As a small or mid-sized business owner, you should always look for ways to improve employee recruitment and retention. By offering a comprehensive employee benefits package, you can attract top talent and create the dream team needed to elevate your business.
Partnering with a professional employer organization, or PEO, is the best way to obtain the best of the best employee benefits package for your team. From premium healthcare plans to efficient PTO tracking, a seasoned PEO will get your employees the support they need to be happy and healthy. If you’re in the market for a PEO to boost your employee benefits package, look no further! We’re here to help you find the best-fit PEO for your business. But before we get started, let’s look at some of the best employee benefits.
Health insurance should always be top of mind when compiling an employee benefits package. After all, a sick or injured employee won’t be able to perform their job to their best ability, which could mean bad news for your business. So, as an employer, you should seek out health insurance plans with wide-casting coverage to ensure all of your employees’ needs are met. From standard health insurance and telemedicine to dental and vision benefits, your group health insurance plan should cover all your bases.
By working with a PEO, you can access the best health insurance plans available for your business. Because of a PEO’s size, they can grant you eligibility to large employer plans that wouldn’t have been accessible on your own. Not to mention, a seasoned PEO can also use its network of carriers to obtain the best health coverage at a discounted rate.
Paid Time Off
Paid time off, or PTO, is high on the list of desired employee benefits. Though you don’t want your business to fall behind on work, it’s important to support your team’s work-life balance by offering substantial PTO. Generally, you should provide a certain amount of PTO per year and paid holidays. However, it could also be beneficial to throw in some paid personal and sick days. A good rule of thumb is to be as generous as possible with PTO, as this will show your team that you trust them and care about their well-being outside of work.
Retirement Savings Plans & Financial Assistance
Though your employees might love their jobs, they’ll eventually want to retire someday (shocker!). So, it’s vital to include comprehensive retirement savings plans, such as 401(k) plans, in their employee benefits package. By doing so, you help grant them peace of mind that their retirement financing is on track and gain their trust. And if you’re feeling extra generous, you might also include a range of financial assistance services for your team to keep track of their retirement savings and other financial accounts.
Mental Health Coverage
Mental health has become a top priority in the workplace in recent years. Whether their stress stems from work or personal matters, your employees will undoubtedly need a breather every once in a while to prioritize their mental health. As an employer, consider including mental health days in your PTO and other de-stressing perks like subscriptions to sleep apps and massage therapy.
Remote Working Opportunities
Today’s workforce highly prioritizes flexibility and remote work opportunities. While working in an office used to be the norm, the pandemic showed us that many jobs could be done just as efficiently at home. Since then, employees nationwide have included remote work on their wishlist of company benefits. Employees save time and money on commutes and childcare arrangements by working remotely. Not to mention, they also have more flexibility in their schedules rather than abiding by the constraints of the 9 to 5 schedule.
Simplify Your Business with peo.com
At peo.com, we make it easier to find the perfect PEO provider for your business. With access to some of the largest PEOs in the country, our agents provide high-performing options that will unlock your business’s true potential. If you’re ready to take your business to new heights, connect with our team today to shop PEO quotes and receive competitive pricing within 24-72 hours!