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Employees Want Better Benefits, Study Shows They're Willing to Leave Current Job for Better Retirement Options

Guideline

One of the top reasons small business employees leave jobs is to get access to better benefits and retirement options, according to a new study by Zenefits. But, things like fair pay, better benefits options, and job responsibilities are well within a business’s control. So What Should Businesses Do?

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HR vs. Payroll: What’s the Difference?

Zenefits

Ensure that shifts are maintained and well-staffed. Once a person does well at work, they may be eligible for additional financial compensation. With a tool like Zenefits, you can build the relationship and make sure that every change is communicated across your network. Software like Zenefits makes that possible.

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Retirees Are Re-entering the Workforce: What It Means for Employers

Zenefits

Retirement-aged employees, as well, found themselves heading for the door. The Employee Benefits News website says , “Retirement-aged employees were the first to go when COVID began.” As employers sought to cut costs to cope with the economic fallout from the pandemic, many decided to begin with retirement-aged employees.

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How To Calculate Total Compensation

Zenefits

That balance can be a challenge, therefore the company’s compensation strategy must be well informed. Both types of programs can incentivize employees to help the company do well overall. The most common retirement plan for employers to provide is a 401(k), but there are other options.

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Examples of fringe benefits by category

Business Management Daily

A good regular salary may have been enough years ago, back when government subsidies managed things like healthcare and retirement, but those programs have become less and less effective. Health & wellness Insurance plans are expensive, especially in the U.S. Most employees expect benefits. People want more.

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How a Financial Wellness Program Helps Your Employees — and Your Business

Zenefits

There is a solution that can help you and your employees alike: expanding your benefit program to include a focus on financial wellness. And the good news is that a financial wellness program doesn’t have to be challenging or expensive to start! Make sure your retirement offering is low-cost and provides personalized advice.

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Could an Early Retirement Package Incentivize Employees to Retire?

Zenefits

Annual raises and bonuses can put these staff members at the highest level of compensation, often for decades, as their organization waits for them to retire. If they don’t, it may be time to develop an Early Retirement Incentive Program. Are they retirement ready? These tools can keep the wheels of promotion well oiled.