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How to evaluate the compensation plan?

HR Digest

If you’re in the job market and get an offer with a salary that pays you $20,000 more than what you currently make, it goes without saying that you are supposed to take the money. Oftentimes a higher salary might not actually mean more money in your pocket. Retirement benefits – include 401(k)/403(b), pension plans, etc.

401(k) 82
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5 Steps to Building an Employee Benefits Program That Won’t Break the Bank

Insperity

Life insurance – Providing life insurance protects employees’ families by paying a specified amount to employees’ beneficiaries in the event of death. Life insurance premiums are typically affordable for most businesses. Aim for a plan that covers at least 60 percent of employees’ salaries.

Banking 51
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10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

Not just salary. You want your employee benefits package to include at least some of these popular fringe benefits : Health insurance. Life insurance. Disability insurance. Paid Time Off (PTO). But just 73% reported being satisfied with the paid leave offered at their organization.

PTO 105
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Employee Benefits in the UK: Unlocking the Perks of a Happy, Productive Workforce

Empuls

Leave and time-off benefits The UK government provides paid holiday, sick, and maternity or paternity leave based on employee salary and work timings. Holiday pay: The UK government mandates that employees be paid a weeks’ worth of pay for every week of statutory leave that they are entitled to.

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Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

Other types of insurance If an employee loses their ability to earn an income on a temporary or permanent basis, certain types of insurance can help protect their families and livelihoods. Disability insurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.

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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. Supplemental income includes stock options, 401 (k) plans, bonuses, etc. While the insurance premium is discretionary, plans include regular check-ups and eye and dental coverage.