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January 07, 2019

Student Loan Repayment Renamed a "Hot Employee Benefit" in 2019

With the New Year comes the implementation of fresh Human Resources initiatives and benefits— from onsite health and wellness programs to retirement planning, flexible work schedules and tuition reimbursement. HR departments across the globe are engaging their employees with unique reasons to stay with a company, enjoy coming to work, and to know they're valued.


In 2018, Student Loan Repayment was crowned by sources like Forbes and Employee Benefit News as the “hot benefit” for employee engagement and retention. With the one in four adults holding student loans and a nation saddled with $1.48 trillion in student debt, avantgarde employers are anticipating the needs of a dynamic new workforce and a benefits trend that will only continue to grow in popularity.


A recent article from 401kTV notes the spotlight will keep shining on the Student Loan Repayment benefit long after the 2018 buzz subsides. They emphasized the increasing importance of employers helping their employees achieve two crucial goals: eliminating debt and building adequate savings for retirement.


A recent IRS Ruling is also paving the way for simultaneous savings and debt elimination. LEAF took a deeper look into the many employer advantages of that game-changing benefits milestone in a recent blog. You can read more about it here.


Student Loan Repayment benefits are proven to increase retention, boost workplace performance and strengthen recruiting efforts, yet only 4% of today’s employers offer them. This presents an incredible opportunity for your organization to get ahead of an inevitable curve. Do you want to be able to say you offered a “hot” benefit before it became standard?


Luckily, the LEAF platform can deliver it to you with minimal back-end effort by integrating it into your existing payroll system.


That way, you can dedicate your company’s valuable time to attracting the brightest members of the talent pool and retaining them so they can play a pivotal part in your organization’s success.


Be a part of the most important wave of higher education benefits. Once your company is enrolled, Tier 1 employers can Sign up with LEAF right away. It’s simple. It’s seamless. And it saves your company from the all-too-preventable cost of turnover.  


To read the full 401kTV article, click here.

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