How To Offer The Best Benefits Package To Your Employees

How To Offer The Best Benefits Package To Your Employees

You understandably want to attract the top talent to work for your company. In many cases, highly skilled, experienced and educated individuals know that they are in high demand, and they often will search for the best overall compensation package that they can obtain. While this includes salary, it also includes a solid benefits package.

You may think that individuals are looking for creative benefits that make their life cushy, but many are simply looking for common benefits that the employer has not skimped on.

A Great Retirement Plan

An employer-sponsored retirement plan is one of the most common benefits options available, and it can be a true turn-off to job applicants if your company does not offer this benefit. It is not enough to simply have a retirement plan. After all, any individual can set up a private retirement plan through a great agency like Trajan Wealth.

The real benefit associated with using an employer-sponsored plan is the employer-matching contribution perk. Some employers may match 50 percent of an employee’s contributions up to one or two percent. A more lucrative benefit, however, is a 100 percent match up to three percent of the employee’s contributions.

Excellent Insurance Plans

Health insurance is a hot button for many people today, and many job seekers will not simply accept that you offer a health plan. Instead, they may want more information about it, such as which doctors and medications are covered, what the deductible is and more. Healthcare can cost a fortune in some cases, and your selection of health plans can play a major role in their out-of-pocket expenses. Other insurance plans that you may consider adding include life, vision and dental coverage.

A Profit Sharing Plan

Workers do not want to spin their wheels daily so that someone else can get rich. They often love the idea of a profit-sharing plan. This type of plan rewards workers with a bonus or other benefits when the company performs well.

Flex Time

A more modern benefit that many applicants are looking for is flex time. This may include flexible work hours or the ability to work from home at least one or two days per week. Flex time makes it easier for employees find a healthy work-life balance, and it can decrease stress substantially.

When your employee benefits plan is thoughtful and generous, you may be able to more easily attract top talent. More than that, you may even find that job satisfaction increases and turnover decreases.