Finance Smart Employee Amenities

If you truly want to have employees who are in it for the long haul, then you need to start offering some attractive amenities.

Benefits packages are great, but it takes more than a few bonuses to keep your staff around.

Here are just a few of the benefits of offering your employees amenities:

U.S. Businesses and Benefits

When it comes to employee amenities in the United States; more and more employers are leaning toward offering their workers benefits.

In fact, according to a recent study conducted by the Bureau of Labor Statistics, nearly 90% of full-time workers in the U.S. receive medical benefits through their employer.

Likewise, 74% of full-time U.S. workers receive retirement benefits through their employer. However, retirement benefits for part-time workers are much lower. Only 37% of part-time employees are offered retirement benefits through their employer.

If your company is on the fence about offering health and retirement benefits such as 401k employer match programs, there are some key advantages to consider.

Attract More Talent

With an attractive employee amenities package, your business will grab the attention of talented candidates.

The article “3 Reasons to Take Your 401K Employer Match” mentions how much employees can save through a match program. When candidates see that your business offers 401K match, it expands the talent pool.

Not only can your business use its amenities package as a marketing tool to find qualified candidates, it can also give you negotiating power.

Talented employees expect a certain salary, but you can leverage your retirement and health benefits to get the best employees at the most ideal price.

Decrease Turnover Rates

Amenities packages can help decrease employee turnover rates at your business.

Offering retirement and health benefits to your employees shows them you appreciate their service, which creates employee loyalty.

Additionally, retirement packages in particular give employees a vested interest in staying with your business. This is especially the case if your business partakes in an employer match program.

Tax Deductions

Depending on your plan and your contribution level, your business could be eligible for tax deductions through it amenities plan.

The government recognizes and awards significant tax deductions to employers who provide health and retirement plans to eligible employees.

Improved Health and Morale

Offering amenities can also help improve employee health as well as improve morale around the office. Offering healthcare benefits will help keep your employees healthy and decrease sick days.

Not only that, offering retirement benefits helps raise employee morale. When your employees know their futures are financially secure, it makes them appreciate their job that much more, which is a real morale booster.

Increased Productivity

From morale to health and wellness to decreased turnover of rates, all of the benefits above help increase productivity at your business.

Offering amenities packages will encourage your employees to work harder, get more done, and make a difference at your business.

If you're on the fence about employee amenities, consider all of the benefits above.