This post was originally published on On Deck
Offering competitive employee benefits can help small businesses attract top talent.
But how do you build an outstanding benefits package? Whether you’re navigating healthcare options, trying to decide on retirement plans, or considering which perks will resonate with your employees, we’ll walk you through what you need to know.
Here’s why employee benefits matter, and how you can structure yours to support your team and grow your business.
What are employee benefits?
Employee benefits are non-wage compensation provided to employees in addition to their regular salary. They can include health insurance, retirement savings plans, vacation days and even perks like gym memberships or paid volunteer days. These benefits play a critical role in boosting workplace satisfaction and employee well-being.
For small business owners, building an effective employee benefits package isn’t just about ticking boxes. It’s about providing tangible value to employees, showing them they’re appreciated, and fostering a positive, productive work environment.
Why is offering benefits important for small businesses? 1. Attracting talent.
Small businesses often compete with larger corporations for skilled professionals. Offering competitive benefits levels the playing field and allows you to stand out as an employer of choice.
2. Retaining employees.
Strong benefits packages play a crucial
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