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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. In her book Keeping the People Who Keep You in Business , Leigh Branham recommends companies actively work to retain key employees, at least the top 80 percent.

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Digital healthcare… enhancing employee wellness at every age

Employee Benefits

Dr Olivia Codrington, Lead GP for Doctor Care Anywhere – our digital healthcare platform partner – and NHS GP, joined us to discuss the current state of the NHS and the difficulties employees face in trying to book GP appointments. With the retirement age continually increasing, many UK employees rely on their salary for longer.

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7 strategies for a successful total rewards program

Insperity

A total reward program is a comprehensive offering by organizations to their employees consisting of compensation, benefits, wellbeing programs, career development opportunities, and recognition initiatives. For more tips, download our free e-book, The Insperity guide to being a best place to work.

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Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

Highlights Meaning of employee benefits Imoprtance of employee benefits Types of employee benefits Legally mandatory benefits Popular employee benefits Creative and budget-friendly benefit ideas What Are Employee Benefits? These benefits are given to employees over their salaries and wages.

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What are fringe benefits? What employers need to know

Insperity

Some states may also tax fringe benefits, so be sure to check with your state tax authority before designing a fringe benefits package. Examples of taxable fringe benefits include: Non-business use of company cars Cash (bonus pay) Gym memberships Paid personal time off. 31 of the year after you give them to the employee.

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How to conduct a compensation and benefits review

Higginbotham

Companies depend on their compensation and benefits package to attract talent. On the other hand, if you offer benefits that no one really wants or cares about, you’re wasting money. You need to get it just right, and a compensation and benefits review can help. Employee Benefit Needs Have Changed.

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3 Types of Compensation Packages To Consider and Why

Achievers

Most of us receive a paycheck, so it’s easy to assume compensation packages are pretty black and white. Some folks are hourly, some are salaried, and depending on what role they play, others receive bonuses or commissions based on their performance. Straight salary compensation. Salary plus commission compensation.