Running a successful business, keeping employees happy and attracting new talent can be difficult. For a busy business owner, a big part of your value proposition are the individuals that work at your company.

Employee Benefits are non-cash compensation paid to an employee.

Why employee benefits make smart business sense:

  • Save money and time
  • Increase the wellness and productivity of your employees
  • Be competitive and attract new employees and key talent
  • Provide a solid framework for the future
  • Form a part of your business’ value proposition
  • Increase employee engagement

There are a number of employee benefits and perks that can be valued more than pay raises:

  • Health Benefits (ex. medical, dental, life disability insurance)
  • Retirement/Pension Plan
  • Vacation/Paid Time Off
  • Performance Bonus
  • Paid Sick Days
  • Flexible Schedule (ex. work from home)
  • Office Perks (ex. Casual dress, free lunch)
  • Employee Development Programs (ex. Professional development, on-the-job training)
  • Tuition Reimbursement
  • Employee Discounts
  • Gym Membership or Wellness Program
  • Stock, Stock Options and/or Equity
  • Paid Parental Leave (ex. Maternity leave, adoption assistance)
  • Child care Assistance (ex. On-site Childcare, Financial Assistance)
  • Commuter Assistance (ex. Company shuttle, commuter checks)
  • Diversity Program
     

Next to salary, health benefits coverage is the most important tool in attracting and retaining key staff. 59% of employees would rather keep benefits coverage than receive a $10,000 raise. (2011 Sanofi-Aventis Healthcare survey)

How to get started?

  • Establish and define the advisor-client relationship.
  • Gather information about current your employer-employee situation and establish goals.
  • Analyze and evaluate current employer-employee status.
  • Your advisor will develop and present strategies and solutions to achieve goals.
  • Your advisor will implement recommendations.
  • Your advisor will monitor and review recommendations. Adjust if necessary.
     

Next steps…

Talk to us about helping put together an employees benefit package that makes smart business sense.