Remove 401(k) Remove Disability Insurance Remove Education Remove Salary
article thumbnail

Total compensation package examples

Higginbotham

Employee compensation includes a lot more than just the base salary or hourly wage. The top two factors were, unsurprisingly, salaries and benefits: 67 percent cited salaries and 63 percent cited benefits as top factors. Salary may be the most important factor for many employees, but benefits come in at a very close second.

401(k) 52
article thumbnail

Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

These benefits are given to employees over their salaries and wages. These checkups are separate from the overall health insurance. Disability Insurance The employer pays the worker's salary if the worker becomes disabled or cannot work. Employees love benefits. It can be a business of any size.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Leveraging employee financial wellness programs in your benefits strategy

Higginbotham

Developing an Employee Financial Wellness Program Employees typically look for competitive compensation, but a good salary alone isn’t necessarily enough to ease financial difficulties. A 401(k) plan is a popular example of a defined contribution plan. According to the Education Data Initiative, 43.6

401(k) 52
article thumbnail

Employee benefits for small businesses

Higginbotham

This can be done through salary and wages, but it can also be done through benefits, and the latter can be better in some ways. Gallup says that the cost of replacing an employee can range from one-and-a-half to two-times the employee’s annual salary. Disability Insurance and Life Insurance. Other Key Benefits.

article thumbnail

What is a total compensation statement & how does it provide value?

Genesis HR Solutions

Following are items that would be listed on a total compensation statement: Salary/hourly wages. 401(k) matching contributions. Insurance, including health, dental, vision, life, disability, etc. Workers’ Compensation insurance. Health, dental, and vision insurance. Life and disability insurance.

401(k) 40
article thumbnail

How to Design an Employee Benefits Program Effectively

Empuls

They provide a range of benefits and perks to employees beyond their regular wages, including health and wellness benefits, retirement benefits, time-off benefits, employee perks and discounts, and educational assistance. Retirement benefits Retirement benefits include pensions, 401(k)s, and other retirement savings plans.

article thumbnail

Top Employee Benefits & Compensation Ideas for a Diverse Workforce

Vantage Circle

These are benefits given over and above salaries and wages. Disability Insurance. The employer pays for the worker’s salary if the worker becomes disabled or is unable to work. An employer can provide either short-term or long-term disability insurance depending on the needs of the employee.