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Employee Benefits: A Key Part of Job Compensation

Money Talk

paid vacation) ¨ increase productivity (e.g., flexible work hours) Below is a description of ten common employee benefits and benefit-like policies in the current labor market: Paid Vacation- This is one of the most common employee benefits. paid vacation) ¨ increase productivity (e.g.,

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Fringe Benefits: What Are They and How Are They Helpful

HR Digest

Unemployment insurance The Federal Unemployment Tax Act (FUTA) requires employers to pay a federal and state unemployment tax to the Department of Labor, this provides wages, training, and career guidance to employees in event of job loss due to no fault of their own. Most of these fringe benefits are taxable, barring few exceptions.

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Rethinking benefits and PTO in light of the COVID-19 crisis

Business Management Daily

Paid vacation and PTO. Though many workers have additional paid time off available and would benefit from using it to rejuvenate, getting employees to take PTO during the crisis can prove challenging. Dealing with PTO and other employee benefits during this challenging time may be taxing for HR departments.

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Examples of fringe benefits by category

Business Management Daily

Deductibles can be paid with tax-advantaged/tax-free spending accounts funded by employees and employers. It’s also worth noting that some fringe benefits are tax-deductible for employers depending on how much value they add to an employee’s compensation package. Time off is the closest thing we have to free money.

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6 Top Employee Benefits Programs With Examples To Boost Satisfaction

Empuls

A strong retirement plan can include: 401(k) plans: Many employers offer 401(k) plans that allow employees to save for retirement with pre-tax contributions. Retirement benefits Retirement benefits are vital for employees planning for their future. Some employers also provide matching contributions to incentivize saving.