Mix up your fringe benefits to attract and retain staff

October 9, 2016

Fringe benefits can be a powerful tool for attracting and retaining staff. If you have an age-diverse workforce, providing the right mix of benefits can help you achieve your goal. Here are suggestions.

Flexible scheduling. Flexibility benefits include variable work schedules, paid time-off banks, and performance-based pay and bonuses. Telecommuting may also be an option.

Financial health. Communicating your company's benefits, automatic enrollment in retirement plans, and assistance with student loans can keep employees from getting sidetracked with financial concerns.

Physical health. A telemedicine benefit that allows employees to obtain medical advice for common ailments via live video access to a medical professional can reduce sick time taken for in-person doctor visits.

"Voluntary" insurance. Insurance that can extend regular medical coverage, but that you're not required to provide, such as life, dental, vision, accident, disability, and critical illness, can help employees cope with unexpected costs. You may also want to investigate supplemental "gap" insurance if the health policy you offer has a high deductible.

Contact us about tax implications before you initiate changes to your benefit program. We'll help you determine what options offer the most value for you and your employees.

Keywords: benefits
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