Being an employer comes with a set of responsibilities--to your business, to your bottom line, to your customers...and to your employees. When creating a total compensation package to attract and keep the talent you need to keep your business going, consider your benefits package carefully.
As well as being an important part of total compensation, benefits are also among the measures you take to keep your workers safe, healthy, productive, and satisfied. A wisely considered, well-rounded benefits package goes a long way toward ensuring the success of your business. This guide can help you make the right decisions.
So, you know you want to treat your employees well and offer a benefits package that will entice people to come work for you and encourage them to stay. But, first, you have to cut through some confusion and learn the facts.
- Which benefits are required by law?
- Which are optional?
- What are "voluntary benefits?"
- Which benefits truly add value to your employees' lives and work, and what are your options for purchasing them?
What Does a Good Benefits Package Do for You As An Employer?
- Helps you attract, hire, and retain qualified employees for your business.
- Allows you to compete in the marketplace as an employer.
- Keeps employee morale high and improves productivity.
- Helps your business grow and thrive over time as employees retire and new employees advance to take their place.
First Commonwealth Bank and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.