3 Tips on Designing an Employee Benefits Plan

Giving great benefits to your employees can motivate them to work harder and stay longer in your company. If you’re planning to improve your current benefits package or you’re just starting to create one, then consider the following suggestions:

3 Tips on Designing an Employee Benefits Plan

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Offer employee assistance programs

Stress and mental health issues are not ageist; they can affect anyone at any time in their lives. The American Institute of Stress argues it’s often not the job but the person-environment fit that matters. For these reasons, offering benefits that can help support employees’ mental health can be beneficial all around.

One way to support employees’ mental and emotional health is through an employee assistance program. Most EAPs offer services addressing a variety of areas such as marital, family, financial, addiction and psychological problems. Source: Entrepreneur

Provide work life balance

What many employees are looking for is the chance to work for an outstanding employer who understands the importance of having a life outside of the office. A strong work life balance program may include access to onsite lifestyle services (dry cleaning, fitness, cafeteria), as well as flexible scheduling that allows parents and caretakers the ability to manage demands on their time. Remote work is also a nice perk, and having the ability to bring pets and kids to work when needed is nice too. At the very least, have a generous paid time off benefit available to all employees. Source: TheBalance

Know what your employees want

Evaluate what benefits are most important to your employees. You will need to survey your employees or potential employees to find out what benefit types hold the most value for them. For example, part-time retail employees will typically value a greater percentage discount for employee purchases over a sales-based bonus plan, while a company that employs a large number of working parents might find greater value in a child care subsidy benefit. Source: SmallBusiness.Chron

For more tips or other advice on your business, book an appointment today!