article thumbnail

Choosing the best workplace pension for your business

Employee Benefits

Transitioning to a superior provider is no longer a hassle: If you’re contemplating changing your current workplace pension scheme, the process isn’t as challenging as you might think. Many pension companies (we’re one of them!) What is a workplace pension? are prepared to assist you with the heavy lifting.

Pension 96
article thumbnail

Paul Gilshan: Are employee benefits as important as salary?

Employee Benefits

Employee benefits are defined as ‘non-salary compensation provided to employees in addition to their salary or hourly pay’ These benefits may include private medical insurance, pension contributions , childcare vouchers, a car scheme , and other perks such as discounts on gym memberships, travel, or education.

Salary 98
Insiders

Sign Up for our Newsletter

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

article thumbnail

Improving Employee Financial Wellbeing in the Face of Economic Uncertainty

Employee Benefits

It is often equated with providing higher wages or across-the-board pay raises. It allows your team to exchange part of their income for another useful, non-cash benefit, such as gym membership, a bicycle, a company car or even their pension. This tax-friendly incentive should not be overlooked.

Pension 98
article thumbnail

Top Employee Benefits & Compensation Ideas for a Diverse Workforce

Vantage Circle

Employees Prefer Benefits Over Pay Raise. Similarly, 89% of younger employees aged 18-34 and 84% employees aged 35-44 favor benefits to pay raises. Below listed are some employee benefits which employees feel are better than pay raises: Health Insurance. Retirement Plans. Paid Sick Leaves. Profit Sharing.

article thumbnail

What are Total Rewards: Here’s A Holistic View

Empuls

Variable pay. Supplementary pay. Variable pay - Also called ‘pay at risk,’ this part of the salary package has to be ‘earned’ by meeting or exceeding certain defined criteria. Only hard work pays off! This table breaks it down for easier understanding: Compensation. Overtime wage.

Bonuses 52
article thumbnail

Top Employee Benefits & Compensation Ideas for a Diverse Workforce

Vantage Circle

Employees Prefer Compensation and Benefits Over Pay Raise. Similarly, 89% of younger employees aged 18-34 and 84% of employees aged 35-44 favor employee benefits to pay raises. These are done through various methods like pension schemes, 401(k)s and more. Paid Sick Leaves. Taking care of your health is important.