Typically, an employee benefits package includes insurance like health, dental and vision, supplemental options like life insurance and 401(k), as well as other perks like time off and flexible scheduling. Offering benefits in your workplace isn’t required in most cases, but it is something you should consider to find and keep the best employees. Many employees look for benefits packages when finding a job or may leave their current job for one with better benefits.
What is an Employee Benefits Package?
Benefits packages vary from company to company, but they typically include a combination of:
- Traditional insurance, such as medical, dental, and vision
- Supplemental benefits, such as life, disability and critical illness coverage
- Retirement savings, such as 401(k) plans
- Paid time off, such as vacation, sick leave and holidays
- In-office perks, such as free snacks or lunch
- Out of office perks, such as gym memberships
Why do Companies Offer Employee Benefits?
Next to having a competitive salary, offering a great benefits package is the best way to ensure you find and keep great employees at your company. If you want to attract great talent, you should make sure your benefits package is just as great. Additionally, a good benefits package can increase employee motivation, wellness, and loyalty. Offering a benefits package that meets the needs of your employees will show employees that you care about them.
What to Include in a Benefits Package
There’s no exact formula for what should be included in a benefits package. Ultimately, you should be considerate of the needs and budget of your employees when choosing what benefits to offer. You can learn what your employees want through an anonymous survey or poll. Some options to include in an employee benefits package are :
- Insurance (ex. medical, dental, vision, life, disability, etc.)
- Wellness program benefits (ex. Gym membership or Employee Assistance Programs)
- Paid time off (ex. Vacation and holiday)
- Remote work
- Flexible scheduling
- Employee recognition programs
These are just some of the options you can offer. Benefits packages are meant to fit your organization and your employees’ needs. Get as creative as you want to meet those needs.
Do you have any more questions about benefits packages? Reach out to Helpside at email@example.com to talk to one of our experts about employee benefits.