Additionally, a benefits package could persuade your current employees to stick around for a while. You go through hoops and hurdles to recruit and hire amazing talent. But what’s the point if you can’t retain them?
This isn’t an exhaustive list but it should give you a general overview of what a “standard” benefits package might look like.
Paid vacation and sick leave
Time off for voting, jury duty, and military duty
Extended maternity and paternity leave
Vision and/or dental care
By staying competitive and improving your company culture, you may be able to decrease your turnover rate.
And that’s only the beginning. Some companies offer some really unique, truly interesting benefits. Here are just a few examples to help you think outside the box. After all, you might not be able to match a 401K yet, but you can always provide a never-ending cereal bar.
Incentives like the chart above are not required by law, but can be given at your company’s discretion. The government requires you to stay compliant with the Family and Medical Leave Act (FMLA), which gives employees the right to leave their job for 12 weeks out of a 12-month period for any of the following reasons. Depending on the employee and the situation, this leave may or may not be paid. But an employee, by law, gets time off for:
The birth and/or care of a child
To care of an immediate family member who has a serious health condition
To care for their own serious health condition
If your business grows to employee 50 full-time employees, you’ll want to talk to a lawyer about your compliance with the Affordable Care Act (or ACA).
Give your employees the benefit of legal protection.