HR, Benefits & business
One effective way to keep employees loyal to your company is to offer employee benefits insurance. The popular benefits that job seekers want are disability insurance, medical insurance, and retirement plan. If your company does not offer these benefits, expect that your top employees and applicants might leave.
Jump-start the growth of your business by offering the right employee benefits. Once the employees receive the benefits they want, there will be fewer absences and higher commitment because they are satisfied. The result is also beneficial to your company because you will have more productive employees.
The Basics Of Employee Benefits
As an employer, you are required to follow the law regarding certain benefits. You need to:
The law does not require you to give your employees with vision plans, dental plans, health plans, life insurance, retirement plans, as well as paid sick leave, holidays, or vacations. However, a lot of companies provide their workers with some, if not all of those employee benefits because they want to be competitive.
Also, a lot of employers allow their employees to take vacation leave for religious holidays or sometimes leave from work without pay. You need to explain the company’s vacation policy to your employees. Indicate whether you want them to write or inform you verbally about their vacation request.
They should specify in advance how long they want to take leave from work. While you are not required to give funeral leave for the death of close family members, you may allow your employees to take 2 to 4 days of leave.
Another thing to remember is that if you give one of your employees a tax-advantaged benefit, you have to extend this benefit to everybody.
While it is easy to understand workers’ compensation, there are some loopholes to it. Make sure to consult with an expert about it.
At Employee Solutions Group, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (630) 384-9874. Get your free quote today by CLICKING HERE.