One of the main things employers can offer workers to both attract them and retain them are employee benefits. What benefits you are offered can vary drastically between companies so this article will cover most of the main ones that companies of today offer.
Almost all larger companies will offer their employees some form of medical insurance. This type of insurance covers scheduled visits to the doctor or clinic, emergency room visits, prescriptions, and even some types of surgeries. Depending on the plan and the employer, there may or may not be a co-pay amount due each time the insurance is used.
One insurance that is not commonly offered but still is by some is disability insurance. This is a form of insurance which replaces the lost income if the employee can no longer work either due to injury or severe illness. It can come in either a long-term or a short-term type of policy.
Retirement benefits are basically monies paid to the worker after they retire from the company. They are also often called a pension plan. While these are becoming less and less common due to their cost but they are still relatively popular among those who have union jobs. The beneftit is very lucrative to employees because it guarantees them an income even after they no longer work for the company.
Vacation pay is another very popular benefit to offer employees. It gaurantees them a pre-determined length of time off while still being payed their wages or salary. The amount of time off is usually determined by their length of time working at the company.
To learn more about employee benefits, make sure to talk to an employee benefits administration florida and they can explain these and many other employee benefits to you.
Veeramachineni Lalitha
I am Finance Content Writer. I write Personal Finance, banking, investment, and insurance related content for top clients including Kotak Mahindra Bank, Edelweiss, ICICI BANK and IDFC FIRST Bank. My experience details : Linkedin