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Salary Benchmarking: The Key to Attract and Retain Top Employees

Vantage Circle

You can establish what a ‘competitive’ salary is through a process called ‘salary benchmarking’ Let’s take a look at what salary benchmarking is and how you can use it to bring the best of the best to your business. What is Salary Benchmarking? How to do Salary Benchmarking 1.

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Decoding Life Insurance as an Employee Benefit

Zenefits

Generally, health insurance, PTO days, and remote work tend to be the top core offerings. But there’s another bread and butter benefit that should be on your radar: life insurance. How does employer-sponsored life insurance work? Purchasing life insurance for your workers is fairly straightforward.

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Helping Employees Understand Health Insurance Costs

Zenefits

But for businesses in which their employees select a plan from the government health insurance marketplace, open enrollment and explaining healthcare plans can be a complex topic for the HR team. In this article, we’ll break down how to explain the real cost of insurance. Premiums are only a fraction of health insurance costs.

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How to Evaluate Your Compensation Plan

Zenefits

Benefits : Paid time off, sick days, holidays, health insurance, other insurance. Benchmarking. This will require you to do a little research to benchmark your business against current conditions. There are several resources you can use for competitive benchmarking, including: The Bureau of Labor Statistics.

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What You Need to Know About Providing Healthcare Benefits in 2022

Zenefits

But, like everything else these days, the cost of providing healthcare insurance is rising. While the burden will be on insurance carriers to provide this information, the new rules require both employers and providers to comply. If you work with an insurance carrier, you must make sure they follow these rules.

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Affordable Care Act Requirements for 2022-2023

Zenefits

Health insurance is one of the most critical decisions an employer or employee can make — but 56% of employees spend less than 30 minutes evaluating benefits. Annual changes to the federal health insurance marketplace, coupled with Affordable Care Act (ACA) requirements, are meant to help both employees and employers get more fair coverage.

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7 Worst Employee Benefits

Zenefits

Better health insurance coverage, generous paid time off and vacation days, retirement benefits, and professional development opportunities all rank highly regarding job satisfaction and retention. Finally, there are some benefits — such as life insurance or retirement plans — that can push the cost of the program to the employee.