When you’re a midsize business it can be difficult to decide what benefits you should be providing your employees. It’s time to start offering more benefits to retain and care for your team, but you’re not looking to break the bank and offer on-site massages and barber services. Luckily there’s a lot of great benefit options available for businesses in this awkward size.
We’ll break down where you should be focusing when it comes to benefits plans. Below we’ll cover 5 of the most sought after benefits you should consider for your employees as well as a few duds you can skip.
But first, is your company a mid-size business?
Is My Company a Midsize Business?
A Midsize Business for the purposes of this article is a business with over 50 employees and an annual revenue anywhere between $10 million and $1 Billion. Regardless of revenue, once your organization has 50 employees you are required by law to provide Health Coverage to your full time employees.
Now that we’ve covered that, here are some of the most important benefits for employees.
Dental Insurance
Health related benefits are one of the most important benefits to employees. Dental insurance is second only to health insurance. You can really step up your benefits game by offering Dental insurance, since not all companies do, and it’s something that takes a tremendous load off of employees.
Mobile Dental Service
Hiring a mobile dental service like us to come treat your employees at work is an amazing benefit that employees just love.
80% of employees haven’t been to the dentist in 2 years and have untreated cavities. Here at Jet Dental we offer mobile pop-up dental clinics by bringing our dentists and hygienists to your office.
Things we can treat at your office include:
- oral x-rays
- preventive cleaning
- visit with dentist
- cavity fillings
- scaling and root planing
- corrective services – Invisalign
The best part is that there’s no cost to any of these services since we get paid by your dental insurance provider. All your employees can have their work done fast and free without even leaving work. Want to learn more? Give us a call or an email!
Health Insurance
The most important benefit you can provide your employees is Health Insurance. Having good health insurance, dental insurance, and vision insurance that cover as much as possible are the biggest considerations that job seekers look at when evaluating whether or not to take the job.
Prioritizing great health insurance is the best thing you can do when making your benefits plan. If having great health insurance is the only benefit you do, but you pay all or most of it you’ll be ahead of the game.
Remote Work Options
Since the lockdowns in 2020 more people than ever have had a taste of what it’s like to work remotely, and they fell in love with it. Employees love the comfort of home, the ability to travel, and to get things done without taking a sick day, and saving time on their commute. These days, companies that lack remote-work options are seen as being old-fashioned and out of touch with the times.
The average commute time in America is 27.1 minutes one way according to the US Census. That comes out to almost 5 hours a week or 226 hours a year if you work 5 days a week 50 weeks in the year that your employees are likely spending just traveling to and from your company.
If a position is possible to do remotely, offering remote work will be an amazing benefit for your employees. It doesn’t have to be fully remote either, even just 1 day a week can be an exciting upgrade.
Flexible Schedule
After Health, Dental, and Vision insurance, having a flexible schedule is the next most sought-after benefit for employees. Most employees want to have control over their time wherever possible, and by giving them that you’re showing them that you value the time they are spending working for you.
The best part of this is that it doesn’t cost anything. By guaranteeing that employees will have some control over their work schedule you’re helping them to feel empowered and less stressed.
Paid Parental Leave
Paying employees for time that they aren’t at work doesn’t seem like good business practice on the surface, but paid parental leave is an amazing way to show your employees that you value their out-of-work life.
Paid maternity leave is especially important for women, and your policy on maternity leave may affect the women you’re able to hire. It also will affect how likely they are to return to your company after having a child.
Paid paternity leave is also a benefit that will show the men at your company that you value them. It’s in your best interest as an employer for your employees to succeed outside of work in their homes as well. Happy, healthy employees will work harder and smarter when they’re on the clock.
Benefits to Skip
Here are a few benefits that employees don’t like as much as other options. If you’re considering any of these it’s probably better to spend the money elsewhere.
- Onsite Gym- Employees tend to prefer free or discounted memberships to gyms and health centers outside of the office. The exception is that female employees tend to love free yoga and fitness classes.
- Team Bonding Events- These may be fun, but employees don’t really see them as a benefit for them.
Unlimited Paid Time Off- unlimited PTO has become a very popular benefit, but it also tends to make employees feel intimidated, since they’re not sure how much is acceptable to use and they don’t like feeling guilty for asking their team to cover for them. Sticking to a set amount is better for everyone. The more you offer the better, but skip the unlimited.
