Employee Benefits

Employee benefits are benefits offered to employees from employers, such as health insurance, disability insurance and a retirement plan, to name a few. Benefit plans can add approximately 30 to 40 percent cost to the base pay of most employees. However, offering employee benefits can shape a company’s culture and affect employee retention -- as well as the quality of talent attracted to a business. Some benefits are mandatory by federal law and some aren’t -- but are deeply important to employees.

Small businesses: Often times, small-business owners believe they can’t afford to offer employee benefits -- and with good reason. However, currently the Affordable Care Act subsidizes the cost of medical insurance for businesses that have fewer than 25 full-time employees.

Here are some employee benefits that are required by law:

• Time off to vote, serve on a jury and perform military service.
• Compliance with all workers' compensation requirements.
• Compliance with the Federal Family and Medical Leave.