6 Must-Have Benefits Every Business Needs to Attract the Best Team
[If you’re looking to hire within your business, there are 6 key things you should have in place to help you stand out among other recruiters. Read below to learn how to find the best talent for your business].
When it’s time to hire employees, you do it with the hope that they will be a part of your team for the long haul right?
Of course you do!
Because all employees are looking for the same perks… BENEFITS!
I’d venture to say that the first thought when business owners hear “benefits” is typically healthcare coverage.
This makes total sense with the legal changes over the last several years.
But there are other benefits besides Healthcare that you can offer to your employees.
Let’s take a look at some MUST HAVE benefits for you to consider in your business
1. Minimum wage and overtime pay
While there is a federal minimum wage, states may elect to raise the minimum wage within their borders. The minimum wage can be modified by a change in federal law.
2. Employees time off to vote, serve on a jury and perform military service.
Employers big and small understand that civic duty and serving the country is admirable and support those decisions.
3. Pay state and federal unemployment taxes, thus providing benefits for unemployed workers
Unemployment insurance benefits are mandatory and vary by state. However, employees terminated with just cause typically do not receive unemployment benefits.
4. Workers Compensation
If an employee suffers an accident on the job, workers’ compensation insurance usually pays for medical costs, and time off in some cases. Workers’ compensation varies by state, and the federal government administers its own program for federal workers.
5. Social Security payment credits
When an employee works a certain number of hours in the job, the employee receives Social Security credits. These credits are applied toward retirement benefits when the employee reaches retirement age.
6. Comply with the Federal Family and Medical Leave (FMLA)
When your business has at least 50 payroll employees FMLA must be implemented as an option when employees must take a leave of absence due to family and medical leave (e.g., pregnancy, caring for a spouse, adoption and more)
When considering which benefits to offer, think of what is appealing to potential employees.
What will make a top prospect choose your company over the competition?
Let’s be honest, how often are benefits mentioned when a company is being recommended to a job seeker?
Even before submitting a resume, prospects want to know if there will be medical and/or dental plans.
Is there a retirement package? Are there allotted hours for leave?
You know, the basics!
In summary, these are my best tips to attracting the best team to help you build your business. Creating the right package, not only benefits employees but benefits your business and contributes to the culture of values you’ve created.
HR Brain for Hire™
This post is sponsored by Delmar Johnson, Founder and Creator of HR Brain for Hire™. She has worked with Corporate environments, small businesses and micro-entrepreneurs for more than 20 years. For more innovative HR solutions visit www.hrbrainforhire.com or contact her directly at email@example.com.