The Steps


Intro:
Before you begin
Step 1:
Assess the competition
Step 2:
Provide the legal minimum
Step 3:
Cover the basics
Step 4:
Consider a more complete plan
Step 5:
Check out inexpensive extras
Step 6:
Shop around for good deals



The Necessities


Industry newsletters and magazines

Access to job listings

Names and contact information for insurers

Information from the U.S. Bureau of Labor Statistics, which keeps track of salaries and benefits according to profession

Information from the Small Business Administration and small business alliances in your area, which will tell you what you're legally required to provide

Knowledge of what benefits your competitors offer



Time


About one to two weeks to research your package and find low-cost options

 

Business


2torial #0803:
Learn2 Choose Employee Benefits

A perfect (bene)fit

It's not easy to attract and retain top-notch employees, and a strong benefits package can be a big selling point for your business. In fact, good benefits can do just as much as a good salary to attract and retain employees.

From health insurance to retirement plans, benefits offer workers a sense of security. At the same time, the group rates and tax deductions you'll receive can work in your financial favor. We'll explain what's available (and legally required), as well as some low-cost extras, so you can better prepare a package that benefits everyone involved.

Before You Begin

Few small businesses can afford to offer employees the full red-carpet treatment, so you're going to have to make some tough choices. Beyond the legal minimum, however, it's ultimately up to you to decide what's most important for you, as an employer, to provide.

Go 2Step 1




#0603
Write a Business Plan

#0411
Hire Employees

#0907
Choose a Business Entity

 

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