What Is Included in a Well-rounded Employee Benefits Plan?

Employee benefits have become a critical aspect of the employee-employer relationship. As your company seeks to grow and prosper, it requires a well-rounded, capable and reliable workforce. However, in a competitive and dynamic labor market, hiring and retaining an ideal staff can be a difficult challenge. Fortunately, your company may be able to give itself a leg up by understanding and maintaining an attractive employee benefits plan.

What Benefits Should My Company Offer?

Your business’s ideal employee benefits offerings may be unique. You may want to begin by surveying your employees directly to better understand what benefits they value and others that may be underutilized. While these survey results may vary significantly depending on your company and staff, the following are common facets of a well-structured employee benefits portfolio:

• Health insurance
• Life insurance
• Vision insurance
• Dental insurance
• Retirement plans (e.g., 401k plans)
• Student loan reimbursement
• Education and training opportunities Pet insurance
• Mental health and counseling services
• Paid time off Flexible scheduling
• Wellness benefits (e.g., reimbursement for gym memberships)

Why Are Employee Benefits Important?

Structuring an ideal employee benefits package can be critical to your business’s short- and long-term success. Specifically, your company may garner the following advantages:

• Improved employee health—Employees can stay healthier when they have access to medical services, preventive care, and wellness benefits. This may directly improve productivity and reduce absences.
• Decreased workplace stress—Certain benefits, such as retirement plans, mental health services and flexible scheduling, may all help reduce employees’ stress levels and maintain a healthy work-life balance.
• Better attraction and retention—Many employees may value a good benefits portfolio even more than greater direct compensation. By offering attractive options, your business may be equipped to attract the best available talent and keep current staff from leaving for other opportunities.

We’re Here to Help

Contact Shelton Insurance in Hollister, CA, today to learn more about employee benefits.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.