Employers Boost Benefits, Seeking Edge In Hot Labor Market

By Kellie Mejdrich (May 13, 2022, 7:22 PM EDT) -- Employers looking to attract and retain top talent in a hot job market are getting more creative about benefits offerings, with perks ranging from student loan assistance to expanded leave policies and richer health insurance offerings.

Expanding a 401(k) program or improving health insurance might not be enough to compete in a job market where resignations and job openings hit all-time records this spring, according to a U.S. Department of Labor survey on job openings and turnover published this month.

While boosting compensation or introducing retention agreements are also gaining steam, employers are increasingly beefing up benefits as a way to...

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