Your Employment Guide to Types of Employee Benefits Packages

2d48ae8f0211e92a21dd87ceae2c66af

As an employer, if you want to attract quality employees, you need to offer attractive benefits. There are all sorts of benefits that employees seek. What you might be wondering is what should you offer? 

That’s a question that we can answer. Here is a helpful guide to employee benefits packages. 

Healthcare Benefits

Perhaps the most popular employee benefits are healthcare benefits. For some workers, healthcare benefits are the sole reason for choosing a particular job. This is particularly true when those benefits come with low premiums and low deductibles. 

At a minimum, you should offer standard health insurance. However, if you want to be even more attractive to employees, offer things such as Health Savings Accounts, dental insurance, vision insurance, and mental health coverage. 

Retirement Benefits

Another important part of any employee benefits plan is retirement benefits. For instance, you might offer 401(k) matching, helping your employees to optimize their retirement savings over time. If you really want to go the extra mile, you can offer stock options or retirement planning assistance. 

Retirement benefits are essentially just extra money. Who doesn’t want extra money? It’s bound to be a huge boon to your recruitment efforts. 

Lifestyle Benefits

You might also consider offering your employees lifestyle benefits. These include everything from gym memberships to travel funding to shopping discounts and more. They enhance your employees’ lives outside of work, allowing them to be their best selves both on and off the job.

Though these benefits are not typically at the top of a job seeker’s docket, they can help give your company the edge over its competitors. 

Financial Benefits

It could also help to provide your employees with financial benefits. No, we’re not talking about paying them money (though that helps too!). We’re speaking of things like financial advising, budgeting applications, earned wage programs (check out this EWA provider), and the like. 

You want your employees to practice good habits with their money. The smarter they are with their money, the less stressed they’ll be, and the more productive they’ll be for you and your organization. 

Pick-and-Choose Benefits

These days, more and more employees are offering pick-and-choose benefits or voluntary benefits. These are benefits that the employee can either accept or reject.

In accepting them, they will have a little more money removed from their paycheck. However, because the benefit comes at a discounted price, it’s ultimately worth the deducted income. 

Some examples of pick-and-choose benefits include pet insurance, legal counsel, life insurance, and financial counseling. 

Employee Benefits Packages Are Vital

When it comes to attracting and retaining high-quality employees, employee benefits packages are vital. Not only do they help to improve worker productivity but they also give your company an edge over other companies. 

On the hunt for similar info? Our website is the place to be. Browse through our other articles right now! 

Leave a Reply