Aquent Announces Payroll Deduction Holiday for Talent on Health Insurance Premiums
Aquent, a workforce services company operating the world’s largest marketing and creative staffing firm, announced a new initiative to help the contingent workforce during these precarious economic times. Thanks to Aquent’s business relationships with its clients, the company will be offering “Holiday for the Holidays,” a two-week holiday for its creative and marketing talent from paying healthcare premiums. This paycheck deduction relief will help workers realize more savings at a time when it is needed most.
“One important lesson the COVID-19 pandemic has taught us is that during times of crisis, companies have to double down on efforts to invest in their most important assets: their people,” said John H. Chuang, CEO of Aquent. “As a result of building and maintaining strong relationships with our clients, we are able to offer this special financial relief to our contingent talent during the holiday season as a way to say ‘thank you’ for their hard work and many contributions during this difficult 2020.”
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Under the “Holiday for the Holidays” program, eligible working and enrolled talent that Aquent provides its clients will not be charged health insurance premiums for the pay periods of November 25 and December 2, 2020. During this moratorium, talent will still be completely covered, and the premiums will never have to be repaid. This will put more money back in people’s pockets for everyday expenses.
In addition to “Holiday for the Holidays,” Aquent has implemented a number of other programs over the past 8 months to enhance benefits offerings for talent and free up cash flow for clients.
Aquent CARES Extension (ACE) Program:
To help its clients with their cash flow during the pandemic, Aquent is allowing its clients to defer the employer portion of FICA taxes on their Aquent talent. This cash flow benefit is being offered as interest-free loans.
Sick Pay for All:
Aquent has extended sick pay to all of its talent in the United States and Canada. This critical benefit is needed because the federal government, 37 U.S. states, and the Canadian government do not have sick pay laws.
401(k) Employer Match:
For all of its hourly talent in the United States and Canada, Aquent has also introduced an employer match. Under this plan, Aquent is matching 10% up to the first 10% of pay for all of the company’s hourly talent enrolled in the Aquent retirement plan in the U.S. and Canada. Additionally, Aquent has further diversified its 401(k) plan by introducing new socially conscious funds (ESG funds).
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Earlier this year, Aquent also announced a three-pronged initiative to help foster racial equality and social justice. This includes educating Aquent staff on social justice, ensuring staff had time to vote on Election Day and making a financial commitment to the NAACP Legal Defense and Educational Fund.
In 1993, Aquent became the first staffing company to offer full comprehensive benefits, including health and dental insurance and 401(k) retirement plans to its temporary employees.
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