Introduction
Employee benefits are extras that employers offer their employees above the basic salary. You will notice that many of these benefits address a specific employee need. Employers can categorize the benefits into two categories, mainly those given to sustain work and those given out of competitive necessity in the labor market. Research shows that the preoccupation in employee benefits design has been to assist companies in attracting and retaining the right employees. This article will explore the different employee benefits, how to design effective employee benefits, and their impact on important business outcomes, with a focus on their effect on job satisfaction. We will examine employee benefits based on what scientific evidence says about each benefit and its impact on important business outcomes.
As we explore the various facets of employee benefits, we will use one of my favorite definitions of job satisfaction. It comes from Edwin A Lock(1976), who defines job satisfaction as follows: “A pleasurable or positive emotional state resulting from the appraisal of one’s job or job experiences.” That is the anchor definition we will use throughout this article.
The article’s main focus is to share lessons that practitioners can use to implement these employee benefits with the maximum value to their employees and organizations. I will give you tips on how to implement each benefit. Practitioners must note that the trend now is to look at employee benefits within the context of total rewards.
Employee Benefits categories you need to know
One way to look at employee benefits is to categorize them based on the type of advantage or convenience they offer to employees. On the one hand, we have your common perks, which aim to improve everyday convenience and the employee experience. These include free or subsidized meals, with nearly two in three employers offering food-related benefits and gym memberships. An estimated 49% of employees prefer wellness-related perks and other wellness initiatives. Another notable characteristic of such perks is that they are applicable to a broad group of employees, and sometimes all employees are eligible.
We have employee benefits that are exclusive to senior employees and often referred to as perquisites. They include exclusive benefits such as company cars and stock options. Employers offer these non-cash benefits or privileges on top of normal pay. They may also encompass additional retirement planning options, flexible work arrangements, and other tailored benefits to meet the specific needs of a company’s leadership. Some of the employers offer a 401(a) retirement savings plan with different eligibility criteria and varying vesting schedules. Such employee benefits apply to senior staff.
Why are employee benefits important?
It is common knowledge that the major reason employers offer various benefits to employees is to enable them to attract and retain the talent they need to succeed. What makes this area competitive is that there is limited talent across various sectors and roles, especially those who can deliver on the job. Research has shown that employers also offer employee benefits to improve employee job satisfaction, which ultimately leads to better job performance. A study in the SA Journal of Human Resource Management found that high levels of remuneration and benefits play a key role in attracting talent. One review indicates that organizational culture, benefits, and salary influence job satisfaction, leading to better employee retention. Some surveys show that around 60% of employees do consider the perks and benefits offered before accepting a job offer. The Society for Human Resource Management (SHRM) reported that 92% of employees indicate that benefits are important to their overall job satisfaction. Employers record fewer sick days off when they offer preventive health care benefits. Workers with paid sick leave are more likely to utilize preventive health services, which can reduce absenteeism and promote a healthier workforce.
Does offering employee benefits impact business outcomes?
Research shows that employee benefits affect several business outcomes, including employee retention, satisfaction, and turnover. When designing employee benefits, employers must pay attention to what employees prefer. Several surveys, including scientific research, have been conducted to determine which benefits employees prefer, and the results are consistent. Bundoft, for example, did research showing that employers who offer comprehensive health insurance plans tend to gain a competitive advantage in retaining and attracting high-quality employees.
As we review employee benefits and how they help organizations manage human resources, we must note that researchers have not been able to show that job satisfaction leads to better job performance. Therefore, I had to dig into scientific research as part of this article. What I found is surprising. Research shows a surprisingly weak relationship between job satisfaction and job performance. One meta-analysis study estimates the correlation between job satisfaction and performance at 0.17. While previous studies may have shown a better correlation between these two variables, the referenced research above attributes the attractive results of earlier studies to using small sample sizes. These findings challenge the widespread assumption that happier workers are necessarily more productive.
On a positive note, several studies have shown evidence of a significant and positive relationship between employee benefits and job satisfaction. Researchers, for example, have found that medical, housing, and paid leave benefits significantly impact job satisfaction. Other researchers have shown that financial benefits, training, and career development opportunities all positively impact job satisfaction.
One study investigated the correlation between various employee benefits and employee retention. The results show that employee benefits such as health benefits and work-life balance significantly correlate with employee retention rates. The conclusion from this study is encouraging as they noted that employee benefits could explain 77.2% of the variation in retention rates. Another study examined the impact of shifting retirement benefits from defined benefits pension to less generous defined contribution plan on employee retention. The results show that the transition to less generous retirement benefits led to a 5% point increase in the likelihood of employees staying with the state government for at least a decade.
The various types of employee benefits offered by employers:
1. Health Care Insurance
A large study (267,995 people) analyzed 485 studies on job satisfaction and health. They found a positive correlation between job satisfaction and overall health (r = 0.312). The strongest correlations were with mental health issues like burnout (r = 0.478) and depression (r = 0.428). This suggests that employee health is key to ensuring job satisfaction. Therefore, employers should prioritize employee health by offering sustainable employee health benefits.
Healthcare insurance is a popular employee benefit in the United States. Research shows that as of 2022, 47% of employees participated in employer-funded healthcare schemes. The Bureau of Labor Statistics put the take-up rate of this employee benefit at 66%. According to the Kaiser Family Foundation 2023 Employers Health Benefits Survey, the average employer-sponsored health insurance is $ 8,435 for single coverage and $ 33,968 for family coverage. Another interesting statistic about this employee benefit is that in 2022, 55% of the United population had access to employment-based health insurance coverage. Other researchers show that 79% of employees consider this benefit a “must-have” benefit.
2. Retirement Plan
A retirement plan is a savings or investment plan employers offer employees to prepare them for life after retirement. The retirement plan is one of the common benefits provided by employers. The take-up rate of such plans depends on the employee’s level of financial literacy. One scientific paper looked at retirement patterns in the US. It noted the prevalence of the “do-it-yourself” approach to retirement, where individuals manage much of their retirement planning. This pattern affects the uptake of employer-initiated employee retirement plans. When looking at retirement, employers can not afford not to factor in the issues of work, aging, and retirement, as demographic shifts are evident.
Commentators have noted a shift in employee retirement plans in the United States. Defined benefits, for example, have been on the decline. A Journal of Pension Economics and Finance study claims Americans lack retirement planning due to low financial literacy. A study done in Canada shows very interesting and unexpected results between retirement benefits and job satisfaction. A study of employees in a Canadian public utility company showed that job satisfaction was negatively related to expected accruals under a final-earnings pension plan. The surprising results allow employers to assess employee benefits’ impact on job satisfaction and other outcomes. Other research, and probably more important, suggests that retirement plans facilitate retirement and improve the employee’s overall well-being after retirement.
3. Paid time off
Paid time is one of the benefits employers offer employees as part of the remuneration package. A report by Barthold and Ford shows that as of March 2009, the prevalence of paid sick leave in the private sector ranged between 58% in ICT and 79% in financial services. Some researchers found interesting findings in a detailed study on the connection between paid sick leave and business outcomes. The results show that paid sick leave is positively related to positive business conditions, including increased employee satisfaction, better retention, and reduced workplace injuries.
4. Tuition Reimbursement
Under this employee benefit, employers refund employees who may have used their money to study for a course related to their job. In some instances, the employer funds the tuition upfront. Employee tuition reimbursement policies vary based on organizational circumstances and the type of skills the organization wants to develop. Some policies have clauses that penalize the employee who leaves the organization after receiving this benefit. Several studies have shown a significant positive relationship between tuition reimbursement and job satisfaction. One study focusing on rural nurses found that tuition reimbursement among rural nurses was positively related to job satisfaction across all health settings.
5. Employee Discounts
In the USA, several companies offer this employee benefit. Companies such as Gap, H&M, Apple, Amazon, and Google provide employee discounts. In the food industry, companies like Chipotle offer meal discounts, and automotive companies like Ford give discounts to employees. Research by SHRM shows that HR professionals indicate that their employees value employee discounts. Despite their popularity, no scientific research has shown a link between employee discounts and job satisfaction.
6. Life Assurance
Life assurance, also called life insurance, is an employer-initiated employee benefit that offers financial assistance to the beneficiaries in case of the employee’s death. The employer pays the premiums for a group life assurance policy, and the payout (called a death benefit) is a tax-free lump sum. In the USA, 55% of nonunionized employees can access employer-funded life assurance plans. A report by OneAmerica suggests that 45% of employed Americans do not have voluntary group life insurance provided by their employer. The numbers show that there is still room to reach more employees to enable them to access this employee benefit. There is limited to no research showing the relationship between the employee life assurance benefit and job satisfaction.
7. Flexible Working hours
This employee benefit is becoming popular due to concerns about work-life balance and its impact on employee productivity. An interesting survey shows that 44.9% of businesses have adopted flexible work arrangements. Deloitte’s survey found that among professionals whose companies offer flexible work options, 82% have used them, with flexible work hours being one of the most valued options. A McKinsey study reports that 35% of job holders can work from home full-time, and 23% can do so part-time. The Bureau of Labor Statistics shows that more than half of workers have access to flexible scheduling, with 56% of these being women and 57% being men.
Scientific research confirms the link between flexible working arrangements and job satisfaction. One study in the banking sector confirms the link between flexible work arrangements and job satisfaction. Researchers conducted an interesting field experiment to show the link between flexible working hours and increased job satisfaction. The field experiment results confirm the link between flexible work arrangements and job satisfaction. Daniel Wheatley’s research, utilizing data from the British Household Panel Survey and Understanding Society from 2001 to 2010/11, confirms the link between flexible working arrangements and employee job satisfaction.
8. Professional Development
Several organizations offer opportunities for professional development to their employees. Some surveys show that an estimated 87% of Millennials consider opportunities for professional development as important. A study by Delvin Peck shows that 70% of United States Adults have had a chance to participate in continuing education. Other studies have shown that professional development has an impact on employee job satisfaction. A study of teachers done by Smet shows that providing teachers with opportunities for professional development leads to job satisfaction.
9. Paid Parental Leave
Paid parental leave (PPL) is a benefit employers offer to employees who are new parents by providing them with paid time off from work to care for their child following a birth, adoption, or foster care placement. While the provision of this employee benefit by employers is growing in the United States, it is still relatively low compared to other developed countries. The Bureau of Labor Statistics shows that as of March 2021, 23 percent of civilian workers had access to paid family leave, and 89 percent had access to unpaid family leave. Other sources show that 25% of companies offer paid parental leave. Notably, an estimated 28% of state and local government employees have access to paid family leave. One study by Bae found a significant relationship between family-friendly policies, including parental leave, and job satisfaction.
10. Wellness Programs
Employee wellness programs are emerging as one of the trending employee benefits. This is a benefit employers offer to employees to support their wellbeing. Available statistics show that 83% of big organizations offer health-related interventions to help employees. It is interesting to note that 52% of US organizations provide some form of wellness program. Other sources show that 76% of companies are putting resources into promoting wellness programs. A study in 2012 showed that employees who attended wellness programs reported higher job satisfaction and lower absenteeism.
11. Bonuses
The prevalence of bonuses in the workplace tends to vary by sector and generally fluctuates over time. In 2023, year-end bonuses were down between 3.8 percent and 36.2 percent from 2022, depending on the industry, indicating a change in bonus distributions across different sectors. Some studies show that company bonus programs have a 79 percent success rate in achieving their established goals.
Over 40.5% of all US workers have access to nonproduction bonuses, with year-end bonuses being the most common, accessed by 11% of all employees. Retention bonuses have also increased, offered by 16 percent of organizations to executive-level employees and 14 percent to non-executive employees.
The Bureau of Labor Statistics reported that 38 percent of private industry workers had access to nonproduction bonuses in 2017, with end-of-year bonuses being one of the most frequent types. A 2016 survey revealed that 41 percent of US employees received a bonus during the survey period. Scholarly research suggests that a reward package with a 13th cheque and a performance bonus is more attractive to employees than having no benefits.
12. Stock Options
Stock options are a form of employee equity compensation fairly common in certain sectors and company sizes. Research from Aon found that 49% of S&P 500 companies and 38.5% of Russell 3000 companies offer their employees an Employee Stock Purchase Plan, highlighting a significant prevalence of stock-based compensation in larger, publicly traded companies. Analysts have noted that many employees may not fully understand how to determine the best time to exercise or sell their options.
Available evidence suggests that employee stock options can positively affect productivity. Some observers have noted that the use of stock options today tends to occur most frequently at companies that anticipate significant growth in stock price over the near future. Research indicates that broad-based stock options (in which many employees receive options) are increasing and that employees do not sacrifice pay or other benefits when participating in employee ownership plans. Another study discusses the prevalence of broad-based stock option plans in the US economy, considering the effects on employee compensation and behavior.
13. Company Cars
Company cars have traditionally been a valued employee benefit but have seen changes in prevalence and structure in recent years. In the technology and life sciences sectors, car allowance policies for sales roles are becoming less common among employers. Research has also highlighted that company cars can be used strategically as a retention tool, indicating their value beyond just transportation. The prevalence of company cars is explained by the significant tax benefits that go with such benefits in some regions, such as Europe and Israel.
Besides the standard benefits we are accustomed to, employers are innovative by offering extra benefits. Below, I share some of the emerging benefits. We are seeing more benefits for wellbeing, flexibility, time off, and financial and family support.
14. Mental health support
The prevalence of mental health issues in the workplace is relatively high. The World Health Organization estimates that 15% of working-age adults have a mental disorder at any given time. This is significant considering mental health’s impact on employee performance, absenteeism, and overall workplace productivity. Mental Health America reported that in 2022, 81% of workers said workplace stress affects their mental health, an increase from 78% in 2021. These statistics underscore the importance of addressing mental health in the workplace and the potential benefits of supporting employees’ mental wellbeing. Available data highlight that nearly 80% of mental health providers have reported increased demand for support, and 71% of employees believe their employer is more concerned about their mental health than in the past, with organizations spending an average of over $15,000 yearly on each employee supporting their mental health. A Mercer survey found that 94% of large employers reported strengthening their coverage for mental health care in the last three years.
15. Fitness incentives
Many companies now offer fitness incentives to keep employees fit and healthy. An estimated 73% of employers provide their employees with physical activity programs or fitness discounts, emphasizing the growing trend of workplace wellness management.
16. Nap rooms/relaxation spaces
The provision of nap rooms and relaxation spaces in workplaces is a growing trend, albeit less common than other wellness benefits. An estimated 16% of US companies now offer designated nap rooms or quiet spaces for their employees, reflecting the increasing acceptance of workplace napping to enhance productivity and creativity. However, the availability of nap rooms is still relatively rare, with only about 6% of US employers providing such spaces. Studies have shown that using nap pods or recharge rooms can significantly reduce perceived stress and are highly valued by users. Research shows that employees with access to relaxing and private areas for napping report increased productivity, innovation, and job satisfaction.
17. Unlimited Paid Time Off
The concept of unlimited PTO is highly valued by employees, with 72% naming it as their number-one most valued employee benefit, even above wellness programs and retirement plans. The adoption of unlimited PTO policies is still not widespread. According to various surveys, only 6% to 8% of US employers offer unlimited PTO. Despite the low prevalence, there is a notable interest among workers in such policies, with studies indicating that employees with unlimited PTO report having a better work-life balance. The younger workforce, in particular, is attracted to unlimited PTO and the flexibility it offers. However, it’s important to note that actual usage of unlimited PTO can vary, with employees often taking around 13 days off per year on average.
18. Summer Friday
Offering Summer Fridays in the workplace has seen a notable adoption across various industries. According to research by Gartner, 55% of American companies have instituted a Summer Friday policy, allowing employees to either leave early or take the entire day off on Fridays during the summer months. This trend is supported by findings suggesting such policies can increase employee well-being and reduce stress. Studies found that 66% of employees who benefit from Summer Fridays feel it boosts their productivity. Despite the growing popularity, the prevalence of this perk can vary, with another survey indicating that up to 30% of workplaces offer some version of summer hours. Summer Fridays are considered key to employee happiness and an effective approach to improving work-life balance.
19. Free or subsidized meals
Free or subsidized meals in the workplace are common and appreciated by employees. While specific prevalence rates of companies offering this benefit are not readily available, a study by USA Today found that 67% of employees feel happy and satisfied with their jobs when provided free food. A survey revealed that 65% of workers would be more inclined to come to work on-site when the employer offers a free meal.
20. Commuter benefits
Commuter benefits in the workplace are aimed at easing the financial burden of commuting for employees and have varying levels of prevalence and adoption. Around 13% of businesses offer commuters a break on public transportation commuting costs, which has remained relatively consistent over the years. However, 95% of commuters receive free parking at work, highlighting that parking benefits are far more widespread.
21. Concierge services
Companies implementing concierge services report increased employee satisfaction, productivity, and retention rates. Moreover, scholarly research has investigated the role of concierge services in facilitating mental health treatment in the workplace. For example, one study found that employees who used a care concierge service had a greater cumulative incidence of mental health prescriptions during the follow-up period, suggesting that such services can benefit employee health and well-being.
22. Subsidized childcare
When employers offer this service, there are positive labor force outcomes for working parents. Research using Census data has found that childcare subsidies are linked with higher employment rates and enrollment in job training. What is interesting here is that 98.3% of subsidy-receiving married mothers who worked during a reference year remained in the labor force four years later, suggesting that such subsidies significantly impact workforce retention. There is strong evidence that childcare subsidies increase maternal employment, particularly for families with low incomes. However, access to adequate childcare remains a challenge for many, with around one-third of households with incomes less than $35,000 having left or lost a job due to childcare issues. As of March 2022, 11 percent of all US workers had access to some employer-provided childcare benefit. A Care.com survey found that 57% of employers were planning to prioritize childcare benefits to attract and retain employees. One study suggests that benefits in the form of subsidies or corporate-provided near-site childcare centers are important in employee attraction and retention.
How much do benefits cost a company?
The cost of providing employee benefits can vary widely but represents a significant financial commitment for companies. For health insurance, which is one of the most common and costly benefits, the average annual cost for employer-sponsored health insurance premiums in 2023 was $23,968 for family coverage and $7,911 for single coverage. When it comes to retirement, the costs associated with 401(k) matching typically depend on the specific match formula used. However, they can range from a few hundred to several thousand dollars per employee annually.
The Bureau of Labor Statistics reported that the average cost of benefits per employee in the private industry is around $10.88 per hour, which amounts to approximately 30% of the total cost of employee compensation. Based on a standard 40-hour workweek, this equates to an average of $510.80 per week and $26,561.60 per year for employee benefits. These figures underscore the substantial investment employers make in benefits, which are essential for creating a supportive work environment and maintaining a competitive edge in the labor market.
Best Practices for Your Employee Benefits Package
Best practices for creating an effective employee benefits package involve aligning the offerings with the needs and preferences of the workforce. Try to ensure there is a mix of traditional and innovative benefits that enhance the overall employee experience. It is essential to offer benefits that employees will actually use and value, such as private health care plans (including medical, dental, and vision), retirement or pension plans, and opportunities for training and development. Employee choice is also crucial; soliciting feedback through surveys or focus groups can help tailor the benefits to employee desires, making them feel valued and understood. Wellness programs and increased flexibility in work arrangements are additional components that can significantly enhance a benefits package, supporting healthy habits and work-life balance. Conducting a needs assessment is another recommended step, which involves determining the best benefits selection based on the specific needs and wants of the organization and its employees. Ultimately, a well-designed benefits package should support the well-being of employees both inside and outside of the workplace, contributing to a positive and productive work environment.
Employee Benefits design tips for employers
Research shows that employee benefits help employers to attract and retain employees. In addition, when properly structured, employee benefits lead to job satisfaction. Below, I share employee benefits design tips for employers.
- Generational considerations – The general view among people is that different generations want different things from work. Research by Mckinsey shows that various generations want the same things from work. Their analysis shows that various generational cohorts start and quit work for the same reasons. Here is the advice given by McKinsey: “For employers, some broader lessons have also emerged: let go of generational stereotypes, focus on the employment factors that matter across all ages, and take a nuanced approach to understanding how different factors interact and affect each individual’s decisions to stay or go, rather than applying a generic range of tactics to broad demographic segments.” These findings imply that focusing on generational cohorts when designing employee benefits could be misleading, as all generational cohorts want the same things for work.
- The total rewards approach – Employers must note that focusing on individual benefits outside the total rewards framework may not give them maximum value. Research shows that employees generally consider their compensation, which covers employee benefits in terms of total rewards rather than individual reward items. I advise employers to use an integrated approach focusing on what employees value among the many benefits available within the total rewards framework.
- Understand Your Workforce- Many organizations manage a diverse workforce, and it is imperative not to forget to incorporate this diversity in employee benefits design. Recognize the diversity within your workforce and understand the different needs and preferences. This ensures that employees embrace the benefits you offer them.
- Offer choices – Allow employees to choose benefits that speak to their needs. A blanket offer of all available employee benefits may not lead to the desired employer outcomes.
- Align employee benefits to the company culture. Your company will benefit more by offering employee benefits that reinforcing your desired organizational culture. This approach helps retain and attract the right employees for your business.
- Offer benefits that are outside the traditional benefits offered by many employers. Research shows that providing benefits that speak to modern employee challenges can effectively retain and attract the right employees. Employee benefits in this category include mental health assistance, student loan assistance, and remote work offers.
- Employers can use employee benefits to support career development. How does this work? Incorporate benefits that support employees’ professional growth, such as tuition reimbursement or professional development opportunities. This can improve job satisfaction and retention.
- Employers must regularly review their employees’ benefits to ensure they still serve the intended purpose. The workforce is changing, and so are their needs. Periodically review your benefits package to ensure it remains relevant and competitive.
- Ensure the employee benefits you offer comply with the relevant legislation. This is good practice and will help your organization avoid penalties resulting from non-compliance.
- Employee benefits cost money. Always do a cost-benefit analysis as part of your design process. Ensure that the benefits you offer are affordable and sustainable.
- As part of the design process, benchmark your employee benefits offerings with those of similar organizations. This ensures that the benefits you offer are sustainable and competitive. Offering far less than your competitors will constrain your ability to attract and retain the required talent. Offering way too much than competitors will cost you and may make your products and services less competitive as you pass the employee benefits costs to your customers.
- One study by Ryan highlights the need for organizations to employ knowledgeable employee benefits professionals who can assist in designing competitive and attractive employee benefits offerings.
Employers must incorporate some of the above employee benefits design principles to make such benefits affordable, sustainable, and competitive. As you design the employee benefits, avoid the one-size-fits-all option, as it does not serve you well and will have unintended consequences.
How to manage your employee benefits effectively
Employee benefits are very popular with employees. Employers need to understand which benefits are most preferred by their staff and which ones will achieve the twin goal of retaining and attracting the right employees. To manage employee benefits, employers must first identify which benefits are important to their workforce, customizing the benefits to meet these needs without making them administratively complex. In designing the employee benefits strategy, it’s important to remember that the employee benefits must reflect the market position the company aims to achieve. It is of utmost importance for any employer to ensure that the employee benefits align with the total rewards framework the company is pursuing. A misalignment at the design stage may not bring the intended benefits to the organization.
Planning how to administer the benefits is also key, especially focusing on managing benefit costs, maintaining compliance with legal requirements, and aligning benefits with company culture and employee expectations. This is not an easy task and requires careful planning from design to implementation. In designing your employee benefits strategy, remember that communication of the benefits plan is essential, as employees must understand what is available to them and how they can take advantage of whatever you are offering at any given time.
Employers are leveraging technology in administering employee benefits as HR software streamlines the administration and management of employee benefits, which can provide a more efficient and user-friendly experience for both HR personnel and employees. Remember that you may need to turn to employee demographics, job roles, preferences, and needs through surveys, focus groups, and conversations to help you refine the employee benefits strategy. The reason is to ensure that your benefits offering continues to meet the needs of your employees. You can benefit from using the gains in analytics to assess the effectiveness of your benefits offerings.
Frequently Asked Questions
1. What are employee benefits?
Employee benefits are additional forms of compensation provided to employees beyond regular wages or salaries. These benefits can significantly influence work motivation and productivity and are valued by employees. It is important to note that employee benefits represent a broad category that includes traditional, tangible, non-monetary benefits like health insurance and retirement plans, as well as intangible benefits related to work-life balance.
2. What are the four types of employee benefits?
There are generally four core types of employee benefits: medical insurance, life insurance, retirement plans, and disability insurance. Each of these categories serves to protect employees from different financial risks and to provide support in various life situations.
3. What benefits do employees value most?
As for the benefits that employees value most, health-related benefits, including medical, dental, and vision insurance, are consistently rated at the top by a wide range of employees across various demographics (SHRM). Other studies show that employees greatly value paid time off, flexible hours, and remote work arrangements, as these benefits contribute to a better work-life balance overall.
Conclusion
Employee benefits structure depends on each country’s economic system and each company’s unique operating environment. When designing employee benefits, consider what your employees value the most and what your competitors for labor are offering. Collect data on what would work in your company rather than designing general employee benefits. In this article, I have shared everything you would need to come up with effective employee benefits structures and strategies.
