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From employer-sponsored health insurance to retirement savings plans, an attractive benefitspackage can help you hire the best employees and ensure you retain them for many years to come. This can go a long way toward positioning your company to excel in the marketplace and securing your reputation as a stellar employer.
And how would providing your employees with access to big-business benefits improve your recruiting and retention efforts? They are when you outsource your heaviest HR burdens to a professionalemployerorganization (PEO). Want to learn more about how a PEO can benefit your business? What exactly is a PEO?
Start by offering a solid benefitspackage that includes a great portfolio of health insurance options to choose from. This alone can help ease some of your employees’ money concerns because they will have the opportunity to get things like medical insurance, disability, flexiblespending accounts, retirement plans and more.
These accounts allow an employer to reimburse employees for qualifying medical expenses and the employer gets to decide what those expenses will be. FSAs (FlexibleSpending Accounts): With flexiblespending accounts employees set aside pre-tax money to pay for health care or child care or other dependent-related expenses.
What is a ProfessionalEmployerOrganization? A ProfessionalEmployerOrganization (PEO) allows its clients to outsource many of their human resource functions, share employment liability, and, oftentimes, gain economies of scale to bring an improved benefitspackage to their employees.
PEO stands for “professionalemployerorganization”; small and midsize businesses that engage a PEO gain an ally when it comes to health insurance. You can learn more here. PEO Group Insurance* (Genesis Pick).
For example, some platforms allow for integrating different benefits, such as health insurance, retirement plans, and wellness programs. This can help employers tailor their benefitspackages to meet their employees' specific needs and preferences. Offers extensive savings through exclusive discounts and deals.
For example, some employers are adopting health plans that cover, or at least provide some reimbursement for, reproductive health. Add health savings accounts and flexiblespending accounts. Child and elder care assistance (flexiblespending accounts or company reimbursements to cover these costs).
This list of benefits (and their definitions) can help; compare the 16 types we’ve listed here to what you currently have available, and see if you’re offering things prospective employees are really looking for. 16+ types of employee benefits you should consider. FlexibleSpending Account (FSA).
Launching a successful benefits program in your workplace calls for a savvy employee benefits strategy. Here, we’ll cover everything you need to know about employee benefits. Employees appreciate employers who take the extra step of openly demonstrating care for their wellbeing.
But there’s one area where you can make a huge impact—your employee benefitspackage. Offering a robust employee benefitspackage isn’t just a luxury; it’s a transformative strategy. found that 57% of employees consider benefits and perks among their top considerations before accepting a job.
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