In this article, we'll go over some typical examples of employee benefits plans, what types of employee benefits are most valued, and what an effective group benefits plan should look like.
This is what HR experts tell us the various generations values.
It has been our experience that employees value certain kinds of benefits over others. Here is what we have found to be of value. We understand that it may be impossible to have all these included in your benefits program. We can help you identify specifically which program your employees value and then design a plan around these.
In general, businesses structure, contribute to, and provide employee benefits in two ways:
These plan designs offer pros and cons. It is best to have an agent help you design a plan that works best for your employees and business.
Benefit |
How it can work |
Health Insurance |
Employers typically share costs with employees, such as a 50/50 split or 60/40. |
Dental/vision |
Employers may contribute or employees pay premiums. |
Retirement |
Employers contribute an amount or match up to a percent. |
Life & Disability |
Some employers pay for a fixed benefit amount, such as $50,000 |
FSA/HAS |
Either employer or employee may contribute, subject to annual limits, depending on what is offered. |
Employee Programs |
Expense paid by the employer. |
Work-Life Balance |
There are usually funded by the employer. |
There are several approaches to putting together and then maintaining a benefits package that current employees will appreciate, and job candidates interested in. Many businesses have solid, creative, and engaging benefit packages, and they all look slightly different.
Your organization's goal should be to develop your own plan of an inclusive and dynamic employee benefits program that addresses your employee's needs while staying within your company's budget.
Enrolling your company in a group health insurance plan benefits both your company and your employees. The first step is to consult with your broker or health insurance advisor to determine the cost of enrolling your eligible employees. You may have greater flexibility, access to a larger network of doctors, and you may save money on taxes. Most importantly, your team will be healthier and happier.
Leap | Carpenter | Kemps Insurance Agency can help your company provide a competitive, attractive benefits package without breaking the bank. We have the region's largest and most experienced team of Employee Benefits professionals as well as access to plans from all the leading providers, including some that are exclusive to Leap | Carpenter | Kemps Insurance Agency.
From the "basics" like health, life, and disability insurance, to more "creative" offerings like 401(k) plans, FSAs, HRAs, and HSAs, we can demystify the options and design a benefits package to keep your company competitive.