News

How to ensure your benefits package grows with your business

4 October, 2019

When your business was starting out, a simple small business benefits package — some free food, a little paid time off and the chance for employees to buy health insurance from a group plan — might have been enough.

But as you transition from a small business to an emerging growth company, at some point it’s probably a good idea to reassess what you’re offering.

Not only could your expanding business face different requirements, but a more attractive package could help you compete with larger companies for the workers who are essential to fueling your growth. Here are five benefits considerations to keep in mind as your company grows.

  1. Meeting health insurance requirements
  2. Expanding other benefits
  3. Paying a greater share
  4. Setting different eligibility thresholds
  5. Building out benefits communication

Chances are, the benefits strategy you used as a startup is no longer suitable for your new status as an emerging growth company. Your employees are what will drive your business forward and make it successful, so be sure your benefits package is drawing in the best talent and keeping your workforce happy, motivated and thriving.

Source: My Anthem News Excerpted from an Understanding Health Insurance article by David Rodeck featured on The Benefits Guide.