Low Cost/No Cost
In today’s competitive workplace, more and more employers are turning towards low cost/no cost benefit programs to attract and retain quality employees. The introduction of benefit menus giving employees the power to choose those benefits most valuable to them, pays dividends to employers through better morale, higher productivity, and lower turnover. A program that provides employees with access to benefits that are most pertinent to their individual needs will yield higher perceived value of the plan, and thus strengthen the employment relationship.
Particularly in light of the resurgence of escalating healthcare costs, employers are turning to voluntary benefits as a way to shift focus away from increasing medical plan contributions or changing plan designs. Several innovative approaches employers are introducing are grouped into the following categories and include:
| Insurance Supplement |
Time Related:
Work/Life
|
Concierge |
On Site Perks |
Morale Teambuilding |
| Supplemental Life, Accident, Disability |
4 day work week (80 hours in 9 days) |
Dry Cleaning |
Health Club |
Community Outreach |
| Medical, Dental, Vision |
Flex time |
Houseclean |
Nap room |
Financial Planning |
| Group Home/Auto/Boat |
Job Share |
Moving |
Day Care |
Adoption Assistance |
| Long Term Care |
Telecommute |
Dog-walking |
Massage |
No-interest loans for PC's |
| Group Legal Assistance |
Purchase additional vacation days |
Travel planning |
Smoking lounge |
Vendor discounts - movies, restaurants, travel |
| Alternative Medicine |
Sabbatical |
Utility visits |
Parking |
Tax preparation |
| Pet Insurance |
Unpaid leave |
Take home meals |
Drinks and snacks |
Monthly birthday parties, pizza days |
Please note that several of these benefits can also be designed for part-time employees - which may alleviate the pressure to offer the more expensive benefits customarily available to fulltime employees.