The six most commonly offered employee benefits
Looking for ideas to retain your most valuable workers? Read on for the six most commonly offered employee benefits.
Employee benefits have many advantages. Not only do they offer a way to attract and retain employees, but they also help improve employee well-being and encourage required behaviors, skills, and achievements.
However, employers must offer their employees the right benefits to get the benefits mentioned above. To find out what these are, check out the article below. We’ve made a list of some of the most commonly offered employee benefits in the US.
1) Health insurance benefits
This one is a no-brainer. Employees view health insurance as one of the most critical components of an employee benefits package.
The good news for business owners is that business health insurance doesn’t just benefit employees; it also benefits the business. For example, evidence suggests that businesses that offer this type of benefit are much more likely to find and retain good employees.
Thankfully, offering health insurance to your employees is easier than ever. There are several companies that provide easy benefit provider management. These companies make managing business health insurance easy for you and your employees.
2) Dental insurance
Dental insurance is another commonly offered employee benefit; however, it’s not offered quite as often as health insurance. One of the main reasons businesses offer their employees this benefit is because, compared to health insurance, it’s inexpensive to purchase.
However, although many businesses offer this perk, most are unwilling to pay for all of their employee’s dental treatment. Instead, many choose to pay up to 80% of the cost. This is still great news for their employees as it can save them considerable money, especially if you are looking for an invisalign provider to straighten crooked teeth as this can be costly because some insurance providers cover some of the cost of this treatment.
3) Paid vacation time
One perk that is extremely popular with employees is paid vacation time. Many employees argue that they couldn’t afford to take time off work if their employers didn’t offer them this benefit. Thankfully, most employers do. Over 60% of all employers continue to pay their employees when they take a much-needed holiday.
4) Paid holidays
As well as paying their employees when they take time off to go on a vacation, the majority of businesses in the US also pay their employees during the holidays; for example, on Veterans Day and President’s Day. This allows them to take part in the celebrations that are happening around the country.
5) Paid sick leave
We all get sick at some point. Whether it be with a cold or something more severe, there’s nothing worse than feeling like you have to go to work because you can’t afford to take time off. Fortunately, most employees in the US don’t have to worry about this. Their employers include paid sick leave in their contracts. However, there will be a limit on this. Employees cannot keep taking days off without good reason.
6) Life insurance
Another commonly offered employee benefit is life insurance. 59% of US businesses offer their employees this type of benefit. The majority of businesses choose to pay the entire premium for their employees as cover usually only costs a few pounds a month.
Offering employee benefits has many advantages, such as helping you to attract and retain employees. However, many business owners are unsure which benefits they should include in their benefits package. If you’re a business owner wanting to reap the rewards of a good benefits package, make sure you look into the benefits listed above. These are the most commonly offered employee benefits in America.
