As you begin to think about what kind of benefits package you want to offer your employees, consider some facts about employee benefits in the U.S.:
- In 2012, 57% of private industry workers had the option of medical care benefits through their employers
- Paid vacation and holidays are the most common benefits offered to employees
- 99% of full time state and local government workers were offered retirement benefits
No matter the size or type of business you have, an attractive employee benefits package can help to provide security for your current and future employees that can help you to optimize your investment in your staffing.
Elements of a Competitive Employee Benefits Package
A good benefits package will include a number of different types of coverage that help to round out the compensation you provide, which of course starts with your employees' normal salary.
Some of the employee benefits you can consider include retirement income, workers compensation, short term disability, long term disability, healthcare coverage, dental and vision plans, life insurance, identity theft protection and paid time off. If you are a public company, or a company that is considering going public, your offering may include employee stock options as well.
Putting thought into your benefits program is important, not only because it can help you to draw top talent to your business, but it can also help your employees to manage their health and wellness and provide financial protection in the event of disability.