Top 4 Elements to Include in an Attractive Employee Benefits Package

One of your goals as an employer is to attract and retain the brightest and most productive employees. While reasonable salaries and wages go a long way toward accomplishing the goal, you should think about what sort of benefits package would motivate a potential employee to choose your company over the competition. From the insurance to a viable HSA account, here are a few examples of what to include in an Employee Benefits Package.

Employee Assistance Program

An employee assistance plan is designed to provide confidential services when some sort of major life change takes place. It’s not unusual for EAP benefits to include coverage for marital and family counselling, recovery from substance abuse, and support during times of severe financial distress.

Health Savings Account

The right type of HSA account makes it possible to build a resource that covers whatever the health insurance does not cover. Depending on the type of plan you choose, it could cover alternative forms of care such as acupuncture. The goal is to provide employees with a way to set aside funds they can use to seek out treatments they believe will help their conditions, even if those treatments are outside the scope of traditional health coverage.

Medical and Life Insurance

Insurance is a staple in just about any type of employee benefits package. You certainly want to include life insurance policies that will provide a reasonable amount of financial resources to the spouse or whomever the employee designates as the beneficiary. In terms of health coverage, the right insurance will cover most of the cost associated with different types of illnesses. Couple a carefully crafted plan for medical insurance with the provisions common in EAP benefits and your employee will be protected in just about any situation one can imagine.

Vacation Time and Personal Days

While having insurance, the HSA account, and access to help through an EAP are great, there is the need to get away from time to time. That’s where the idea of accumulating vacation time and personal days comes into the picture. Including both in the employee benefits package will make your company attractive to the kind of employee you hope to find.

Vacation time may be set, such as starting with two weeks annually and adding more as the years pass. In terms of personal days, you may want to consider creating a plan that allows the employee to earn one personal day for a certain number of hours worked. Those personal days can come in handy when the employee has doctor appointments or some type of personal business to attend to, and will need to be away from work. As long as the guidelines for claiming personal days are clearly defined, this approach works well for everyone concerned.

Take a look at your current employee benefits package. Could it use a little fine-tuning? If so, call a benefits expert today and consider different elements to upgrade or add, like EAP benefits. Doing so will position the company for attracting the kind of employees you want and give them reasons to remain with you for many years to come.