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What are voluntary benefits?

WEX Inc.

Voluntary benefits give employees the opportunity to further customize their benefits package to meet their personal needs. And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings. It is not legal or tax advice.

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How can voluntary benefits support employees in uncertain times?

Employee Benefits

Credit: Emerge / Shutterstock (1079190161) Employers should have an understanding of the issues their employees face in order to produce targeted and appreciated voluntary benefits strategies. So, what support can voluntary benefits offer in uncertain times?

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Voluntary benefits: A guide for your first-time enrollees

WEX Inc.

When it comes to navigating the world of employee benefits, there's a lot to take in, especially if you're a first-timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. Check out our other first-timer series blog posts on health plans and employee benefits.

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Importance of Employee Benefit Package And Why it Matters

HR Digest

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. What do you want to achieve with the employee benefit package 2. Overtime pay 3.

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85% of employers plan to further enhance their benefits packages

Employee Benefits

The majority (85%) of organisations plan to enhance their benefits packages for employees, according to research by HR and employee benefits consulting services firm Gallagher. Voluntary benefits such as bikes-for-work schemes have increased to 75% from 73% in 2022, while gym memberships rose to 45% from 34%.

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3 major benefits challenges for HR and how to solve them

WEX Inc.

From the rising costs of healthcare and benefits packages to retaining and recruiting to helping employees understand their benefits to the ever-changing regulatory landscape, HR teams face many challenges that present obstacles to organizational success. It is not legal or tax advice.

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Flexible Benefit Plans Give Employees More Options

InterWest Insurance Services

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.