Benefits

Flexible benefits enable workers to access a wider range of benefits from the employer’s package. The employer will often decide the benefits levels and types they want to offer their workers. According to the U.S. Bureau of Labor Statistics, in 2021, 31% of state and local government employees had access to flexible benefits. This figure was 35% for education employees, 36% for hospital employees, and only 11% for private industry...

Looking for a detailed guide on sabbatical leave? You are in the right place. The term “sabbatical” comes from the Hebrew word for rest. It means that you have a period off where you do not work. In other words, you get some free time away from your regular duties. It is a paid leave period, so you don’t lose any money by taking these days off. You need to...

Loss affects our ability to focus on work and often overwhelms us. It’s an inevitable part of life, but many businesses don’t understand the importance of providing bereavement leave for their employees. Bereavement leave isn’t a legal necessity, but most businesses should offer their staff time off to deal with losing a loved one. You don’t have to include bereavement time off in an employee’s contract, but most specialists recommend...

Are you looking for flexible benefit examples? If yes, you came to the right place. Flexible benefits are an effective way of personalizing employee compensation. They allow employees to tailor their benefits package to suit their individual needs and lifestyle. This type of package is popular because it offers employees greater control over how they spend their benefits budget. A well-designed benefits package helps an organization compete for talent, reduce...

Looking to know about the disadvantages of flexible benefits? You’re at the right place. With the escalating competition and the need to attract and retain the best employees, flexible benefits have become a norm in the corporate world. Competent workers are now looking for more than just a good salary. They also want benefits that improve their quality of life. Appreciating employees’ efforts by offering them compensation is vital for...

Looking to know the procedure for implementing a flexible benefits program? You are at the right place then. A flexible benefits program is an employee benefit program that allows individuals to tailor their total compensation package through a range of options, such as health insurance, retirement plans, or flexible spending accounts. Flexible benefits allow employees to tailor their benefits package according to their needs and preferences. Employees choose from a...

Are you looking for fringe benefits examples? You are in the right place then. Fringe benefits are fundamental organizational programs that boost the productivity and motivation of employees. You can offer several types of compensation to introduce and retain the top talent in your organization. The Internal Revenue Service (IRS) considers fringe benefits taxable income in most cases. If you are on your way to providing fringe benefits to your...

Wondering how to calculate fringe benefits for employees? We are here to help you calculate fringe benefits and follow the best practices. Fringe benefits are a strategic tool that employers use to attract and retain top talent. Calculating fringe benefits demands from employers to stay compliant with the law while also providing a competitive benefits package to employees. By offering fringe benefits, employers can provide their employees with additional compensation...

What are the best insurance benefits for employees? Here’s an article on everything you need to know about employee insurance benefits. Your business needs top talent to succeed. Your ability to attract and retain top talent depends on several factors, including compensation, company culture, and opportunities for growth. One of the most critical factors candidates consider when choosing a job is the employee benefits package. According to a Randstad US...