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Employee benefits packages include non-salary compensation like health care coverage, retirement benefits, and paid time off. Federal law requires employers to offer benefits like COBRA, FMLA, and minimum wage standards; many states mandate further coverage including disability, workers comp, and additional leave.
This can include health insurance, retirement benefits, and paid time off, for example.
The four major types of employee benefits, generally considered traditional benefits, are medical, insurance, paid time off, and retirement. Let's take a closer look at each of these, as well as a few nontraditional benefits that might enhance your company culture and improve employee engagement and retention.
Health insurance After their salary, health insurance is likely the most essential aspect of employees' compensation. It's one of the most common benefits, ing to our survey data, and employees rate it number one on their wishlist.
The State contributes 79% of the health insurance premium, 100% of the basic life insurance coverage, and 100% of the Employee Assistance Program cost (for participating agencies). All other insurance plans are offered to employees at a group rate.
Employee Benefits Package Examples 401K plan with employer matching. Medical, dental and vision insurance with a range of coverage/co-pay options for employees. $100/month gym or fitness reimbursement. 10 days paid time off annually.
The top five types of employee benefits Health benefits. ... 2) Retirement benefits. ... 3) Flexible work schedules and PTO. ... 4) Wellness program. ... 5) Tuition reimbursement and professional development opportunities. ... Conclusion.
Benefits make up more than 30% of the typical job's compensation, ing to the U.S. Bureau of Labor Statistics. But figuring out what your benefits are worth isn't always easy. You may need to do a little digging to find how much your employer contributes toward health insurance, retirement plans and other perks.