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  • Geebo 8:00 am on June 12, 2019 Permalink | Reply
    Tags: , employee benefits, , ,   

    Are employee benefits on the way back? 

    Are employee benefits on the way back?

    In the past few decades, employee benefits have been on a drastic downswing. Long gone are the days where employers offered fair and affordable benefits to their workers. Now at many businesses employees are expected to sacrifice much of their personal life just to be able to collect a paycheck. Combine that with the cost of living greatly exceeding the average employee’s wages and you have a recipe for disaster. Now, one of the nation’s largest employers is offering new benefits to their employees that somewhat harken back to previous eras.

    In an attempt to retain their best employees Target recently announced increased benefits for their employees. The new benefits include paid time off for child or elder care and an expanded parental leave program. Target already paid their employees a better starting salary than WalMart and now with this new benefits package, they may also attract applicants who may not otherwise apply for retail positions.

    While this may sound great in the surface, Target has been vague about some of the more important details of their new benefits. For example, while Target says that “employees will have access to up to 20 days a year of subsidized in-center or in-home care for either children or elders” those subsidies don’t come from Target but from the employee. Target hasn’t released how much that will cost one of their employees but only describes it as ‘affordable’.

    However, this could be a sign of positive change for employees. If more businesses start offering more competitive benefits packages in order to attract better employees maybe will see the return of better benefits for all.

  • Geebo 11:29 am on August 2, 2016 Permalink | Reply
    Tags: employee benefits, , ,   

    Is student loan debt relief the new 401k? 

    Is student loan debt relief the new 401k?

    In the past, most employers provided a helpful benefits package to their employees. Robust health and dental plans along with a helpful 401k plan used to be the norm. A number of employers even had a program where you could be reimbursed for your college education if you attended classes while working for the company. Unfortunately, since the financial crash of 2008 a lot of employers have started scaling back on the amount of benefits that they offer. The financial crash also resulted in higher amounts of debt for college students who took out student loans in order to pay for their education.

    Now, some companies are offering a student debt relief plan as part of their employee benefits to attract recent college graduates. Much like a 401k, the company matches an employee’s deduction amount, and the plans can give out up to $1200 a year for six years. While it doesn’t completely wipe out a student’s debt it can take years off the payback process.

    If this practice becomes more widely accepted by more companies do you think this will encourage more people to seek a college education? Please let us know in the comments.

    • Sharonda Fentress 1:22 pm on August 19, 2016 Permalink

      Yes that would help a great deal that is an awesome idea!

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