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Here’s how to design an impactful total rewards plan, and how a PEO can help time-strapped SMBs reap the benefits of a well-appointed program. Today’s employees want more than just a fair paycheck—they also seek comprehensive benefits, well-being programs, and learning and development opportunities. We’re here to help.
. - peoplekeep.com Unlocking Tax Advantages Many employee benefits offer tax advantages for both employers and employees. For instance, contributions to health insurance premiums and retirement plans can be tax-deductible for employers, while employees may receive these benefits tax-free.
By reviewing the information provided and comparing how it matches up with what small- and medium-sized businesses (SMBs) are currently facing, brokers, working together with a professional employer organization (PEO), can provide a better benefits overview to fulfill what employees find relevant and keep engagement and retention levels high.
According to the same BLS Employee Tenure Summary, the median tenure of workers ages 55-64 was 9.9 As more older workers retire, Millennials and Generation Z will soon dominate the workplace. As this happens, there will be increasingly less expectation that employees stay with companies long term. Remember the basics.
In exchange for this benefit, employees give up their right to sue their employer over their work-related injury, regardless of which party is at fault. Retirement plans Employees want to be able to save for retirement and plan for their futures. Many employers match their employees’ contributions to boost their savings.
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