Employers often give employees benefits to help them settle into new positions. Many employees think that they deserve benefits like vacation time, laptops, pension plans, Insurance, and more. Although many employers provide these perks and amenities, there is no obligation to provide anything to your employees beyond these legally required benefits:
- Workers Compensation: Employees get insurance benefits when they become ill or injured at work. The Department of Labor created compensation programs, however, keep in mind that each state has its own regulations.
- Unemployment insurance: Unemployment programs pay benefits to workers who have lost their jobs and meet the program’s requirements. Every state has its own eligibility requirements.
- Social Security Tax Benefits: You and employees will pay into the system to pay for Social Security Benefits.
- Medical Leave: The Family and Medical Leave Act (FMLA) provides eligible employees with up to 12 weeks of unpaid leave per year. This leave protects the employee from losing their job while handling family matters.
- COBRA: COBRA gives 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 of time under certain circumstances.
Why give employees more?
Although you are not obligated, giving employees perks is good for morale, your reputation, and business. You can show future employees that you care about their well-being as well as their future. Benefit packages often times increase employee retention rates which saves money in the long run. Therefore going the extra mile to make employees feel valued is worth thinking about.
Here are some benefits that you can provide for your employees
- Time off: The Federal Government does not require sick leave or vacation leave, but It’s a good idea to give your employees time off. Work is important, but self-care is equally as important. This will keep your employees well rested so they can perform their best when on the job.
- Health Insurance Coverage: Dental and Medical coverage is something that a lot of people look for when finding jobs, especially families and young professionals.
- Flexible Schedules: Most employees work straight 9-hour shifts, and this may work in some places, but it’s not always necessary. Companies like Thumbtack, Urban Airship, Timesheets.com, and others understand a work/life balance. Your employees will have the ability to work when they need to and can suit their personal needs outside of work.
- Electronics: Certain jobs require employees to use computers, tablets, and other devices. Some employees might not have these devices or they may not be up-to-date. Whatever the case is, it’s a good idea to invest in buying these for your employees so they can work efficiently.
- Educational benefits: Many young professionals are looking for positions that provide free or partially-covered education. Helping them with their education will add to your employee’s skills and knowledge. And of course which in turn can help your business become more successful.
Benefits are good for both your business and your employees, so you may want to consider creating a benefits package. When you give your employees benefits, you will want to make sure that you accurately keep track of everything that you’re giving them. As an employer, it’s important that you have audits with an HR professional. You will want to make sure that your are compliant with local law. Additionally, if you are going to provide time off, you will want to make sure that all employee records are accurate and stored in an audit trail. Timesheets.com provides an accurate and easy way to track employee time, time off, and other such benefits.