Employees count on their employers to provide good benefits. Employers need to build packages that adequately meet the needs of their workforce but are also affordable. In some instances, employers must provide certain benefits as a matter of law. However, offering good benefits is an important part of attracting and retaining excellent personnel. Companies need to carefully evaluate the significance of each benefit that they provide and select plans that include optimal features.
Healthcare coverage is typically the most important component of employee benefit packages. Employers with more than fifty employees generally must provide healthcare. A plan can be paid in whole by an employer or an employee can contribute specific percentages towards their plan premiums.
A wellness program is a good supplement to a healthcare plan. It helps employees stay healthy proactively and reduces utilization of other benefits.
Short-Term and Long-Term Disability
Disability plans can help provide employees with lost wages when they are unable to work. A plan may pay some or all of an employee’s wages.
An employer contribution to a retirement savings account such as a 401K is a great way to reward and retain personnel. Offering this type of a benefit shows employees that a company is willing to invest in them individually, and it promotes a positive company culture.