One of the best ways to keep your company competitive is by recruiting and retaining top talent in your field. However, if you’re a small business owner, then you might be worried about your ability to match up with larger corporations that have more resources at their disposal. While your company may not be able to pay its employees as much as a large business, data has shown that around 80% of employees would choose access to a good benefits package over a pay raise. This is why it’s so vital to build a solid employee benefits plan for your business.
If you would like to offer your employees freedom and flexibility when it comes to choosing and managing their benefits, then you should consider choosing a section 125 plan for your company. A section 125 plan gives your employees the power to choose from different qualifying benefits or choose to receive monetary compensation in place of benefits. Interested in setting up a section 125 plan for your business? Then here’s how SCH&A can help.