Benefits are generally considered those non-monetary items that are offered in addition to wages and/or salaries that increase an employee's job satisfaction. Some common benefits include health insurance (either company paid or cost shared with the employee), paid vacation, holidays, and sick leave. But benefits can also include professional development allowances, child/elder care assistance, flexible work schedules, and employee discounts.
Benefits can be very costly, and therefore many businesses, especially very small businesses, struggle with what to offer. It's important to remember that not all benefits are equally valuable to all employees. If you want to know which benefits your employees really want, ask them.
Some employee benefits fall under state and/or federal labor regulations. For example, unemployment insurance, workers' compensation, and family/medical leave policies will vary depending on the size and type of your business, the number of employees you have, whether the employees are full-time or part-time, and whether the business is seasonal. Before you proceed with your plans to hire employees, you should contact the department of labor in your state to get the requirements that pertain to your business.
