How can I design attractive benefits packages for employees?

1.Learn the industry standards

2.Seek feedback from current and exiting employees

3.Work with a benefits consultant

4.Make sure ACA (Affordable Care Act) requirements are met for essential employee Benefits

5.Communicating employee benefits in compensation offerings

 

It is very important for any Employer to attract the talent. Designing your Company benefits package for the Employees you must have to have knowledge of your competitors benefits packages & take advanctage of other benefits like, Bounus, Travelling Allownces, Commissions etc.

Bench marking is a tool for designing the company benefits packages, according to the Market trends & according to your company brand name.

 

First of all, you need to analyze the market, and what are the offers of other competitors, so you can know what is the best available to attract the efficient staff, this will help you to have employer branding

These are a few things which we usually include as a part of benefits package

1. Private health insurance, annual bonus in cash or vouchers,relocation package
2. Work-Life benefits such as flexible hours, travel allowance, gym memberships, volunteer programs, sports teams and family leave 

 

 

Bwfore we design attractive benifits we need to understanding thee motivation factors of employees . This can be done by conducting the employee satisfaction survey at the company. Based on the outcome we need to identify tje key areas or factors that are likely to motivate majority of the employees( we need to keep in mind that we cannot satisfy all the employees) for eg salary, class of insurance , perks like housing or car etc . Post identification we should design our benifits and compensation packages to employees