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Climbin’ the Ladder: 6 Tech Companies with Incredible Professional Development Benefits For Employees

Professional development is incredibly important to today’s workforce. Employees often come in for one position already knowing what they’d like their next position to be. Millennials in the workforce are an especially ambitious bunch. Eager to move up the ladder consistently, millennials always want to feel they’re moving forward.

Companies can leverage this hunger for growth to attract a loyal, ambitious workforce. By demonstrating a commitment to each employee’s professional development through creative, intentional benefits packages, companies can build and empower their ideal workforce. Oh, and employees will be happy too! Employees will be more inclined to stay longer and truly be invested in a company that wants them to grow and succeed professionally.

As the tech industry strives to be on the cutting edge of business, innovation and workforce development, great benefits are a must.

Here’s a look at some of the edgy ways tech companies are using perks and benefits to prioritize professional development:

Yearly Conference (All-Expenses-Paid Of Course) 

WillowTree, Inc., a mobile application development company, believes professional development should be continuous. The company foots the bill for all team members to travel to one conference each year. Upon return, employees must share what they learned with the company. Additionally, weekly Lunch & Learns, conference speaking opportunities, code and design reviews, and hackathons occur frequently within the organization.

Cash For Learning Opportunities 

Everybody loves extra cash. However, customer service software company Zendesk, Inc. gives their employees extra cash with a specific purpose: to pursue external learning opportunities. Full-time employees receive $1500 annually to use towards learning pursuits like professional conferences and courses developing new technical skills.

Massive On-Site Library Complete With Librarians and Access to Skills Courses 

Analytic software company SAS supports employees with formal continued learning and development through tuition assistance and reimbursement. However, the company creates an environment that encourages continuous, informal learning as well with an on-site library! The library contains more than 10,000 books! Librarians assist employees with research projects and everyone has access to lynda.com, a website by LInkedIn with more than 6,000 online skills courses! 

Support In Finding New Positions Within The Company 

Eventbrite helps employees (called Britelings) find their next career opportunity within the company through a specially dedicated program. The program, called Inside Jobs, helps hiring managers identify talent internally for new positions. It also provides discussion templates for employees wanting to chat with their current manager and the hiring partner about a new opportunity. Furthermore, Britelings also receive weekly opportunity roundups.

Pre-paid Tuition For Non-Work Related Educational Courses 

E-commerce giant Amazon wants professional development opportunities to be accessible regardless of your level within the company. Due to this value, the company offers employees at its fulfillment and customer service centers the opportunity to take courses in non-work related fields through a program called Career Choice. The company pays 95% of the tuition for the courses. Additionally, Amazon pays 95% of textbook costs.

In-House “University” 

AT&T offers an executive-led program called AT&T University. The program focuses on leadership and management development. Housed at the company’s Dallas headquarters, Employees can take class onsite or virtual classes, earning “nanodegrees” (self-paced, fast-tracked technical creditials) or an online master of science in compeer science degree.

Regardless of whether or not your company has the resources the create an in-house “university,” you can prioritize your employees growth and professional development through benefits. Not sure how to get started? We can help! At Beni.fit, we believe benefits don’t have to be boring. Benefit packages can be an incredible way to communicate your company’s values to talent both inside and outside your company. Contact us today to see how we can partner with you to create a benefits package that aligns with the company and workforce you desire.

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6 Benefits to Keep Employees Active: Lessons from Tech Companies

Let’s face it, as technology advances, employees spend more and more time sitting at desks, using technology to do their jobs. While having a plush, cushiony chair can help make 8 hour days sitting down more comfortable, employers recognize they need to prioritize holistic wellness in their employees and encourage them to stay active.

The tech industry has been a pioneer in pushing employees to be active, coming up with creative incentives to motivate employees to get moving. From making exercise equipment incredibly accessible, to taking some of the financial burden of gym memberships, to creating health competition, technology companies are making moves to create a strong, healthy workforce.

Here’s a look at 6 creative benefits to keep employees active:

Free Gym Memberships

Asana, a San Francisco based tech company that has an application to help teams track their work, gives all employees free gym memberships at a nearby gym. One of the company’s co-founders, Dustin Moskovitz co-founded Facebook, where he focused on improving employee productivity. The man knows a thing or two about how to keep and create happy, healthy, motivated employees!

On-site Wellness Coach

Software company Kronos Incorporated makes sure their employees have no excuse not to prioritize their own wellness; they provide an on-site wellness coach. Employees can receive guidance from an expert free of charge. The coach meets one-on-one with any interesting employees to coach them on nutrition, exercise, chronic disease management, and stress management.

Corporate Sports Teams

Employees who left their dream of being a professional athlete behind in middle school get a second chance to strike, kick, and run down the court at San Francisco- based Moogsoft. Employees can join the kickball, volleyball or flag football teams, which compete in local leagues. Players can get out of the office, bond with their coworkers and break a sweat!

Online wellness challenges and online events

Nothing gets the heart racing and motivation activated like a little bit of healthy competition. Job website Indeed encourages employees to participate in fun online wellness challenges and onsite events. Participants earn points towards incentives for participating. Indeed also provides staff with free one-on-one wellness consultations and coaching webinar programs, giving workers the tools they need to reach their wellness goals.

Catering to employees who walk or bike to work

Vacation rental company HomeAway caters to employees who walk or bike to work with bike lockers, onsite showers and discounts. This simple gesture shows employees who don’t drive to work that their company will take care of them. The perks also demonstrate that the company appreciates sustainable transportation choices.

Paycheck Credits for meeting healthy standards

At Intuit Inc., it pays to be healthy. Literally. The finance software company encourages employees to stay in shape by letting healthy employees earn up to $2,470 in paycheck credits. To get this perk, employees must meet healthy weight, cholesterol and blood pressure standards. The company hosts state-of-the-art on site fitness centers. Additionally, employees can receive up to $650 a year in reimbursement for gym memberships, personal trainers or sports lessons.

Giving employees incentives to live an active lifestyle doesn’t have to break your bank. Companies of all sizes can find creative ways to take responsibility for their workforce’s health. We at Beni.fit believe benefits should be fun and fit your vision for the company. We can help you craft the perfect benefits package for your company so you can start building and retaining a productive, happy and sustainable workforce. Contact us today to get started.

Benefits

7 Amazing Benefits for Working Parents

It’s hard being a working parent. Between giving your all to your career and giving your all to your family, balance can be hard to find.

Companies can support their employees with children with a variety of creative benefits. With a few edge perks you can show your team that it’s okay to prioritize being a good parent.

The truth is, while maternity and paternity leave are wonderful, allowing new parents to give their full attention to their newborn, there’s times throughout parenthood where you wish you had some extra time to be there for your children.

These companies have found a way to offer great benefits for working parents. Be inspired!

Paid-Time Off for Kid’s School Field Trips

 Mattel, Inc. has to be devoted to the happiness of its employees’ children since, as a major toy manufacturer, generating the happiness is a major focus of the business. To that end, the company offers all employees 16 hours of paid time off for any school-related absences, such as parent-teacher conferences or accompanying gather child on a field trip.

Child-care search help, discounts for nanny placement services and priority access at Bright Horizons child care centers

Google is known for having innovative, comprehensive benefits that would make anyone drool with desire. Outside of offering extensive maternity and paternity leave, the company provides a $500 stipend for takeout meals during the first three months of parenthood. The tech giant also offers one-on-one consultations to help parents locate the best child care and discounts for nanny placement services. Not to mention, employees receive priority access to Bright Horizons child care centers throughout the country. Sound like a parents dream?

On-site after school programs and kindergarten classes

The children of Campbell Soup employees can learn their ABC’s as their mommies and daddies work with on-site kindergarten classes and after school programs. Additionally, the company offers summer programs for children.

Concierge service for errand assistance

Johnson & Johnson employees get special assistance with day-to-day tasks. They can take advantage of concierge services to help make sure they pick up their laundry and get everything on their grocery list right on time.

Bring-along-your-baby and company school buses

 Even with paid maternity leave, breastfeeding mothers may struggle to keep their babies fed while traveling for work. Patagonia allows breastfeeding mothers to bring their baby with them when they travel. They can also bring along a family member or caregiver from the company’s child-care center. And the best part? Patagonia pays or it all.

School-aged kids are on the company’s radar as well. Patagonia provides company buses to deliver kids from local schools to the company’s on-site child care center for after school care.

Mentorship Program for Moms

 Becoming a mother changes your life forever. New moms at PricewaterhouseCoopers, a professional services firm, are paired with “veteran moms” in the firm’s Mentor Moms program. Women can bond over the joys and struggles of motherhood, listen to one another, receive guidance and coping tips, and be encouraged by their fellow working-mothers.

Redefining Full-Time 

It’s not easy returning to work after maternity leave. Going from spending most of your waking hours with your baby to spending 8 or more hours at work again can be a tough transition. New mothers at U.K.-based Vodafone can reduce their 40-hour a week schedule to 30-hours a week and still earn their full time pay. This perk is available for the first six months back at work after leave.

You may feel like you don’t have the resources to offer some of these benefits to your employees. The truth is, any company, big or small, can find a creative way to offer great perks for their employees with children.

We, at Beni.fit would love to help you design the best comprehensive benefits plan for you. We believe benefits should reflect and enhance t a company’s culture and values. Visit our website today to learn more about how we can help you bring your vision, values and culture into alignment with your company’s benefits.

Benefits

Why Prioritizing Employee Happiness is a Priceless Benefit- Lessons from Tuft & Needle

Tuft & Needle, a Phoenix-based mattress retailer, knows a thing or two about creating a company people don’t want to leave. Entrepreneur.com included the company among the winners for best company culture in a large company in 2017. With just 5 years of business under it’s belt, Tuft & Needle has established itself as a leader in more ways than one, managing to keep their turnover under five percent in their first four years.

Anonymous employees on Glassdoor had this to say about working for the retailer:

There are literally no cons regarding working at Tuft & Needle. I have enjoyed legitimately everything about my experience working there.

Tuft & Needle understands that employees need to be happy in order for everything to run smoothly, and they keep their employees happy.

The company hugely focuses on benefits that improve the quality of life of the team, not just free snacks and drinks in order to keep people longer hours.

While no company is perfect, one things seems to be certain at Tuft & Needle: employees are happy.

Benefits are a way to, quite literally, make your employees happy. Perhaps your bottom line doesn’t allow you to pay everyone their dream salary of millions of dollars. Even so, you can prioritize your employees overall happiness with creative work culture benefits.

Need some inspiration? Here’s a look at some of the nontraditional “benefits” that make Tuft & Needle a great place to work:

Free Mattress

 What better way to allow your employees to connect with your product or service than with a free gift! All Tuft & Needle employees receive a free mattress from the company. (Employees who get a good night’s sleep work better, right?)

A company retreat that feels more like vacation than work

 For the past two years, all Tuft & Needle employees have enjoyed a company retreat on the banks of Lake Powell in Arizona. However, instead of PowerPoint Presentation and training seminars, employees get to move about freely as there is no set schedule or planned activities, other than dinner.

“Without any planning, incredible opportunities for trust-building occur,” said company COO Evan Maridou in an interview with Entrepreneur.

Monthly Company Events

 Tuft & Needle truly cares about making sure their employees enjoy one another and enjoy working together. They care about this so much so that they’ve dedicated an entire team to it: The Team Experience team plans bonding experiences for employees. One regular event, Tea Time, occurs every Monday when everyone gathers together to munch on snacks and mingle.

Required Minimum 25-Day Vacation Policy

 Tuft & Needle requires its employees to take at least 25 mandatory paid vacation days per year. There’s nothing like showing employees you care about work-life balance by requiring them to take off, right?

Tuft & Needles success is proof that offering competitive employee benefits and perks creates happier, more loyal employees. You can create your own customized plan to make your company a great place to work. There’s no one-size-fits-all answer. But, we at Beni.fit are here to help you craft your perfect plan. Visit our website today to see how we can help you design the best comprehensive benefits and perks plan for your company.

 

Benefits

Seven Breweries Doing Big Things With Employee Benefits

Attention beer-enthusiasts: There’s a trend a-brewin’ among breweries everywhere. Working in an environment where you can practically smell the bittery hops of mouth-watering craft beer from your desk (or bar) sounds like paradise to some.

Though it may seem like working for a brewery is a perk in and of itself, breweries across the world recognize that offering a competitive benefits package is essential to creating happy, loyal employees.

Breweries have hopped onto a trend typically associated with Silicon-Valley tech giants like Facebook and Google.

They too are offering non-traditional benefits that get right to the core of every employee’s dream: to have fun at work.

New “work-styles”, or work lifestyles, are creating a new kind of work culture, one where fun, work, incentives, compensation, activities, sustainability, family and community come together as one.

Phoenix is a growing hub for breweries, making a name for itself in the beer-world with successful breweries such as Chandler’s SanTan Brewing Company, whose beers have won national and statewide awards. Yelp listed Scottsdale’s Goldwater Brewing Co. and Phoenix’s Helio Basin Brewing Co. among the best local breweries in the U.S. in a feature for Travel + Leisure.

With this industry growth comes the need to hire and retain the best employees possible. There’s nothing like bringing the best out of someone with an ice-cold beer and some bomb, burp-inducing benefits.

Here’s a look at some of the innovative, head-tilting benefits breweries are giving their employees:

Name a Beer and Fun Sock Friday and Extensive Taste Tests

California-based Barrel Brothers Brewing Company keeps their atmosphere fresh and thrilling for their employees by allowing everyone to name a beer. Among some of the employee-named beers at Barrel Brothers? Saturday Morning Cartoons, Dad Pants, Suck It Trebek!, Dark Sarcasm, Naughty Hops, and Leather Bound Books (a barrel aged brown sour). This perk helps employees feel personally connected to the beers, creating brand and company loyalty.

The company also has Fun Sock Fridays, giving its team the chance to let loose and express their personality with wild foot-coverings. All employees also get up-close-and-personal with all of the beers, sensory and blind taste testing of all new beers.

“Pawternity” Leave

They say having a dog is like having a child. All of Scotland-based BrewDog‘s more than 1,000 employees receive one week of paid leave when they welcome a new puppy into their lives. More than 50 “office dogs” take-on the work week with their owners as well! The company said it has received more employment appellations since announcing the “mutternity” leave perk.

Softball leagues, company hikes, camping trips and a trip to Europe

Employees at Odell Brewing Company can quench their thirst for adventure through company hikes, camping trips and softball leagues. They can also look forward to an all expense paid trip to Europe after working for the company for five years.

Life and financial wellness counseling

Bell’s Inspired Brewing, which is based out of Michigan, encourages employees to live their best lives by paying for life and financial wellness counseling. Employees who are satisfied, secure and happy with other areas of their lives are more likely to bring positive energy to work!

On-site wellness amenities (oh, and a case of beer with each paycheck!)

Sierra Nevada Brewing Company prioritizes holistic employee wellness by offering on-site massage and acupuncture, on-site yoga classes and an on-site medical clinic. Employees at the California-based brewery also walk away with one case of beer each payday. They get first dibs on tickets for brewery events too!

A Trip to Belgium and a Company Bike and company ownership

New Belgium Brewing Company is an employee-owned company based out of Colorado. Employees receive an all expense paid trip to Belgium after five years with the company. But, that’s not all. Employees get to take on Belgium for one week with their other five-year coworkers! On their one year work-anniversary, employees receive a branded Fat Tire Cruiser Bike, a tradition that’s been going strong for 18 years. “Fat Tire” is the name of the brewery’s flagship beer.

Any company can have amazing, enticing benefits for their employees. Benefits shouldn’t be boring. They should enhance and celebrate the company culture and values you’ve worked so hard to establish.

We at Beni.fit are passionate about bringing employee benefits into alignment with company culture and purpose. Visit our website to learn more about how we can help your company and your employees thrive.

Benefits

Top Creative Benefits To Offer Employees

Top Creative Benefits To Offer Employees

Smart companies know that investing in employee benefits is integral to their success.

Offering employees standard, status-quo benefits is no longer a way to attract or retain your high-performing employees. Not only do companies need to get creative about the benefits they are offering, but also about the way that benefits are selected. Rather than the standard, one-size-fits-all approach to benefits, companies should tailor benefits to fit employees needs, interests and lifestyles. The breakdown of “creative” benefits is in offering non-traditional benefits that speak to employee needs and positive outcomes.

Details here:

Encourage Play

Regardless of what industry you’re in, encouraging a healthy amount of play for employees is an important aspect of the benefits package that you offer.

Many companies are integrating their company values or product into providing downtime for employees to enough life outside of their policies. For examples, a ski company in Denver gives employees “snow days,” where they are free to take the day off and head to the slopes with their company-purchased season ski passes. As companies continue to understand the importance of having happy employees that do their best work, integrating and encouraging play within the workplace (and work hours) will become an increasingly popular (and advantageous) benefit to offer.  

Flexible Work

Offering flexible work schedules and locations is not necessary a “new” benefit to offer, but is one that is gaining traction as an extremely popular benefit for employees and a beneficial one for companies. Allowing employees to adapt their work schedules to fit their lifestyle (kids, sports, energy levels, etc.) as well as allowing them to flexibility to work where they do their best work, is a radical structure that is slowly becoming commonplace.

A few companies have implemented a practice called “Duvet Days,” which allows employees to work from home last minute for whatever reason they decide. The idea behind this practice is to eliminate the amount of sick days employees take (either for illness or undisclosed other reasons) and promote flexibility of place for employees.

Volunteer Hours

Paid time to volunteer is a surprisingly high priority for employees of this generation, with 84 percent of millennials surveyed saying that making a positive difference in the world was more important than professional recognition.  

Encouraging employees to volunteer is a double benefit; employees feel their needs are being addressed while positively impacting your company’s reputation. At the same time, giving back is proven to boost overall happiness. Any smart business knows that happy employees are the key to a company’s success.

Complete Wellness

You can’t afford not to create vibrant, healthy work environments. Serious health problems seriously cost companies. Today’s workplace wellness goes beyond offering healthy snacks or starting a “steps” competition at work. Workplace wellness should target each individual employee’s wellness as a whole. A one-size-fits-all approach to wellness is no longer acceptable for employees or for promoting the potential of your workplace. Some great ways to implement complete wellness in your workplace is through:

  • Encourage short breaks throughout the day
  • Bring nature into the office
  • Give employees time off
  • Encourage healthy lifestyle choices like
    • Self Reflection
    • Sleep
    • Nutrition
    • Movement
Travel opportunities

Encouraging employees to travel extends beyond giving a generous PTO allowance, and is an innovative way to spark personal development. Exploring new places, cultures and experiences has generally shown to boost creativity and bring fresh perspectives back to the office. For a creative benefit that also promotes creativity of your team, encourage employees to travel. 

Offering creative benefits that speak to employees’ needs, interests and lifestyles is one of the best ways you can keep the talent you have, attract the talent you want, and improve the workplace culture of your company. Benefits work best when they’re aligned to company culture and growth goals. Learn more at beni.fit.

Benefits

5 Examples of Employee Benefits That Align With Company Purpose

5 Examples of Employee Benefits That Align With Company Purpose

Employees are familiar with the mainstream benefits every company is expected to have.

Health care. Vacation. Performance bonus. Paid sick days. 401k. You know, the standard benefits.

What about the employee benefits that align with a company’s purpose? What are some examples of companies who are offering benefits to their employees that support and accelerate their main reason for being in business?

Here are five examples of employee benefits that align with company purpose.

AirBnb

examples of employee benefits

Purpose: Belong Anywhere.

How does AirBnb back up it’s company mission to help create a world where you can belong anywhere and where people can live a place, instead of just travelling to it?

Employee Benefit: Employees receive an annual stipend of $2,000 to travel and stay in an Airbnb listing anywhere in the world.

Why We Love This Employee Benefit: What better benefit than to enjoy your own company product?

What Can Your Company Do: Ask yourself the question, “How can employees use the products and services we offer?”

REI

employee benefits company purpose

Purpose: Inspire, educate and outfit for a lifetime of outdoor adventure and stewardship.

How does REI support it’s purpose through employee benefits? Two words: Yay Days. With Yay Days, REI employees get paid time to go out and play.

Employee Benefit: Every REI employee gets two Yay Days a year — each one a chance to try something new, challenge themselves in a favorite activity, or work on an outdoor stewardship project. Yay Days help REI employees reconnect with the outdoors and prepare them to deliver great knowledge and service to customers. In the first Yay Day period, nearly 75% of all REI employees took advantage and got outside, doing everything from building trails to running marathons.

Why We Love This Employee Benefit: It wouldn’t be right to sell outdoor products and not get to experience the outdoors.

What Can Your Company Do: Ask yourself the question, “How can employees experience what we stand for?”

Burton

employee benefit days

Purpose: To innovate the sport of snowboarding and pioneer new ideas and ideals.

REI gives Yay Days. Burton? Snow Days.

Employee Benefit: Employees receive season ski passes and “snow days” to hit the slopes after a big snowfall.

Why We Love This Employee Benefit: Who wants to fight through the snow to get to work when your company sells snowboards you can use instead?

What Can Your Company Do: What membership perks support your purpose?

Twitter

Purpose: To give everyone the power to create and share ideas and information instantly, without barriers.

Twitter is well-known for top of the line employee perks that the rest of us regular employers wouldn’t imagine providing. I don’t know about you, but perks like three catered meals a day or on-site acupuncture probably aren’t going to be implemented anytime soon at Beni.fit. However, Twitter does offer one lesser-known perk that supports it’s mission.

Employee Benefit: Improv classes.

Why We Love This Employee Benefit: Isn’t Twitter all about improv?

What Can Your Company Do: If there was a skill your employees had that would make them slightly better at their job, what could you offer to hone that skill?

Walt Disney Company

Purpose: To be one of the world’s leading producers and providers of entertainment and information.

Employee Benefit: Employees, their friends, and family enjoy the “Happiest Place on Earth” as much as their visitors by offering free admission to its parks.

Why We Love This Employee Benefit: Have you seen how much it costs to get into Disneyland?

What Can Your Company Do: Are there elements of your products and services that employees can utilize at little to no cost to you?

What examples of employee benefits do you have that aligns with a company purpose? Share your ideas with us and we’ll also include them in our post.

We believe that when humans thrive, companies prosper. Learn more at Beni.fit.

Benefits

How Technology Is Changing Benefits

How Technology Is Changing Benefits

Many businesses still manage human resources information manually, using paper records that are kept in file folders, or in some cases, scanned and kept in a file on a computer. When it comes time to look for someone’s file or gather data, there is no easy way to access this information. Further, the person in charge of HR usually finds themselves spending too much time on mundane paperwork. Time that could be spent focusing on strategic initiatives and finding ways to improve company culture.

Technology and smartphones have revolutionized more than our personal lives — they are redefining business as we know it. Technology has also made it easier for employees to understand the benefits that they are receiving, promoting both loyalty to the company as well as maximizing the benefits they utilize.

With the benefits that technology provides both the HR department and the employee engagement and understanding of benefits, let’s take a look at how technology is changing benefits.

Accessibility  

It is extremely important that employees know how their benefits are allocated. For example, employees should have access to information like the amount they are paying in taxes and whether or not contributions are being made to a 401(K) account on their behalf. Employees want to see their benefit information without a delay or having to jump through hoops. In the past, this likely meant a lot of work for HR departments.

With the increase in technology, there are now several apps that keep things simple by automating recordkeeping and data organization. This provides employees the convenience of being able to explore their data online whenever they want. This is truly a win-win for everyone as employees have their information at their fingertips and the HR team’s burden of gathering, updating and monitoring this information is reduced.

Efficiency & Accuracy

Making errors is part of human nature. But when it comes to healthcare and benefits, it can have major consequences.

Data entry mistakes on behalf of a benefits administrator can result in employees being enrolled in the wrong health plan or not being enrolled at all. This could create a mess for everyone involved — employees and their families, payroll, insurance carriers, etc.

“Technology is a powerful tool in our everyday lives and especially for HR leaders, with the right solution offering countless opportunities for increased accuracy and efficiency,” says Martin Mucci, president and CEO of Paychex, a payroll, HR, retirement and insurance services provider.

Meaningful Engagement

Most HR professionals don’t value their job for the paperwork and reports. They do it because they value helping and engaging with people. One area that employees desperately need help and communication with is their benefits and healthcare. To avoid confusing communication that could lead to poor decisions at enrollment time, employers need a simple and engaging communication plan that can help employees with their benefits. That’s where technology comes into play.

Thanks to technology, organizations can extend self-service systems directly to employees via the internet. These online communication systems can identify specific information an individual needs. In addition, they can send tailored messages that resonate on a personal level. This helps drive more meaningful engagement and improves confidence when it comes to decisions about benefits.

Overall, there is no doubt that benefits management has gotten harder and the stakes are higher than ever. Fortunately, technology helps improve the accessibility to benefits, the efficiency and accuracy of managing benefits and employee engagement. Because of technology, benefits are more than a budget line item — it is a key part of long-term organizational success.

How does technology improve your ability to provide and explain benefits to your employees?  Share your ideas with us, and we’ll also include them in our post. We believe that when humans thrive, companies prosper. Learn more at Beni.fit.

Benefits

Required vs. Voluntary Benefits: What To Know

Required vs. Voluntary Benefits: What To Know

Benefits are a typically overwhelming topic that many executives would prefer to avoid, but are one of the most important aspects in attracting and retaining top talent. Learning and understanding the ins and outs of the benefits that work for your company takes time and knowing where to go for the right resources. Here is a quick breakdown of required vs. voluntary benefits, and what you need to know about each. Providing excellent benefits is extremely important to the success of your business. Learn more below:

Required Benefits

Required Benefits are provided by the state or federal government, and are mandatory under law.  Here are the main Required Benefits and how they can be distinguished from voluntary benefits:

Social security

Social security tax and withholding is known as a payroll tax, meaning the employer will deduct half of the tax from their employee’s paycheck, and contribute the other half of the tax. These transactions are reflected in the W2 form and paychecks, and sent to the IRS.

Workers compensation

Workers compensation protects employees who might miss work because of illness or injury they receive while executing duties at their job. This compensation reimburses the employees for their trouble, and also covers any possible medical bills.

Unemployment insurance

If an employee is laid off due to company circumstances outside of their culture, such as downsizing the company, rebranding, etc., they can apply for unemployment insurance. Once signed up, they can receive income for up to 26 weeks.

Family and medical leave

The Family and Medical Leave Act requires companies with 50 employees or more to provide workers with job-protected and unpaid leave for specific medical and family issues. A few qualified medical and family reasons include: family military leave, pregnancy, adoption, and personal or family illness.

Voluntary Benefits

Voluntary benefits are not required. These benefits are decided on by the individual businesses and corporations that can outline specifically what and how much of the voluntary benefits they offer. They are often paid through employees’ payroll deferral. Here are some of the most popular voluntary benefits companies offer:

Dental Insurance

Approximately 80 percent of employers offer dental insurance. Dental care directly affects other parts of the employee’s health, including potential for diabetes, blindness, heart disease, etc. Therefore, it is in the employer’s best interest to help maintain employee’s dental care.

Vision Insurance

Vision coverage is also very important to overall health. Employers recognize that employees may need healthy eyesight in their field, and to help maintain that as much as possible. Approximately 84 percent of employers provide vision voluntary benefits.

Accident Insurance

Many companies offer voluntary accident insurance as a way to offset potential medical expenses that may come after an accident occurs. This insurance is often implemented with the idea “better safe than sorry,” and corporations are slowly moving to add this to their voluntary benefits.

Life Insurance

Approximately 94 percent of companies surveyed offer voluntary life insurance. Life insurance provides beneficiary funds in case the employer dies. Typically, an employee will pay a monthly premium in order to cover life insurance.

Disability

According to the Social Security Administration, approximately 30 percent of people will suffer from a disability of three months or longer during their working life. Disability insurance insures an employee’s earned income in case a disability makes it more difficult for a worker to complete their tasks.
Create an environment where your people thrive and your business performance skyrockets. We’d love to hear what innovative benefits you are providing to your workforce. Share your ideas with us, and we’ll include them in our post. When humans thrive, companies prosper. Learn more at Beni.fit.

Benefits

Why Tailoring Benefits To Your Employees Is Better

Why Tailoring Benefits To Your Employees Is Better

If you haven’t already heard: the one-size-fits-all approach to employee benefits and wellness is a quickly dying approach to employee benefits that does not yield best results, for employee or employer.

Benefits management is not just an annual event. It starts with knowing what’s important to your people and requires a strategy that aligns with these values as well as company goals. Providing choice and resources for your entire employee population is a trend that will continue in the future. So adapting your approach to creating a benefit plan is imperative. Read More