What Benefits Can Your Small Business Offer?

November 6, 2018 by OSYB Staff

Benefits are an important key to hiring the best employees for your business.  As a small business owner, what can your small business offer to entice employees that will contribute to your company’s success?  First of all, make sure that you are in compliance with the Applicable Large Employer (ALE) requirements for large businesses under the Affordable Care Act, if applicable.  Also, be in compliance with other health insurance and benefits that are mandated for small businesses such as:

• FICA
• Unemployment Insurance – check your state’s requirements
• Workers’ Compensation Insurance – check your state’s requirements
• Disability Insurance – check your state’s requirements

Once you are in compliance with the mandanted requirements, consider some benefits that a small business like yours can offer:

• Health insurance – use the government service, Small Business Healthcare Options Program SHOP to check out affordable options
• Flexible Spending Accounts (FSA)
• Paid leave, sick leave
• Vacation time
• Flex time
• Remote working options

A strong work team is a driving force behind the growth and success of your business.  Be thoughtful in assessing your team’s value in achieving your business goals.  When you appreciate their contribution, you will find it easier to provide them with the best benefits that your business can afford.

For more information:  Health Insurance and Benefits for Small Businesses

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