HR policy

Employee benefits help businesses attract and retain top talent by offering valuable perks like health insurance and paid time off.

An employee benefits scheme is a structured plan that outlines the benefits provided to employees, including health insurance and retirement savings.

The top 5 types of employee benefits include health insurance, retirement plans, paid time off, disability insurance, and wellness programs.

Employee benefits refer to non-wage compensation provided to employees, such as health insurance and retirement plans.

Reducing attrition is important for maintaining a stable workforce and improving employee satisfaction and productivity.

Attrition in HR refers to the loss of employees through voluntary or involuntary exits over time.

Attrition can be a KPI when used to track workforce stability and employee retention in HR performance metrics.

Retention rate in HR measures the percentage of employees who remain with a company over a specified period.

A good turnover rate varies by industry, but typically ranges from 10-15%, depending on the business and workforce needs.

Turnover rate is calculated by dividing the number of employees who leave by the average number of employees during a period.