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3 powerful ways to improve your employee retention rate

Achievers

Competitive wages will always be an important factor in retaining high-quality employees. Health insurance coverage and paid vacation time are considered standard, so going above and beyond that minimum can go a long way toward improving your retention rate.

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17 Essential Employee Benefits Ideas to Boost Morale and Productivity

Empuls

Employee benefits are non-wage compensation provided by employers to their employees in addition to their regular salary or wages. These benefits can come in various forms, such as health insurance, retirement plans, paid time off, bonuses, employee discounts, tuition reimbursement, and more.

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What is the Difference Between Benefits, Perks, Gifts, Awards, Incentives, and Rewards?

Empuls

For example, almost every company offers health insurance, but the coverage varies from company to company and is sometimes based on the location. The same goes for paid leaves since every organization has a different leave policy. What are perks? What are gifts?

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Top 20 Examples of Employee Incentive Programs

Vantage Circle

So offering dearness allowance as a type of employee incentive program is a reliable way to attract and retain employees. Fringe benefits are the goodies that companies offer employees besides their salaries. They are usually non-cash perks, such as health insurance, paid vacation days, or gym memberships.

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What are Total Rewards: Here’s A Holistic View

Empuls

Paid leaves. Health Insurance. Employee discounts & meal plans. Paid leaves – From maternity to sick leaves, compensatory time off, and even paid vacations, paid leaves are usually calculated by dividing an employee’s annual leave balance by the number of pay periods in the year.

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3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers

Yet many business owners today still seem hesitant to invest in better coverage or more paid vacation hours to woo new talent. The recession created an employer’s market where employees often had to settle for “good enough” when it came to their benefits. At a minimum, you should be able to check a few of these: Paid time off.