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Compensation is more than just base pay. It is a total package that should address your overall well-being - financial, physical, emotional, even spiritual. As companies compete for talent in tight labor markets, many are rolling out better benefits to attract and retain the best workers.
Some benefits are required by law.
Compensation is more than just base pay. It is a total package that should address your overall well-being - financial, physical, emotional, even spiritual. As companies compete for talent in tight labor markets, many are rolling out better benefits to attract and retain the best workers. Companies often strive to make it easy for employees to balance their work and family lives by offering family-friendly benefits, cafeteria plans, and other flexible options.
Benefits can significantly increase the value of the compensation package. The costs to employers for providing benefits such as health insurance, retirement plans, training, vacation and personal days, and perks such as concierge services could be a significant percentage of each employee's salary. Because benefits boost the value of compensation, always take benefits into consideration when evaluating a job offer or a promotion.
Some benefits are required by law. There are also many government regulations that set the minimum standards employers are required to make available to employees.
Paid time off gives employees a break
Health insurance provides medical care, can promote
Retirement plans encourage saving for the future
Insurance intended to safeguard finances
Training increases the value of
Lifestyle benefits and perks keeps employees
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