Benefits
What are employer provided benefits?
We often get asked – what are team member benefits? Benefits, also known as perks or fringe benefits, are provided to team members over and above salaries and wages. There are some mandatory benefits that are required by law, but the majority are usually at the discretion of the employer.
Benefits can vary between industries and businesses and are sometimes referred to as “fringe” benefits. These perks can include:
- Insurance
- Medical
- Disability
- Life
- Dental
- Vision
- Paid time off
- Holidays
- Vacation
- Sick
- Personal
- Individual and family leave
- Flexible schedule
- Remote options
- Four-day work week
- Built in daily breaks
- Retirement planning with company contribution & matching
- Pension
- Stock options
- Profit sharing
- Tuition assistance
- Reimbursement for team members and/or their families
- Student loan assistance
- Skill development
- Clubs, activities, gifts
- Running group
- Book club
- Financial wellness program
- Game nights
- Secret Santa
- Anniversary & birthday recognition
- Fitness perks
- Gym reimbursement
- Wellbeing program that offers incentives
- Free food and drinks stocked in the office
- Use of a company car or transit allowance
- Child care assistance
- Discounts on company products and services
- Pet insurance/pet friendly offices
Why is this so important?
Offering benefits to your team members is important because it shows them you are invested in not only their overall health, but their future. Benefits can help you attract and retain your talent and differentiate your business from competitors which is important in the current job market.
From a team members’ point of view, a good benefits package increases the value they receive from their working life and contribute to their own health and that of their family. From an employer’s point of view, benefits help staff remain happy and committed with better performance, reducing the chance of them leaving to work elsewhere.
Benefits can improve your company’s bottom line by engaging employees to participate in wellbeing programs, and healthier team members mean reduced healthcare costs for your organization. Employees with fewer health risks experience fewer sick days, fewer trips to the doctor, and spend more time working in your organization, bringing their best selves to work every day.
What can we do to help?
Our team understands that there is no one-size-fits-all solution when it comes to benefit initiatives and programs. Each one of our clients is unique, with their own distinct needs, priorities and challenges.
We are able to meet you where you are with your current benefits package and evolve together. We will work with you to create, manage, and update benefit plans that are tailored to your organization and that maximize your team’s engagement.
Every day valuable benefits go unused because team members don’t understand or are overwhelmed by the volume of information. We will educate and communicate directly with your team members on an ongoing basis. We will offer clear and informed answers to your team members’ benefit questions and ensure your team members are getting the most out of their benefits.