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Pros & Cons Of Auto-enrolling Employees In A 401(k) Program

Genesis HR Solutions

Should you auto-enroll your employees into your company’s 401(k) program? Instead, take a look at the pros and cons, and then make an educated decision for your company. Automatic enrollment is exactly what it sounds like—you, the employer, automatically enroll your employees into your organization’s 401(k) plan.

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Chipotle Mexican Grill introduces financial and mental wellbeing benefits

Employee Benefits

Through this, it will match up to 4% of an employee’s salary through contributions to their 401(k) pension plan if they make student loan repayments. Chipotle has also introduced a student loan verification scheme, in conjunction with personal finance firm SoFi’s.

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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. Retirement planning is one of the most common employee benefits offered by employers, specifically a 401(k) matching plan. Employer-sponsered emergency savings accounts may be funded similarly to 401(k) accounts.

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Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

These benefits are given to employees over their salaries and wages. Disability Insurance The employer pays the worker's salary if the worker becomes disabled or cannot work. Short-term covers the employee for up to 6 months, while long-term covers a worker's lifetime salary. Employees love benefits.

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7 ways to support employees during economic inflation

Insperity

A 401(k) retirement plan is an important benefit that your company pays to provide for employees – and you want to make sure that they know how to take full advantage of it for their financial well-being and future security. Of course, there’s always the option of raising salaries commensurate with inflation.

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Total compensation package examples

Higginbotham

Employee compensation includes a lot more than just the base salary or hourly wage. Bonuses and commissions can give annual earnings a significant boost, and various benefits can also have a major impact on your employees’ finances and wellbeing. The real takeaway is both salary and benefits matter. Commissions.

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What is employer branding? How to build a great employer brand

Achievers

If your marketing efforts emphasize that you offer competitive pay, flexible work hours, and holiday bonuses, for example, you’ll strengthen your employer brand. These points can be redeemed for rewards like gift cards, company merchandise, cash bonuses, and more. Customer experience is important as well.