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Podcast Webinars and Whitepapers Magazine Employee communications Benefits Think From overlooked to engaged: The key to a future-ready workforce By Sabra Sciolaro June 19, 2025, 5:30 a.m. Technological innovation is accelerating at an unprecedented pace and organizations face mounting pressure to transform their workforce capabilities.
Written by Sheu Quen • 4 minute read • September 25, 2024 Are your employees satisfied with their compensation, or are they looking elsewhere for better offers? That’s where a competitive compensation package comes in. Our article explores the vital role that well-designed compensation packages play in retaining talent.
Your current benefits need to keep pace. Employees look for solutions to their unique problems from building retirement savings to handling unexpected medical expenses. Compared to years prior, employees are more interested in retirement benefits and paid leave opportunities.
Are you having trouble making budgeting and workforce planning decisions due to the large number of seasonal and part-time workers you have? If so, you should use the full-time equivalent (FTE) measurement to standardize your workforce on paper. That’s true, but the benefits outweigh the effort involved. Why calculate FTE?
These demands come after years of dealing with reduced workforces and increased workloads. Wages and Compensation One of the primary demands is higher wages. They are seeking fair compensation that reflects their hard work and dedication. They are seeking fair compensation that reflects their hard work and dedication.
An inefficient benefits package could cause hires to seek out more positive and inclusive environments. Traditionally, employee benefits revolved around perks like vacation time off and retirement plans. However, the pandemic has demonstrated that workforce priorities and sentiments remain fickle and change at the drop of a hat.
This growing emphasis underscores the powerful impact perks have—not only in attracting talent but also in fostering a motivated, productive, and loyal workforce. Cultural Celebrations : Celebrate diverse cultures within your workforce by organizing events that highlight different traditions, foods, and holidays.
As an employer, you have the power to support your workforce by providing cost-saving solutions and promoting smarter healthcare decisions. Heres how you can help employees navigate and reduce their healthcare expenses. Explain the benefits of in-network providers to avoid higher out-of-pocket costs.
Some organizations are rolling out an unusual employee-retention strategy: digital health solutions. Likewise, 48% would have more confidence in a digital health solution if it were offered by their employer. Likewise, 48% would have more confidence in a digital health solution if it were offered by their employer. The top U.S.
One of the first things employees look at before even receiving a job offer is their compensation package. of employees rank compensation as the top factor in job satisfaction. So, how do you craft a total compensation package that resonates with a diverse workforce? Contents What is a compensation package?
Compensation and benefits refer to the benefits a firm provides to its employees in exchange for their labor. Compensation and benefits are thus a key part of Human Resource Management. In this article, we will provide you with a full guide about compensation and benefits. Benefits cover indirect pay.
The workforce becomes the top priority. When employees feel that their organization acts in their best interest, it contributes to their positive employee experience, resulting in an engaged, happy, and productive workforce. The management team must invest in digital tools that support remote and hybrid work arrangements.
The emergence of Generation Z (Gen Z) in the workforce brings a fresh wave of talent, creativity, and technological savvy. Embrace Digital Platforms: Gen Z has grown up in the digital age, surrounded by smartphones, social media, and instant connectivity. How Do You Attract & Retain Gen Z Employees?
Look for a solution that is as dynamic as your workforce and support your team with comprehensive financial wellness benefits that cover everything from financial planning and coaching to building an emergency fund or paying down debt. Mental health benefits can come in many forms.
Wellness app subscriptions. Competitive compensation and benefits like these are fundamental to attracting and retaining top talent, meeting a team’s needs, keeping people engaged, and fostering a healthy working environment. But as well as showing, companies also need to tell their people about their benefits.
For many businesses, the shift has led to a complete overhaul in their healthcarebenefits programs, or at least a need for further evaluation, which has kept professional employer organization (PEO) brokers busy and anticipating the next moves. Steady benefits coverage across SMB accounts.
The types of employee benefits an organization provides carry weight in today’s employment market. Compensation on its own is not enough to engage employees and attract job seekers who now expect more comprehensive rewards for their work. Which benefits an organization offers will vary according to its business situation and location.
Severance pay, also referred to as post-employment compensation, gap pay, or a separation package, is rarely a fun topic to discuss—no matter what your company calls it. In most cases, post-employment compensation is extended when job loss is not directly connected to job performance—but there are exceptions.
Managing employee benefits and compensation is an essential function for any organization that wants to attract, retain, and motivate top talent. Employee compensation and benefits are critical components of an organization’s total rewards package, which is a key factor in employee satisfaction and engagement.
Quick look: In today’s highly curated world, one-size-fits-all benefits planning no longer works. There are simply too many available options to rely solely on the status quo when it comes to HR management solutions. Upgrading to premier offerings doesn’t mean discounting the value of competitive pay and healthcarebenefits.
Quick look: SMBs have felt the weight of increasing healthcare costs and most consider it a top challenge in their recruiting efforts. Though necessary to stay competitive, the affordability of healthcarebenefits often causes a strain on already limited budgets. But what’s the solution? Finding answers through a PEO.
Employee Compensation Report , which enables managers to communicate with employees about their total compensation reports. This report — and other forms of total compensation statements — is a crucial tool for employee compensation communication and pay transparency. Click To Tweet.
If your workforce is multilingual, invest in a good translation system to ensure that no information gets lost in translation. People only succeed in their work when they have the right tools and equipment for the job. That all your tech devices and software are up-to-date. Healthcarebenefits: Healthcare is expensive.
workforce is made up of contingent workers—that includes contract company workers, independent contractors, and agency temps. Call it one of the many symptoms of advancing technology in our world of work today, as companies scramble to fill on-demand business plans and workers are more willing to be flexible. Today, 40.4%
“Now, the outside of work and the inside of work have meshed together,” he said about the overnight impact of the health crisis on employers, who have had to quickly start considering issues like virtual onboarding, successful remote-work structures and the employee experience of a distributed workforce. Jason Averbook.
If you are eager to outshine your competitors and build an exceptional team for your marketing agency, read on to discover the HR strategies and practices that can transform your agency’s workforce. It is also important to provide additional perks and benefits that go beyond monetary compensation.
PEO brokers should be ready to field questions and provide creative solutions for their SMB clients who may be apprehensive about this projected update. In addition to the expense of minimum wage and healthcarebenefits, employers aren’t required to provide office space or equipment to independent contractors which also reduces costs.
For example, the purpose of healthcare companies is to improve people’s lives in a positive manner and, ideally, that should dovetail with the personal purpose of the workforce, which desires flexible schedules to avoid burning out as they improve patients’ lives. says Martin.
Severance pay, also referred to as post-employment compensation, gap pay, or a separation package, is rarely a fun topic to discuss—no matter what your company calls it. In most cases, post-employment compensation is extended when job loss is not directly connected to job performance—but there are exceptions.
Compensation and Benefits: Fair and competitive pay, along with attractive benefits packages, can enhance job satisfaction. The company had a robust system of acknowledging employee contributions through regular team meetings, shout-outs in internal newsletters, and annual awards ceremonies.
Moreover, it has also given rise to the Great Resignation movement which shows that employees are no longer satisfied with just financial compensation and actively seek a work-life balance. Furthermore, it improves the workforce's well-being without affecting productivity.
This useful tool standardizes and streamlines the process, ensuring that it’s both comprehensive and consistent. Acknowledgement From HR Using Cisive’s Platform, Cisive Exchange When a manager discovers that an employee is planning to leave, they should inform HR immediately.
In today’s data-driven world, organizations rely on surveys as powerful tools for collecting information and gaining insights. Our dynamic survey tool empowers employees to share their thoughts and receive immediate insights on various aspects of their work. Overall, how satisfied are you with your compensation package?
Ineffective HR processes, systems, and policies can hurt your business. Essentially, an HR audit is an opportunity to tighten up processes so that aspects like recruitment, retention, onboarding, training, salary and compensation, payroll, and performance management all get the attention they need. It might seem like a lot of work.
Employer-paid healthcarebenefits, including insurance premiums. Employer-paid retirement benefits, including employer 401(k) contributions. Netchex is the leading HCM partner helping you improve workforce management and optimizing benefits for your employees. Does not include 1099 payments.
Employee Engagement Key Performance Indicator (KPI) is a tool used to measure the engagement and its impact on the business. The benefits an engaged workforce brings are hard to ignore. On average, every year, a company will experience 18% turnover in its workforce. What Is An Employee Engagement KPI?
PeopleKeep is a web-based platform that offers personalized health benefitssolutions to small and medium-sized businesses. The company is headquartered in Salt Lake City, Utah, and was founded in 2011 with the goal of helping businesses provide quality, affordable health benefits to their employees.
Lower incomes in combination with the escalating expense of healthcare coverage forces many employees to pick and choose health plan participation. Being unable to afford healthcare – even as an employee benefit – detracts from the allure of a company’s compensation package. Contact ExtensisHR today.
If you’re considering expanding your workforce in Belize, it’s essential to understand the local employment landscape, regulations, and cultural nuances. It’s crucial for employers to comply with these regulations to ensure fair compensation for employees working extra hours.
A well-informed workforce results in more value-based decisions for SMB leaders and their employees. A PEO like ExtensisHR has in-house experts to answer benefit-related questions, manage benefits administration, make necessary plan changes, and maintain compliance. Leveraging the Support of a PEO Partner.
Employee Benefits every HR practitioner should know Types of employee benefits among the different generations Wrapping up FAQ. What are employee benefits? Employee benefits cover the indirect pay of your workforce. Compensation and benefits go together, with the former covering your employees’ salary.
Savvy staffing executives must leverage social media platforms to attract a younger pool of workers. Leadership and teams have extraordinary gaps that call for innovative solutions to attract the necessary staff. Part-time benefits. Be sure benefits and other HR systems are accessible through apps.
This comprehensive guide will walk you through the intricacies of the hiring process, from understanding employment laws to recruiting and managing a diverse workforce. Minimum Wage and Compensation: Bahamian employment laws dictate the minimum wage rates, which are crucial considerations during the hiring process.
It says that 57% of organizations expect an increase in workforce headcount. Employee retention trends predict the future of work—the anticipated patterns influencing how employers can maintain their workforce, enhance loyalty, and increase competitiveness. What are the employee retention trends in 2024?
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