Employee Benefits
photo credit: striatic
Today with so many down spirals in the economy and work force, it’s no wonder that many employers feel it is too costly to offer employee benefits packages. However, it can actually cost your company more in the long run to not offer a benefits package to good employees.
Heading the list of must-have benefits is medical insurance, but many job applicants also demand a retirement plan, disability insurance and more. Tell these applicants no benefits are offered, and often top-flight candidates will head for the door.
You may want to consider complying with the FMLA act, this is a big one especially for woman who plan on having a family. Offer health, dental and life. Offer paid holidays, sick leave and vacation time to stay within competition of other companies.
Rather then pay for the entire cost of health and dental benefits, set it up to where you pay 70 percent and they pay the rest. Make sure all paperwork is in order, if not this can end up costing you a ton of money in the end. Be sure to let your employees know their cost in the benefits before they sign up.
What are your thoughts on benefits versus no benefits today?
Jason Monastra on April 7th, 2009 12:13 pm
Benefits are very important. We used to not offer those and about 2 yrs ago needed them to become more competitive. We were selling the outsourcing services but having issues hiring the proper people due to lack of the benefits.
Medical expenses and that focus is the major area of interest for the applicants. We do not offer 401k yet, and that seems to be the 2nd major component. Holidays and paid vacation are also must haves for the full time people.
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