Attracting and Motivating Talent
As part of a compensation package, financial and security incentives can be quite persuasive. They can help attract and maintain the best talent, while improving employee motivation.
Offer Enhanced Benefits
Retirement plans and executive benefits can build your reputation as an employer. Not only are they attractive to employee prospects and a useful tool to retain top talent, but they also show your employees that you're concerned for their family's financial future. Look for tailored retired services that offer self-directed or professionally managed options.
Make Added Insurance Benefits Accessible
As an added perk, offer employees the opportunity to purchase accidental death, disability, long-term care or other policies. Voluntary benefits adds to their list of attractive employee benefits with no cost to you.
Provide Personalized Financial Advice
Employees and administrative staff need someone to talk to about employee benefits. Work with a partner who can offer your staff access to responsive, informed plan administrators.
Top 5 Things You Should Know about Attracting and Retaining Talent
Where Can I Find HR Advice?
While there's no replacement for an experience HR professional, many non-serious issues can be resolved with a little bit of research. Here are a couple of resources you can try:
- The Society for Human Resource Management is the world's largest association devoted to HR management.
- The National Association of Professional Employers Organization advocates for its members in government affairs, provides education and training programs and has a Code of Ethics and a number of best practices for its member companies.
Is a Roth 401(k) Right for Me?
Roth 401(k) contributions are subject to income taxes up front, but qualified distributions of your contributions and earnings are entirely free from federal income tax. If you think you'll be in a similar or higher tax bracket when you retire, Roth 401(k) contributions may be more appealing, since you'll effectively lock in today's lower tax rates.
Compare a Roth 401(k) to a Traditional 401(K)?Your retirement income can vary widely depending on what type of account holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods. Use this calculator to help compare employee contributions to the new after-tax Roth 401(k) and the current tax-deductible 401(k).
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