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Illness or Injury: How Your Business Can Protect Your Employees

InterWest Insurance Services

Increased employee loyalty — especially after someone on the payroll has a claim and word gets out that these valuable benefits kicked in. Tax-deductible premiums. Pre-existing conditions that would make it impossible for employees to get coverage as individuals, may be waived in a group plan. List billing.

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Choosing the best workplace pension for your business

Employee Benefits

More complex aspects like varying tax relief methods and payroll integration will be covered later. It’s essential to account for your employees’ needs and what suits your business best. Which Tax Relief Method is Used? Relief at Source pension contributions from your employee are taken after tax deduction.

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Address the Cost of Living Crisis with your Workplace Pension

Employee Benefits

By presenting a more enticing pension proposal, firms can foster greater employee loyalty. If employees are persuaded to remain, the savings can be substantial. Through salary sacrifice, employees can elect to reduce their annual wages, diverting the difference into their pension fund.

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The significance of women’s health is increasingly acknowledged in the modern workplace

Workplace Insight

Firms should also provide salary sacrifice schemes to help women set aside pre-tax salary to support their health and wellbeing. By proactively addressing women’s health, companies can enhance employee loyalty, reduce turnover, and mitigate the significant costs associated with neglecting these issues.

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Why Your Business Should Embrace Fair Chance Hiring Now

HR Digest

Comply with “ban the box” laws , boost retention , and unlock tax credits like the Work Opportunity Tax Credit (WOTC). By embracing fair chance hiring, companies can access a diverse talent pool, improve retention rates, and benefit from incentives like the Work Opportunity Tax Credit (WOTC).

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How to offer health insurance as a small business

Higginbotham

However, employee recruitment and retention aren’t the only reasons to offer health insurance. Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy. You offer SHOP coverage to all of your full-time employees.

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Do companies really benefit from giving tuition reimbursement?

Achievers

Remember that you may be able to offer up to $5,250 tuition assistance per year per employee and deduct it as a business expense on your taxes. Be sure to read the fine print on the IRS instructions regarding this tax break before you proceed. appeared first on [engage]-The Employee Success and Engagement Blog by Achievers.