article thumbnail

Rethinking benefits and PTO in light of the COVID-19 crisis

Business Management Daily

Here’s a rundown of some of the employee benefits companies are taking a close look at in light of the COVID-19 situation: Healthcare. Paid vacation and PTO. Such mindsets, however, worry some companies as they approach the middle of the year with large PTO balances sitting in employees’ banks.

PTO 89
article thumbnail

Examples of fringe benefits by category

Business Management Daily

A good regular salary may have been enough years ago, back when government subsidies managed things like healthcare and retirement, but those programs have become less and less effective. By offering perks such as gym memberships and plenty of vacation time, companies can sweeten the deal for prospective new hires and attract top talent.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Are Employee Benefits?

Abel HR

Since there’s no definitive leave law to mandate all organizations, companies can choose to have a paid or unpaid leave approach. In some cases, there’s the paid time off (PTO) approach where employees can take their leave, regardless if it’s a sick leave, holiday leave, etc. Work Flexibility.

article thumbnail

What employees expect from benefits packages

Business Management Daily

Despite the emergence of the healthcare marketplace, people still look to their employer as the first and most cost-effective choice for medical insurance. Anybody who has ever looked at healthcare plans knows they vary considerably. Likewise, paid vacation days offer the opportunity for workers to recharge.

article thumbnail

17 Essential Employee Benefits Ideas to Boost Morale and Productivity

Empuls

From healthcare and retirement plans to flexible work arrangements and professional development opportunities, employees are looking for a comprehensive benefits package that meets their unique needs and preferences. Unlimited PTO Millennials prioritize work-life balance and value flexibility in their schedule.

article thumbnail

18 Years of Service Award Ideas for Celebrating Employee Milestones

Empuls

Paid time off (PTO) enhancement Enhance the standard employee benefits by offering additional paid time off (PTO) as a years of service award. For example, Microsoft could enhance their years of service awards by offering additional paid time off to employees who have been with the company for a certain number of years.

Bonuses 40
article thumbnail

3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers

That’s the case for any employee benefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance. Naturally, most businesses can’t afford the king suite of benefits—unlimited PTO, free insurance, etc. Some paid parental leave. Free healthcare coverage. Paid time off to volunteer.