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A Few Ideas To Consider Before Offering Employee Benefits

July 9, 2018 423 views

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A Collection of Articles Related To Employee Benefits

This post contains tips and advice written by a variety of authors on the topic of employee benefits, each providing their own insights, but first, a few brief points to consider.

Offering an impressive employee benefits package is something that can attract new employees and can help improve your employee retention rate. 

Think of how your benefits package improves the quality of life for your employees and their families. 

By offering an excellent employee benefits package, you accomplished the following:

  • You have Shown employee appreciation.
  • You have made a positive difference in the lives of the people that work for you.
  • You have improved your employee retention rates.
  • You have made your organization an attractive place for newcomers to work.
  • You can be proud of the benefits you offer at your organization. 

Not All Companies and Benefits Packages Are Equal

Not all companies are equal. You may be paying a premium for employee benefits that would cost you a lot less for the sample level of benefits. Whether you are concerned about cost or standard of value to your employees. Do your research and compare the benefit packages available.

Get Feedback From Your Employees

To find out what matters most to your employees. Create a company-wide survey to know what is most important to your employees and focus on providing what they want.

You can also interview a large group of random employees to get the feedback your looking for. There is no use in paying for employee benefits that have little value in the eyes of your employees. It’s much more effective to find what’s important and focus on those benefits in your package. Your goal should not be to go with the industry standards but what your employees want.

Keep in mind when you offer a package your employees want and are happy with, each of your employees becomes a walking advertisement praising the package they get at work. 

Naturally, this doesn’t mean you need to create a package that includes every request your employees asked for, some benefits may not even be available. Still, when you know what is essential, you can work on putting together something your workforce will be happy with. 

Setup Packages To Fit Your Needs

Depending on your benefits provider, there are many combinations you can put together for your employee benefits package.

For example, you may want $1,000 a year for dental and $300 for a chiropractor and $25,000 in life insurance.

Or

$2,000 for dental coverage, no chiropractor, and $15,000 in life insurance, and $2,000 for prescription drugs.

If the option is available, take some time to explore different combinations to identify what’s best for your employees. 

Resources:

There are many considerations for employee benefits. Have a look at the resources I have selected for this post that can guide you in identifying what kind of package you want to offer your employees.

Employee Benefits

Pros and Cons: Offering Employee Benefits – FindLaw

Weighing the Pros and Cons of Offering Employee Benefits

The Pros and Cons of Offering Employee Health Benefits

Types of Employee Benefits

Types of Employee Benefits and Perks

The Top 5 Types of Employee Benefits

Types of Employee Benefits | CAREERwise Education

16+ types of employee benefits you should consider – Genesis HR Solutions

Top 20 Employee Benefits & Perks for 2017 – Glassdoor Blog

Employee Benefits Packages

What’s in a Comprehensive Employee Benefits Package?

10 companies with innovative benefits packages | Employee Benefit News

How to Build a Competitive Employee Benefits Package | Inc.com

The Basics of Employee Benefits – Entrepreneur.com

How to Build a Great Employee Benefits Package

The Most Desirable Employee Benefits

How to Offer a Great Employee Benefits Package for Your Nonprofit | Justworks

These Are The Best Employee Benefits And Perks

Employee Benefits Providers

Employee Benefits: Ultimate Guide For Small Business Owners

Know What You Need to Select a Benefits Provider

Changing Employee Benefits Providers: What You Need to Consider

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