Author name: Thriftplan

Accounting for ThriftPlans: A Guide for Your Accounts Department By Thriftplan / July 21, 2023 Understanding Defined Contribution Savings Plans Defined contribution savings plans, such as ThriftPlans, involve both the employer and employee contributing to the employee’s savings account. Contributions are typically based on a fixed percentage of the employee’s salary, with the employer matching […]

Calculating the True Cost of Employee Turnover in Saudi Arabia By Thriftplan / July 21, 2023 Employee turnover is a common phenomenon in the workplace, and it can have significant financial implications for companies. In Saudi Arabia, the cost of replacing an employee can range from 50% to 200% of the employee’s annual salary (Al-Omran,

Streamlining Employee Benefit Administration: Enhancing Efficiency By Thriftplan / July 21, 2023 Efficiently managing employee benefits is essential but can easily become a burden within the HR department. Yet, to attract and retain top talent while ensuring compliance with regulations it is essential to manage it as efficiently as possible. Streamlining the process of benefit