Business

Perks and Benefits Every Company Should Provide

Working for long hours has become a part of the daily grind. Not only are employees expected to do more in less time, but their employers also want them to deliver high-quality work. With how competitive the labor market is nowadays, many employees jump from one job to the other in a short period. To combat this, employers have started introducing more benefits and perks to convince their employees of sticking with their businesses. Some of these benefits are required by the law, and others are just extra advantages employers can give to their workers. Whether you are an employee who wants to know their rights or a boss who wants to provide a better work environment, check out the next few points to gain more insight.

perks benefits company

Core Benefits

These are benefits all employees expect from their companies. To create a positive work environment, employers must provide the following:

  • Health Insurance

The costs of medical care have skyrocketed recently. To attract more employees, many companies have opted to provide them with health insurance. Although it is not required by law, if a company has less than 50 employees, having health insurance gives workers an extra safety net. Providing workers with health, vision, and dental insurance is a sure-fire way to spark their creativity and enhance their work quality.

  • Workers’ Compensation

In the same vein, workers expect to work in a safe environment that is free of any potential hazards. Employers shoulder the responsibility of making sure that their work premises are safe. Accordingly, in case any accident happens, the company must reimburse its employees. This is where workers’ compensation comes into play. Most businesses are required to sign up for it. Thus, according to the workers compensation guidelines, the no-fault program gets activated whenever a worker is injured at their work premises. Although it provides medical benefits and compensation for lost wages in all states, the process might differ a bit from one state to another. In South Carolina, for instance, the first step is informing the employer of the injury. Then, the injured worker needs to fill out the insurance paperwork to contact the workers’ compensation commission. Generally, workers have up to 2 years to file for a claim.

workers compensation

  • Family and Sick Leave

Welcoming a newborn can be a scary experience, so employers are required to give parental leave to their workers. While the law does not say anything about giving employees paid leave, some employers like to offer it as a perk to encourage their workers to stay. By the same token, companies are required to offer sick leave. However, if they are unpaid, many employees will choose to tough it out and come to work. Logically, that does not help anyone because the workers’ productivity will be low, and they might even spread their illness. To solve this, some companies offer paid sick leave to persuade employees to take some time off to recuperate.

Extra Perks

These refer to the extra services companies can provide to make their employees more comfortable at work. They can include:

  • Retirement Plans

Although many companies would love to have their employees forever, retirement is a natural element of the work. Many workers do not have enough savings to live comfortably after their retirement. Therefore, some employers like to give them counsel on how to save more and manage their finances when the time comes.

  • Flexible Schedules

Due to the hectic nature of modern life, many employees have to compromise when it comes to family time. Respectable companies allow their workers to have flexible schedules to fit their circumstances and have a healthy life/work balance. Moreover, more employers are now giving their employees the chance to work from home. It is a win-win situation for everyone, as managers get to decrease their operational costs, and workers become less stressed.

  • Health Programs

Traditional health insurance is not enough to make sure that workers stay in tip-top shape. To ensure the wellness of their personnel, some businesses offer gym memberships and healthy food during work. Also, having a common cafeteria or lunch area where healthy snacks are served can go a long way towards enhancing relationships between employees, thus increasing their loyalty to the company.

A happy employee is a productive one. To gain a competitive edge, employers are providing their workers with more benefits and perks to strengthen their loyalty. Still, giving workers the bare minimum is not enough anymore, so many companies are striving to offer the best work environment. By understanding the above points, you now know what to look for in a job, and you get to step up your game as an employer to attract more workers.

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