What we're seeing
In a tight labor market, competitive wages alone is not a guarantee employees will stay—benefits and related services need to mesh with the entire compensation structure, especially for highly compensated employees (HCEs). The Society for Human Resource Management (SHRM) report, 2019 Employee Benefits, shows 76% of employers offer supplemental life insurance, almost half offer supplemental short- or long-term disability and 7% offer a supplemental executive retirement plan. These carve-out benefit plans and other perks allow employers to compensate their executives sufficiently and avoid losing them to other organizations.
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