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5 Benefits for Employers to Retain and Attract Top Talent

Best Money Moves

Retirement planning is one of the most common employee benefits offered by employers, specifically a 401(k) matching plan. According to a study by SHRM and Morgan Stanley, the most important financial wellness benefit for employees was retirement planning. Here are the 5 best benefits to help retain and attract top talent.

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5 Financial Steps to Support Employees in 2022

Best Money Moves

Employers can emphasize this by using 401(k) or other retirement plans. The most common retirement plan is the 401(k) match where the employer grants a certain amount to the plan based on how much the employee contributes. The best time for employees to start saving is right now.

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Financial Wellness Series Part Three – The Link Between Financial Stress, Health and What Employers Can Offer to Have an Impact

AssuredPartners

Greater employee participation and 401(k) contributions. Reduced Human Resources costs, not having to deal with processing wage garnishments and requests for payroll advances and 401(k) loans, etc. Reduced exposure to future litigation based on fiduciary liability as fewer retirees have financial problems.

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How HR Can Help Employees Facing Financial Hardship?

Hppy

Encourage Savings Promote savings initiatives like a 401(k) or Employee Stock Purchase Plan (ESPP) to help employees build financial security over time. Matching contributions or incentivizing employees to save a certain percentage of their income can go a long way in providing a financial safety net.

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Strength Through Financial Wellness

Flimp Communications

There are five basic contributors to financial wellness. Financial counseling , especially from professionals, can help people understand and manage the first two. What employers offer for insurance and benefits packages is crucial for long-term financial wellness as retirement accounts and employer contributions come into play.

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Support Your Employees’ Financial Health

eni

Financial Counseling – Connecting employees with Financial Professionals allows them to seek guidance as they experience specific challenges. Those that choose to meet with a counselor can move forward with a road map toward financial stability.

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Prioritize Financial Well-being in the Workplace

Empuls

Supplemental pay – This offering shows the workforce that the company is committed to charting a path to their employees' financial wellbeing. Supplemental income includes stock options, 401 (k) plans, bonuses, etc. Q: How can employers evaluate the financial wellbeing of their staff?