A comprehensive benefits package is a must-have for employers. Without one, companies won’t attract new talent and may struggle to retain employees.

Given how important it is to stay on top of your benefits, we’ve outlined everything businesses should know about planning company benefits for 2022.

It Can Be Customized

Benefits packages can be customized to suit the needs and wants of employees. However, there are some standard things that are recommended to be included. Things like health, dental, and paid-time-off should all be top considerations when finalizing a plan.

For smaller employers, note that it is common for them to offer fewer components. But this doesn’t mean that more can’t be added if the company expands.

 

Regardless, just be sure to consult with a professional before making any revisions or updates. Someone like a financial professional, lawyer, or accountant to review all of your accounts and ensure that the plan you want is possible.

 

Offer the Basics

 

The main thing that should be included in a comprehensive benefits package is health insurance. Not only is this the most common coverage, but it is the preferred employee benefit amongst workers. So, if you can only afford to only offer one employee benefit, we recommend it be health care.

Adding onto health care, we would recommend owners consider offering dental insurance. This type of insurance is usually offered at a reduced rate if you’re already on their health care plan. That way, all of your employees will have coverage for preventative and emergency dental care.

 

Paid Time Off

 

Another common item to include in the package is paid time off from work. As part of an employee benefits package, employers should be providing a variety of options for PTO that are classified in ways that make sense for employers and employees. This could be things like paid holidays, vacations, sick, personal, bereavement, or funeral leave.

Consider Insurance

 

Owners should also consider offering short or long-term disability insurance. Short-term disability insurance ensures that employees would receive a percentage of income if they cannot work due to sickness or injury. Whereas, long-term disability is when an employee can’t work for a long period of time due to injury or illness. These benefits are attractive features that employees look out for and could provide them with serious help in a time of need.

Ultimately, when you offer a benefits plan (or update your existing one.) it could attract, retain and engage more talent. These plans not only protect the health and well-being of your employees, but of their families. In turn, helping create a better work environment. After all, employees will appreciate the perks and be more willing to stay with the company.

So, if you’re thinking of your plan for 2022, get in touch with a member of our team or another professional today. Someone who can objectively look at your finances, needs, and wants to determine the best plan for you and your employees.

If you’d be interested in learning more, or knowing what services would benefit you, give us a call at 407-328-5001

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