Tag Archives: employee benefits

How Do I Know If I Provide Competitive Employee Benefits?

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If attracting new employees is a challenge, one aspect of your business that you should review is the employee benefits you provide. While salary or hourly rate is a critical component of most employee benefits packages, the rest of your package and the flexibility offered to employees can significantly impact your ability to hire the best people available. If you have questions about employee benefits insurance, contact the Saucon Insurance Agency, serving Bethlehem, PA.

Understanding Employee Benefit Packages

Before assessing the competitiveness of your employee benefits, let’s confirm the primary elements of those packages. Generally, employee benefits include:

  • Salaries, wages, and tips
  • Health, dental, and vision insurance
  • Paid vacations and holidays
  • Educational assistance
  • Retirement benefits, such as a 401k
  • Wellness or lifestyle benefits (work-from-home, flexible hours, and mental or physical health assistance)

Many other benefits may apply based on location, workforce, and other factors.

Comparing Employee Benefit Packages

You have low or no-cost tools available to assess the competitiveness of your employee benefits package, including:

  • Ask Employees and Prospective Hires: Ask your employees about their preferences and needs, and do the same when interviewing potential employees, especially those who choose not to join your team.
  • Compare to Peers: Compare notes with others at industry events, local service organizations, or Chamber of Commerce events. Your suppliers can provide you with helpful information as well.
  • Employee Benefits Consultants: Discuss your situation with experts in the employee benefits industry.

Working with the Saucon Insurance Agency

The Saucon Insurance Agency serves the personal and business insurance needs of those in the Bethlehem, PA, area. Let us create an insurance plan to protect your business. Call us today at (610) 868-1800 or stop in to discuss your insurance options.