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Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

401(k) Plans A 401(k) plan allows the employees to defer some of their salary. In this case, their deferred money goes into a 401(k) plan sponsored by their employer. If you establish a 401(k) plan, you: Can have other retirement plans. It can be a business of any size.

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Home Depot raises starting wage to $15 per hour minimum

Employee Benefits

Home Depot currently offers its staff elder care benefits, backup childcare, 24/7 virtual doctors, college planning, tuition reimbursement, a 401k retirement savings plan, discounts on gym memberships, electronics, and food shops, parental leave and adoption-related expenses reimbursement.

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Employee perk ideas to improve employee satisfaction and attract top talent

Business Management Daily

The most basic perks usually involve food, since people also need food to function. On-site food and dining areas also help employees stay focused. Employees who work in-person spend up to $50 a day on expenses related to commuting, parking, and buying food and coffee—expenses remote workers don’t have to worry about.

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Beyond health insurance: Innovative employee benefits that attract and retain talent

Higginbotham

Basic Benefit Packages are No Longer Competitive Not long ago, a more competitive benefits package might have included health insurance and a 401(k) plan , plus dental and vision insurance. Netflix also provides generous parental leave and unlimited access to medical, dental and vision benefits.

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How to Design an Employee Benefits Program Effectively

Empuls

Retirement benefits Retirement benefits include pensions, 401(k)s, and other retirement savings plans. Time-off benefits These benefits include paid time off, sick leave, and vacation time. The company has a strong focus on employee wellness, with on-site fitness centers, healthy food options, and wellness classes.

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How to Run an Employee Perks Program Effectively

Empuls

These programs can include gym memberships, on-site fitness classes, wellness workshops, mental health resources, and healthy food options. Examples include paid time off (vacation, sick leave, parental leave), sabbatical programs, flexible scheduling, family-friendly policies, and on-site childcare facilities.

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17 Essential Employee Benefits Ideas to Boost Morale and Productivity

Empuls

Here are some ideas for financial benefits and professional development: Retirement savings plans : Offering retirement savings plans, such as 401(k) plans or IRAs, is a common benefit offered by many employers. Parental leave Offering generous parental leave policies can help support millennial employees who are starting families.