Business Benefits Group can assist businesses to set up a comprehensive and economical employee benefits package. BBG’s Benefits Consultants can work with employers to determine which options are right for their business. Businesses who work with BBG to build a competitive benefits package will be better able to attract and retain top talent. Our knowledgeable Benefits Consultants can collaborate with employers to build and implement an appealing and manageable employee benefits package that is the perfect fit for their business.
Build Your Benefits Package
When it comes to establishing a benefits package, it’s important for businesses to develop an overall plan for what they wish to accomplish. This may include opportunities for professional development, increasing employee wellness, or helping employees save for retirement. Once employers have decided on company goals are, then they can take the next step—building a benefits package that satisfies these requirements.
What Benefits Should Employers Offer?
The type of benefits that a business offers can be specific to the company’s needs. Employee benefits are not one always one size fits all; they should be selected based on what the company and its employees actually need. For some companies, offering unique benefits—such as student loan repayment—may be necessary to attract or retain younger employees. For others, retirement plans or an excellent health care plan are key. It is important to assess the demographics of a workforce in order to determine which benefits will have the biggest impact on employee satisfaction. This can be determined in part by analyzing certain demographic data about employees, such as their age, marital status and whether or not they have children. Employers can also simply ask employees what they want; this will not only give employers valuable insight, but it may also show employees that the company considers what is important to them.
Under the Affordable Care Act, employers with 50 or more full-time employees are required to offer health insurance as a benefit. But even if a business does not fall into this category, most employers find that employees expect health insurance. There a a variety of different health insurance plans that employers may elect. Each type of health insurance plan has its own unique advantages and other considerations. Our knowledgeable Benefits Consultants can help employers understand the nuances of each type of plan.
Like health insurance, many employees expect retirement plans as part of their benefits package. There are a number of different retirement plans options for employers to evaluate. The structure of a retirement plan will designate how the plan operates including important guidelines such as total annual contributions. Because these plans require compliance with IRS rules and regulations, BBG’s Benefits Consultants can help make sure that your business is operating within the boundaries of these laws.
Other Common Benefits
Beyond retirement and health insurance plans, offering other benefits may give businesses an advantage over other employers. These benefits could include anything from dental and vision plans, life and disability insurance, or even tuition assistance and student loan repayment plans. Paid time off (PTO) for vacations and holidays is another common benefit that employers may elect to offer. The type of speciality benefits that a company chooses should not only depend on what employees desire, but also on what the business can afford. BBG can price the various options to help employers decide which options make the most sense for their business.
Advantages of Working with BBG’s Benefits Consultants
When it comes to employee benefits, employers want to make sure that they are offering the best options at the best price—and with minimal stress. Business Benefits Group’s experienced Benefits Consultants can explain a wide variety of benefits to businesses and assist employers in selecting the ideal benefits for its employees and budget. Working with BBG’s Benefits Consultants will not only save employers both time and money, but it can also help to alleviate the stress of benefit decision making. With guidance from our benefits consulting experts, employers will feel confident that they have made the best decision possible for their business.
Contact Business Benefits Group for More Information Today!
Building a benefits package can be a complex process. Employers who would like more information on putting together a great employee benefits plan can contact Business Benefits Group by sending a message online or giving us a call today!