Best Employee Benefits In 2023 Forbes Advisor

Families: We provide a comprehensive package of services and resources caregivers need. Of course, you'll have to offer workers' compensation, Medicare, Social Security and other required benefits, but there are many optional perks you can add on. Some of them, such as flexible work schedules and remote opportunities won't cost you anything.

Some benefits would still be subject to the Federal Insurance Contributions Act tax (FICA), such as 401(k) 11 and 403(b) contributions; however, health premiums, some life premiums, and contributions to flexible spending accounts are exempt from FICA.

Many of these unique employee benefits examples are on the rise: for example, in the U.S., out of all the organizations that increased their offered benefits, 44% increased their employee wellness resources These can help boost morale, but they can also help you avoid indirect costs, like costs associated with missed work and associated productivity (about $1,685 per employee each year, according to SHRM).

Likewise, you need to take into careful consideration the financial implications implementing these benefits will have on your business and whether the costs of the benefits you intend to introduce are ultimately cost-effective and beneficial for all parties.