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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.

Salary 98
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Employee benefits for small businesses

Higginbotham

A Glassdoor survey found that 80 percent of employees prefer additional benefits over a pay raise. Health Insurance for Small Business. Under the ACA, small employers with fewer than 50 full-time equivalent employees are not required to offer health insurance or subject to the employer shared responsibility provisions.

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10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

The survey also found that 80% of employees would choose additional benefits over a pay raise. " Long story short, fringe benefits are taxable employee benefits and must be included in the recipient's pay. Life insurance. Disability insurance. Not just salary. Tuition assistance. Commuter benefits.

PTO 106
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Why Employee Perks Can Help Your Company Win?

Vantage Circle

Traditional benefits include health insurance, retirement savings options, life insurance, and paid vacation time. Health Insurance: 40% of respondents to Glassdoor's Q3 2015 employment confidence survey said that they value health insurance more than a pay raise.

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How to Design an Employee Benefits Program Effectively

Empuls

Certain benefits like health insurance can promote employee wellness and reduce absenteeism, which can be beneficial for both the employee and the company. The survey also found that 80% of employees would choose additional benefits over a pay raise. Here are some important employee benefits statistics to support the fact.