A fairly generous employee benefits package can be an excellent way to keep and attract top talent.
There are many ways in which you can measure the success of an entrepreneur. Many such ways include the number of business they have launched, the revenue that’s been earned at each business, and the ways in which that individual has serviced and impacted their community. But perhaps the best way to measure such success is to see how well they treat their employees beyond tangible rewards like the paycheck; a business owner can show their value by the kind of benefits that they offer their employees, and employees definitely notice the kind of treatment they receive from employers.
Here are three employee benefits you should offer your employees to make sure they know they’re being cared for.
Health Insurance
Employees will likely want to know if you offer this benefit over anything else. Many small businesses have opted to drop this kind of insurance, an act that prompted the Affordable Care Act to take place. If you offer employees health insurance, it’ll save them money that will, in turn, make them loyal to your business.
Paid Maternity Leave
Most employers offer new mothers approximately 12 weeks in paid maternity leave, and some companies have now started to offer paid paternity leave for new fathers as well. By paid maternity leave we DON’T mean partial pay, we mean 100 percent of their wages.
(On a side note: pregnant women are classified as a protected group and may not be fired or otherwise subject to discrimination.)
401(K) Retirement Plan
A 401(K) is a voluntary retirement plan in which employees can contribute a portion of their earning and have it grow—tax-free—until they retire and withdraw that money—also tax-free. This retirement plan is sought after by the best of the best and will keep your top talent at your business.
When looking for the right employee benefits policy in your area that will meet the needs of your specific business, contact the independent insurance professionals at Phocus Companies.
