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Pro and Cons of Offering Employee Benefits

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Pro and Cons of Offering Employee Benefits

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Employee benefits just add to employer costs, right? So why should an employer offer them? Below are some considerations to weigh when deciding if providing employee benefits will also benefit your business.

THE PROs

* A benefits package, especially one that offers good health insurance, helps attract and retain quality employees.

* Businesses get the tax advantage of deducting plan contributions.

* Employees often will accept better benefits in lieu of a higher salary, which can be a savings to the business.

* Offering benefits to employees also can be advantageous to a business owner, who may be able to get personal benefits for less money than if he or she purchased them privately.

* Offering health insurance has been shown to decrease absenteeism and improve employee health and morale.

 

Read complete article published April 1, 2009 at Reuters.com


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