HR Digest

DECEMBER 2, 2023

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.

Employee Retention 96

Employee Retention Salary Health and Welfare 401(k) 96

HR Lineup

FEBRUARY 1, 2024

Compensation goes beyond just the salary paid to employees and includes various elements designed to reward and recognize their contributions. It forms the foundation of an employee’s compensation package and is often influenced by factors such as experience, education, and market rates for similar roles.

Bonuses 60

Bonuses Commissions Salary Overtime 60

Vantage Circle

JULY 13, 2021

It includes the money paid to employees in wages, salaries, bonuses, perks, and other intangible benefits. Some non-monetary rewards include opportunities to learn and grow, extra time off, profit-sharing plans , wellness memberships, etc. A Total Rewards package primarily has the below five components.

IT 52

IT Bonuses Employee Retention Benefits Package 52