One of the best things you can do to attract and retain qualified individuals as a company owner trying to hire is offer a comprehensive employee benefit plan at an affordable cost. Of course, this will cost your company money but the advantages of having a plan in place greatly surpass the cost to you as the employer. In fact, it is likely that your business will do better and thrive more when you can offer your employees the security of having employee benefits and health insurance.
If you are concerned about the costs of offering employee benefits at your business or you would just like an idea of how much you will need to pay, there are some statistics you can go off of. In the 1990’s employee benefit plans had fluctuated greatly, costing employers anywhere from $5-$7 per hour an employee worked. By the early 2000’s this had dropped to about $4 an hour before it gradually increased to the rate of $8-$9 per hour at which it stands today. By December 2010, these rates had increased and total compensation costs were at about 30.3%.
Finding the most comprehensive and affordable insurance and employee benefits plan isn’t always that simple. That’s why it’s best and easiest to hire an insurance broker. They have the experience and education in the insurance industry to get exactly what you need out an employee benefit plan at a price your company can afford.
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