It’s not always clear whether offering employee benefits will be necessary, and this can leave people feeling uncertain about where to turn. However, if you need advice or guidance on the different types of benefits and whether these are necessary, our experts can help. So, don’t leave this to chance; read on to get an insight into employee benefits, or contact an expert here at our eBen Benefits team to learn more. We’re here to help!
When Employee Benefits Are Necessary
While employee benefits can often be a great way for your brand to show its dedication to its staff, there’s more to employee benefits than just this. And, while some benefits will be voluntary, others are mandatory for businesses to offer - and knowing which benefits you have to offer by federal and state law is vital.
If you fail to provide your staff with these benefits when they are required, you may end up facing penalties. In line with this, ensuring you know which employee benefits are compulsory is vital. Fortunately, this is where professional employee benefits consulting services come into play.
Some of the main federally required benefits for US businesses include (but may not be limited to):
# Social Security and Medicare Cover
# Workers’ compensation
# Unemployment insurance
# Minimum wage pay
# Health and disability insurance
# COBRA
# FMLA
# FICA
These are just a few examples of the different types of benefits that businesses typically need to offer their full-time staff. However, the exact requirement will vary from state to state, firm to firm, and even on an individual employee basis. For example, you may be able to provide fewer benefits if your staff are part-time workers.
As such, it’s still worth reaching out to a professional advisory team to see which benefits are required in your case. It’s a simple change, but it could help protect your firm from penalties. But remember: nothing is stopping you from going above and beyond. And, at the end of the day, the more benefits you can offer, the happier your staff will often be.
Get Professional Support For Your Business
If you need professional support for your business’s employee benefits, make sure to reach out to an expert team as soon as possible. Indeed, while you could offer your staff many different types of benefits, ensuring you’ve met at least the minimum requirements is critical. Luckily, this is where we can help - so contact us today to learn more about how we can help your business find the right employee benefits approach.
