There are many ways to measure the success of a business owner, but the impact a business owner is able to have on the quality of life of the employees has to be close to the top of the list, especially in the mind and heart of the employees. Beyond tangible rewards such as pay, and intangibles such as mentoring, a business owner can profoundly shape a worker’s life by providing a generous package of employee benefits. Indeed, many business owners acknowledge that the effect they have on the lives of workers is one of the most rewarding aspects of being a business owner.
It also has the potential to keep you up at night and affect you, as the business owner, and your quality of life in a negative way.
That’s because in order to offer generous benefits, you must first practice careful financial planning. This is something that, with a thorough consultation and carefully weighing out the long-term ability of what the company can provide, a 5-star quality of life for employer and employee alike can be the happy result. That said, if your company becomes known for offering good benefits, you will generally find it easier to recruit talented employees and you may even see some positive side effects with respect to marketing and sales. So, what constitutes a solid employee benefits package, and how do you set up various benefits plans? Here is an overview of the basic benefits to consider.
- Health Insurance
- Long-Term and Short-Term Disability Insurance
- Life Insurance
- Dental Insurance
- Long-Term Care Insurance
- 401(k) Retirement Saving Plans
- Profit Sharing Plans
- Pension Plans
- FSA & HSA Accounts
- Employee Access to Financial Planning Advice
If harmonizing and providing a better quality life for you as the business owner along with employees is important to you, give us a call or request an appointment at Jamison & Associates for your free no-obligation consultation. Click on Contact Us below and send us a note with a date and time that works best for your schedule for us to call you back.