Want to step up your employee benefits game?

Keka HR Blog

Previously, employee benefits were referred to as “fringe benefits” or “perks.” ” These are non-financial services given to employees in addition to their salaries. These benefits will help you distinguish your company from rivals.

3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers - Recruiting

“I don’t really care about my employee benefits,” said no employee ever. When it comes to employee benefits, if your business can offer it, employees want it. Here are three reasons to introduce better employee benefits as soon as the clock strikes 12.


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Employee Benefits Enrollment Software: Boost 2021 ROI


Does your HR toolkit contain employee benefits enrollment software? If not, you aren’t getting the benefits of your benefits. You choose benefits packages carefully because you want to attract high performers. Increased employee turnover.

16+ types of employee benefits you should consider

Genesis HR Solutions

For many small businesses, the struggle to compete with larger companies for talent is an uphill battle—particularly when it comes to benefit offerings. 16+ types of employee benefits you should consider. HSA funds roll over year to year if employees don’t spend them.

Why You Need a Seamless Hiring, Payroll and Employee Benefits Platform


The more time HR leaders spend on manual tasks, the longer it takes to move forward with hiring steps and get back to current employees who have HR-related issues or questions. Ultimately, this leads to both a frustrating candidate and employee experience. . To cut back on administrative tasks, your team can partner with a seamless hiring, payroll and employee benefits platform, which can make HR processes more efficient, saving your team time and money.

5 Payroll Management Tools Every HR Needs

HR Digest

For any business, a handy and adequate Payroll software application is a must-have. These payroll apps not only consolidate the multiple payment processes required into one platform but also offer numerous tools for economic and precise payroll functions.

Employee Benefits: Long-Term Beats Short-Term


Employers who want to slow workplace erosion need to invest in meaningful benefits with long-game implications. Rather than focus solely on culture as a replacement for rewards, why not add significant long-term incentives to let employees know you’re serious if they’re serious? Businesses have a habit of focusing on the here and now with their benefits: paid time off, vacation days, medical and dental. Every time they do, saving for retirement gets a little tougher.

6 Ways to Decrease Rising Employee Benefits Costs


In a 2021 Kaiser Family Foundation survey , “nearly 90% of large employers surveyed believe the cost of providing health benefits to employees will become unsustainable in the next five-to-10 years, and 85% expect the government will be required to intervene to provide coverage and contain costs.”

The Best Way to Process Payroll [Updated for 2020]


Or you own an existing one that is moving into the realm of employees. Payroll is one of the most important processes to handle correctly. Learn to Process Payroll Efficiently and Legally. We’ve created a comprehensive 5-part payroll processing guide to help you.

7 essential retirement plan questions


It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all.

Top 4 Employee Benefit Categories That Matter Most to Employees


Winning the quest for top talent requires a strategy that appeals to the needs and wants of job seekers and employees. Overall compensation packages must include salaries and benefits that attract and retain the best workers your company can afford. Financial benefits.

Student Loan Repayment 101: The Lowdown on 2020’s Hottest Employee Benefit


Chances are, you’ve probably heard about student loan repayment as an employee benefit. While innovative, student loan debt repayment as an employee benefit might not make sense for every employer. — What is Student Loan Repayment as an Employee Benefits? .

Consequences of Outdated Employee Benefits Systems


Technology is making remarkable strides across the employee benefits landscape. A 2019-2020 survey found that the vast majority of organizations are utilizing a benefits application in some shape or form. Benefits administration is regarded as the most complex HR process.

PeopleStrategy Partners with FinFit to Bring Financial Wellness to Small and Mid-Sized Employers


FinFit’s platform is now available to more than 200 PeopleStrategy clients, offering complete access to essential financial tools and resources to improve employees’ financial well-being. EDISON, N.J.,

What Are the 4 Major Types of Employee Benefits?


In the war on acquiring and retaining talent, the most generous benefits package a company can provide typically tips the scales in your favor. Workers are looking for the best starting wage they can leverage, but benefits and perks are as much a part of the equation as dollars.

2020 Plan Limits


Here is a summary of the important 2020 limits: Employee Benefits Retirement Planning HR & PayrollOn November 6, 2019 the IRS released the annual inflation adjustments for more than 60 tax provisions.

How to Process Payroll


The best way to process payroll is to not process payroll. Your HR & Payroll provider should do that for you. The truth is payroll is too time intensive and complicated (especially if your business has locations in more than one state). Employee addresses.

5 Key Elements to Look for in a Payroll Platform


Payroll and related costs can make up 50 percent – or more – of total business costs, so it’s critical to ensure you’re partnering with the right payroll platform to avoid costly errors and drive efficiency across your business. .

5 Key Elements to Look for in a Payroll Platform


Payroll and related costs can make up 50 percent – or more – of total business costs, so it’s critical to ensure you’re partnering with the right payroll platform to avoid costly errors and drive efficiency across your business. .

401(k) glossary: Your guide to retirement terminology


Saving for retirement should be simple. But whether you’re an employer sponsoring a 401(k) plan or an employee just trying to save, it can feel like the price of entry is an economics degree. Put some of the blame on retirement’s complex terminology.

PeopleStrategy and Peanut Butter Partner to Bring Student Loan Assistance Programs to SMB Employers


Being able to offer highly sought-after benefits such as student loan resources and repayment is another way we can help our clients differentiate themselves,” said PeopleStrategy Chief Growth Officer, Jim Prekop. Peanut Butter is the benefits administrator for Student Loan Assistance.

The Future of Payroll: 7 Trends to Watch


In most cases, the penalties are for payroll errors. This is why finding a way to optimize the payroll process and reduce any mistakes is essential. Staying on the cutting edge of payroll technology and trends is the best way for a business owner to discover the right way to handle this essential part of their business. employees – or 54% of the American workforce – are affected by payroll problems. Are you curious about the future of payroll?

Essentials for Your Small Business Payroll Budget


Payroll is a significant and recurring employer expense, which can cut into the profit margin if improperly managed. The key is to not overspend or underspend on payroll — and a payroll budget is essential to achieving this objective. Employee benefits.

A Guide to Employee Benefits in Canada


E mployee benefits in Canada can run the gamut from basic health care plans to travel benefits, company cars, and cellphones, so it’s easy to see why some businesses have trouble deciding what’s best for their organisation. More importantly, it can be difficult to keep track of the constantly changing rules surrounding taxes and employee benefits in Canada. Examples of taxable benefits include: Company cars.

A Section 125 Plan: The Overview for Employers

Patriot Software

Offering competitive benefits attracts, satisfies, and retains top talent. Benefits include everything from retirement plans to health insurance coverage. When you dive into different small business employee benefits, you might consider a section 125 plan. Payroll

Two More Reasons HSAs Are Essential for a Healthy Retirement

HR Daily Advisor

Health Savings Accounts (HSAs) can be used to save for both current and future health expenses, demonstrating their value as a tool for physical and financial health today and in retirement. In addition to the triple tax advantage and investment capability that was discussed in yesterday’s article , here are reasons three and four to consider adding HSAs to your employee benefit package. HSAs offer additional flexibility and benefits that other retirement accounts don’t.

Two Reasons HSAs Are Essential for a Healthy Retirement

HR Daily Advisor

Despite the recent increase in discussion around the need to save wisely for retirement, many Americans underestimate the healthcare costs they will face when they retire. In a study conducted by HSA Bank, 67% of consumers believe they will need less than $100,000 for healthcare expenses in retirement, and 82% believe they will need less than $200,000. [1] What does a successful employee benefit package look like? Benefits HSA

Is Your Retirement Plan Ready for a DOL Investigation?

HR Daily Advisor

Department of Labor (DOL) investigation of an employer-sponsored retirement plan may originate in a variety of ways. It’s not uncommon for the regulatory agencies that oversee retirement plans to disclose new initiatives aimed at ensuring that employeesbenefits are protected. By adhering to a best practice of proactive and preventive retirement plan administration, plan sponsors will be better prepared for an agency or auditor review. A U.S.

Payroll Accounting Basics for Small Businesses


Payroll accounting is the process of recording payroll expenses and liabilities in the general ledger, which is a central repository for the company’s financial accounts. What are payroll expenses? Why is payroll accounting necessary? Payroll expense management.

Understanding the cost of employee benefits & what it means for your company

Genesis HR Solutions

Employee benefits may be expensive, but their value goes beyond a simple dollar amount. When sizing up job offers, prospective employees will absolutely be comparing your company’s benefits against those of your competitors. Of course you want to offer the best of the best—benefits that help you edge out the others—but practically, how does the cost of employee benefits affect what you can offer? Common Employee Benefits.

Be Aware of Common Mistakes in Employee Retirement Plans

HR Daily Advisor

Employee benefits and retirement plans must comply with various laws and regulations to maintain their tax-qualified status. If a plan loses its tax-qualified status, employees may have to include plan contributions and any increases in the plan’s value in their income and pay taxes on their contributions. Below are some of the most common employee benefits and retirement plan mistakes. Missing employee deferrals.

How Does Payroll Processing Work?


Processing payroll is one of the most important, but time-consuming and frustrating tasks businesses face. Ensuring accurate and timely payroll requires attention to detail and careful record-keeping, and it’s one of the top reasons why companies rely on a payroll partner who has the experience to handle complex regulations. Here’s what’s included: Step 1 – Employee Information Gathering. Retirement plan documents. Step 2 – Employee Timekeeping.

Each generation has unique needs; offer benefits to meet them


Your organization most likely has staff on its payroll from four different generations: Baby Boomers, Generation X, Millennials and the newest to enter the workforce, Generation Z. It’s critical to understand which benefits are most important to them so you’ll create the best employee benefits packages across the workforce. “Identifying generational priorities is essential to benefits administration.” Retirement-planning priorities.

Employee Benefits 101: An Employer Guide for Growing Companies (Part One)


Welcome to Employee Benefits 101, a collaboration with Namely’s very own benefits team. Today’s post is the first of two in a series on managing benefits at your growing company. Ah, benefits. An important employee offering at any company—from the newest startup to the world’s best-known brand. You may find yourself setting up benefits enrollment for the first time. What kind of coverage can employees expect from you?

Chris Lu, Former Deputy Secretary of Labor, on Expanding Access to Retirement


Chris was in San Francisco recently, and we had a chance to sit down with him and discuss his perspective on the current state of retirement in the U.S. Question: The Department of Labor (DOL) oversees employer sponsored retirement plans, including 401(k) plans. retirement system? Answer: In the private sector, 55 million Americans lack access to an employer sponsored retirement plan according to the AARP Public Policy Institute. retirement?