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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. Compensation and Benefits Appropriate compensation for the work done is a key component of many employee retention strategies. Here, other forms of monetary compensation are useful as well.

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Creating a comprehensive benefits package to attract and retain top talent

PeopleStrategy

To overcome this challenge, you need to do everything you can to make your company stand out in ways that your competition simply can’t match; offering a comprehensive benefits package is one of the best ways to reach that goal. While salary is still important (we all have bills to pay!),

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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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The role of compensation and benefits in retaining employees

Hppy

Compensation and benefits play a crucial role in attracting and retaining employees. A competitive salary and benefits package can be a deciding factor for job candidates when choosing between job offers, and can also be used as a retention tool to keep current employees satisfied and engaged.

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Controlling turnover with employee benefits

Abel HR

Specifically, 53% of workers said they’d be more loyal to a company that offers a robust benefits package and 52% indicated that expanded offerings would make them more successful in both their work and personal lives.

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How to Run an Employee Perks Program Effectively

Empuls

The world of work has changed dramatically in recent years, with the focus shifting from traditional job perks like salary and benefits to more innovative and attractive employee perks programs. A comprehensive employee perks program can help companies stand out and attract the best candidates.

401(k) 40
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Prioritize Financial Well-being in the Workplace

Empuls

💡 71% feel the cost of living is outpacing growth in their salary or wages. With the rising household debt, many employees are turning to their employers for long-term financial wellness support and comprehensive benefits programs. Supplemental income includes stock options, 401 (k) plans, bonuses, etc.