Four out of five employees want benefits more than a pay raise, which means crafting a high quality benefits package is a smart way to recruit top talent and keep high-performing employees around.
The Best Benefits Strategy
If you’re putting together an employee benefits package for the first time, health insurance is an obvious place to start. Maslow’s Hierarchy of Needs tells us that health and safety come first, and survey after survey reports that the number one benefit people look for with a company is health insurance.
But what about beyond health insurance? What are the next benefits you should offer? Along with a basic overview of the most important benefits, we’ve rounded up our most helpful articles about HR benefits employees expect so you can implement them as part of your company’s benefits strategy.
Still confused about the difference between a benefit and a perk? You can learn the real difference here.
Based on a 2019 benefits trend study from Metlife, these are the benefits and perks that can improve employees’ top stressors:
Employee Health Benefits
The number one benefit employees want is a full healthcare insurance package, including medical, dental, and vision. However, picking and choosing what benefits package you want to give your employees isn’t always a simple process.
Various federal, state, and local laws require employers to provide certain minimum benefits to employees, and the legally required benefits you need to offer largely depends on your company size and location.
You’ll also have to choose the means of finding a quality benefits provider, whether through options like a PEO or broker.
Navigate cost, plan coverage, and doctors networks with this informational guide. You’ll walk through premiums and deductibles for employees and distinguish the difference between HMOs and PPOs.
What good is offering benefits if employees are left behind? Check out these tips to learn what perks and benefits can help you company build and maintain cultural diversity in the workplace.
We made an eBook that simplifies the complex process of choosing a benefits provider for your company. You can download it here.
Vacation, Paid Time Off, and Paid Sick Leave
Modern companies are increasingly turning to unlimited paid time off (PTO) policies that offer greater work flexibility. Meanwhile, a growing number of state legislatures are exploring mandated paid sick leave, even though many states don’t implement it yet.
If your company is curious about implementing a PTO policy, or if you’re looking to gain more knowledge around paid sick leave, these articles can give you the need-to-know.
Taking a sabbatical can have a huge impact on employees and teams. One early Justworks’ employee shares his experience and the impact it had on his mental wellbeing.
We conducted a survey that unveils some interesting truths about PTO and workplace flexibility — including which benefits people would take a pay cut to get.
From mandated sick leave to the Family Medical Leave Act, here are six different laws companies should know when crafting employee leave policies.
How to Create a Benefits Package
Use our guide to simplify creating a benefits package.
401(k) Plan, Retirement Plan, or Pension
Unfortunately, one in three Americans have no money in retirement savings. Help your employees secure their future (and help secure your company’s) by offering a competitive benefits package that makes a real difference in someone’s life.
Straightforward and to the point. This post will walk you through the details of a 401(k) and how your company can benefit from offering one.
Your top hiring candidates ask about 401(k) plans, your employees demand them, and you care about your own financial safety. To ensure you’re mitigating risk when implementing a 401(k), we’ve laid out a few important tips here.
Money isn’t everything, but it doesn’t hurt, either. The articles below will help you figure out the tax legalities of bonuses and how to understand whether bonuses actually count as a benefit or perk.
Prizes, bonuses, and awards are all considered supplemental wages. Learn how to classify the difference between regular wages and supplemental wages, as well as how those taxes are withheld.
Break down the differences between bonuses, prizes and awards, and non-cash prizes and classify them correctly for tax purposes.
How to Implement a Benefits Strategy
Still have questions about implementing your benefits strategy? To dive even deeper, see how Justworks can give you access to a wide variety of rich beneifts plans by checking out our benefits here.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.