An employee benefits package includes all the non-wage benefits, like insurance and paid time off, provided by the employer. Some types of employee benefits are mandated by law, including minimum wage, overtime, leave under the Family Medical Leave Act (FMLA) and State-specific leave laws, unemployment, workers compensation and disability. According to the U.S. Bureau of Labor Statistics, the average number of annual paid holidays is ten and the number of paid vacation days are nine after a year of service. About 75% of medium to large companies offer health insurance, but almost all require some employee contribution towards the cost.
ESN Solutions: Benefit Strategies (HRA, HSA, FSA), Benefit Statements, COBRA, Wellness, Retirement Plans….
Organizations that provide benefits typically attract and retain more productive employees. Organizations that leverage their benefits package to differentiate themselves as an "Employer-of-Choice" maximize this advantage and are consistently able to attract and retain the highest performing employees.