Employee Turnover And Retention Briefings Abstract: 9
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HR Bills pending in Congress Could help with Retention of Federal Employees [GovExec.com] Thursday 12/18/03 2:42 PM
The Federal Workforce Flexibility Act would authorize federal agencies to provide employee and hiring bonsues of up to 100% of salary. It also expands vacation time offering to mid and senior level employees.
In addition to the enhanced bonus and vacation flexibility, the bill also requires evaluation and improvement of employee training programs.
The awkwardly named Generating Opportunity by Forgiving Educational Debt for Service Act increases the amount that agencies can provide employees to pay off student loan debt to $10,000 per year with a maximum of $60,000. To be eligible for this loan assistance, employees must agree to work for the government for a minimum of three years. If this Act passes, the loan assistance payments would change from being a taxable benefit to being tax-free.
This bill is aimed at recruiting and retaining college graduates who routinely state in exit interviews that they view private sector jobs as being higher paying than government.
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