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Starting and managing your own small business can be the most fulfilling experience, but it comes with several responsibilities, including providing certain employee benefits. In fact, according to a survey by Glassdoor, 57% of job seekers report benefits and perks being among their top considerations when deciding whether to accept a job offer.
Employee benefits can feel expensive and complex. So if your business is on a tight budget, you may wonder what minimum employee benefits you must provide.
If you’re a small business owner who can’t afford to offer a comprehensive benefits package, these are the benefits you must provide.
Several other employee benefits become mandatory once a business has 50 or more full-time employees.
Several benefits aren’t required but are culturally expected for full-time professional jobs in the U.S. For example, most full-time employees presume employers will make at least some contribution to their health insurance coverage.
Other culturally expected benefits include:
While most states don’t require these benefits, companies that choose to offer them will likely have an easier time attracting talented employees!
As a small business owner, providing a comprehensive employee benefits package can seem out of reach. However, you may be surprised to find that offering some form of these benefits isn’t as complex and expensive as you may think! Plus, employee benefits aren’t just about treating employees well—benefits can increase productivity, engagement, and loyalty, leading to long-term business success!
Please reach out if you need help determining which benefits you need to offer and how to afford them.
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