Strategic, Innovative Benefit Specialists
More than copays and deductibles you need a strategic partner to help design, launch and manage employee benefit programs that actually benefit your employees, and your bottom line. We provide the options you want, the benefits your employees value and a process to safeguard your current and future growth.
Our team of talented benefit specialists are dedicated to helping you contain costs while designing a superior benefit package to foster a healthy and productive workforce. Turn to BHS for innovative benefit solutions to help your company thrive.
What are employee benefits?
Employee benefits are additional perks or compensation provided by employers to employees, beyond their regular wages or salaries. These benefits can include health insurance, retirement plans (such as 401(k) plans), paid time off (such as vacation and sick leave), life insurance, disability insurance, flexible spending accounts, wellness programs, and other fringe benefits like employee discounts or tuition assistance. Employee benefits aim to enhance the overall compensation package offered by employers and provide support for employees' well-being, financial security, and work-life balance.
What is the cost of benefits per employee?
The cost of benefits per employee refers to the total expenses incurred by an employer for providing employee benefits on a per-employee basis. This cost can vary widely depending on the specific benefits offered, the size of the workforce, the industry, geographic location, and other factors. The cost of benefits typically includes contributions towards health insurance premiums, retirement plan matching contributions, administrative expenses, and other costs associated with offering employee benefits. It's important for employers to carefully budget and manage these costs to ensure they can provide competitive benefits while maintaining financial sustainability.
Why are employee benefits important?
Employee benefits are important for several reasons. Firstly, they help attract and retain talented employees. Competitive benefit packages can be a key factor in attracting top talent to join a company and can contribute to higher employee satisfaction and loyalty. Additionally, employee benefits support employee well-being, health, and financial security. Benefits like health insurance provide access to necessary medical care, retirement plans help employees save for their future, and paid time off allows for work-life balance. These benefits can contribute to a positive work environment, improve employee morale and productivity, and reduce turnover. Overall, employee benefits are an investment in the success and satisfaction of both employees and the organization.