

HR Digest

Apollo Technical reports that 39 percent of those considering job changes are motivated by higher salaries. An equitable compensation program guide and creating fair salary structures is important for the LGBT community as well, who makes up 7.1 Those who feel unfairly compensated move on. Gender is not the only discriminating divide.

article thumbnail

Prioritize Financial Well-being in the Workplace

Empuls

In an uncertain political and economic climate, where a sizeable proportion of the global workforce faces in-work poverty, the standard wages offered by companies aren't enough to alleviate the financial strain on employees. 💡 71% feel the cost of living is outpacing growth in their salary or wages.

article thumbnail

The Legal Aspects of Layoffs: Understanding Employee Rights

Empuls

In many cases, employees past their probation period are entitled to one week's salary for every month they've worked for the company. These benefits can provide temporary financial support while employees search for a new job. Financial counseling and wellness support are also becoming more common as an employee benefit.

article thumbnail

Employee Benefit: A Strategic Investment for Attracting and Retaining Top Talent

Empuls

  But where exactly does each chunk of your hard-earned salary end up?    This isn't just a budgeting question – it's a question of understanding your financial reality.   Even the most rational person can fall victim to decision fatigue, leading to financial choices they might regret later.