When it comes to supporting and retaining your employees, raises
are a common way to acknowledge their hard work. But research
shows there are better ways to reward your entire team. Employees
increasingly desire added benefits and perks over yearly wage
increases.
Offering stipends to your employees is a great way to show that you
care about them without having to increase their salaries. Employee
benefits like stipends are also proven to recruit job seekers while
allowing employers to stay within budget.
But what’s the difference between stipends and salary increases, and
when might you want to offer a stipend to your team instead of a
raise?
This comparison chart will show the difference between providing a
stipend vs. salary increase. Topics include:
- What is an employee stipend?
- Employee stipend vs. salary increase comparison chart
