Companies often give workers benefits to support them settle into new environments. Many workers think that they merit benefits like holiday time, laptops, pension plans, Insurance, and more. Although many companies provide these perks and facilities, there is no obligation to give anything to your employees beyond these constitutionally required benefits:
Workers Compensation: Workers get insurance benefits when they become sick or wounded at work. The Department of Labor designed compensation programs; however, keep this in mind that each state has its regulations.
Unemployment insurance: Unemployment plans pay benefits to employees who have lost their jobs and meet the program’s conditions. Every state has its qualification requirements.
Social Security Tax Benefits: You and workers will pay into the scheme to pay for Social Security Benefits.
Medical Leave: The Family and Medical Leave Act (FMLA) gives eligible workers up to 12 weeks of unpaid leave annually. This leave protects the workers from losing their job while managing family matters.
COBRA: COBRA provides workers and their families who lose their health benefits. They have the right to choose to continue group health benefits from their health plan for limited periods under certain circumstances.
Why give employees more?
Although you aren’t bound, giving workers perks is good for morale, reputation, and company. You can show future workers that you care about their well-being as well as their prospects. Benefits packages often increase worker retention rates, which saves money in the long run. Hence going the extra mile to make workers feel appreciated is worth thinking about.
Here are some advantages that you can give to your employees:
- Time off: The Federal Government does not need sick leave or vacation leave, but It’s a good idea to give your workers time off. Work is essential, but self-care is equally as important. This will keep your workers well rested so they can do their best when on the job.
- Health Insurance Coverage: Dental and Medical coverage is something that many people look for when seeking jobs, especially families and young professionals.
- Flexible Schedules: Most workers work straight 9-hour shifts, and this may work in some places, but it is not always necessary. Companies like Thumbtack, Urban Airship, Livetecs.com, and others understand a work/life balance. Your workers will have the capability to work when they want to and can suit their personal wants outside of work.
- Electronics: Some jobs require employees to work on computers, tablets, and other devices. Some workers might not have these devices, or they may not be up-to-date. Whatever the case is, it is a good idea to invest in purchasing these for your employees so they can work efficiently.
- Educational benefits: Various young professionals are looking for positions that give free or partially-covered education. Helping them with their education will add to your employee’s abilities and knowledge. And of course, which in turn can help your business become more successful.
Benefits are great for both your business and your workers, so you may want to consider forming a benefits package. When you give your workers benefits, you will want to make sure that you correctly keep track of everything that you are giving them. As an employer, it’s vital that you have audits with an HR professional. You will want to make sure that you are compliant with local law. Additionally, if you’re going to give time off, you will want to make sure that all worker records are accurate and stored in an audit trail. Timesheets.com provides a reliable and easy way to track employee time, time off, and other such benefits.