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Ask your experts on business insurance in Oakland, California for help building your business’ benefits package.
If you believe that you can’t afford a benefits package for your employees, then you are thinking too short term. While it’s true that a benefits package requires some financial investment, many small businesses realize that it’s worthwhile in the long run. A benefits package can help you recruit and retain some of the best employees, which is beneficial for your business. If you are ready to build a benefits package for your employees, contact your experts on business insurance in Oakland, California for assistance. Here’s what you should know before you start.
Mandatory Benefits
The law requires employers to provide certain benefits for their employees. These mandatory benefits include time off to vote, serve on a jury, and perform military service. Employers must also pay state and federal unemployment taxes, contribute to short-term disability programs in certain states, and comply with Federal Family and Medical Leave (FMLA). Additionally, employers must comply with worker’s compensation regulations and withhold taxes from their employees’ paychecks to provide retirement and disability benefits.
Standard Benefits
Surprisingly, benefits such as retirement plans, health plans, and paid vacation, holiday, or sick days are optional. However, almost all businesses offer these benefits to stay competitive. Many employers also make a point to offer time off for religious holidays and for the death of close family and friends (there are currently no laws that require employers to offer funeral leave).
It’s important to note that many employees consider health, dental, and vision plans must-have benefits. Additionally, most full-time employees expect one or two weeks of paid vacation time per year.
As you’re building your employee package, it’s important to keep these benefits in mind. Remember, creating the right benefits package for your business doesn’t have to be a stressful or budget-breaking experience. For help with your package or for assistance with your small business insurance in Oakland, California, contact the professionals at Cook, Disharoon & Greathouse, Inc. Located in Oakland and Pleasant Hill, California, we serve all your personal and commercial insurance needs.
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