The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
The Kickass Entrepreneur
Subscribe
The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
  • All Blogs

4 Employee Benefits Best Practices to Follow

  • August 23, 2021
  • 2.1K views
  • 5 minute read
  • Rene
a group of associates doing fist bumps
Share
Tweet
Share

Most businesses nowadays put a lot of emphasis on making their customers happy because customers are the ones who bring in the profit.

4 Employee Benefits Best Practices to Follow

While it is necessary to put focus on your customers, you shouldn’t neglect your employees, as they are the ones who are running the company behind the scenes.

Happy employees are good employees and that’s why you need to focus on their benefits.

As much as 69% of employees say that having access to various benefits would increase loyalty to their employer, so if you want your workers to be loyal and hard-working, here’s what you need to do.

Find a Benefits Consultant

A benefits consultant is a professional that has in-depth knowledge of employee benefits, retirement plans, health insurance, and more.

There are multiple types of benefits consultants, including expert insurance brokers who know all the ins and outs of a good benefits strategy.

Your consultant will use multiple tools and provide a range of services that will allow your workers to receive the best possible benefits package.

Most companies rely on these consultants to establish a good employee benefits program as well as for employee acquisition and retention.

This professional will help you select the perfect benefits that work well for your organization and implement them smoothly.

They will explain all of the benefits that exist, which benefits your employees would find attractive, and most importantly, which benefits you can actually afford.

One of the biggest reasons why companies decide to hire a consultant in the first place is because every benefit has to follow different laws and abide by certain rules.

So if you don’t want to spend hours studying laws and regulations, it’s best to hire a professional who already has in-depth knowledge about them.

Use an HRIS System

Human resources are arguably the most important department in any organization, as they’re responsible for everything related to employees, their rights, and their comfort.

But the HR department is one of the busiest ones as well, so it would be smart to ease their workload as much as possible.

To do that, companies use HRIS systems (human resources information systems), which allow HR employees to manage most of their functions electronically, including the ones related to salaries and benefits.

This software collects and stores all employee information within an organization and can facilitate a majority of HR activities.

 HRIS systems come with a plethora of useful features, such as:

Personnel Administration

This system stores all personal data such as name, date of birth, date of entry into the organization, marital status, and so on.

All of this information is essential because it lets you know who the people working for you really are.

Salary Management

Since the HR department deals with salaries, having a system that can provide accurate reports on salary, salary increases, and benefits can make their jobs much easier and increase satisfaction.

Employee Benefits Information

You can use your HRIS system to store all information and documentation related to benefits. This will help you keep track of everyone’s benefits and ensure nothing is ever forgotten.

Explain the Benefits and Have a System in Place

Choosing which benefits you want to provide to employees is a complicated process, but as we already established, it can be easier with the help of a consultant.

Still, explaining those benefits to your employees can be just as complicated and that task will fall on you.

Once you have all of the benefits in place, organize a team meeting to explain each worker’s benefits and why those specific ones were chosen.

Benefits education is the first step in raising benefits awareness and it can be even implemented into your recruiting process.

Make sure to explain the system you put in place thoroughly. This system can be physical or digital, and its purpose will be to keep track of all administrative and financial procedures.

It also holds both parties accountable, so neither the employer nor the employees can abuse their benefits.

And most importantly, you need to make it easy for members of staff to follow the system and participate in the benefits program.

That means it should be easy for them to acquire claim forms, information seminars, have access to automatic enrollment, and so on.

Treat Your Employees Like They’re Your Customers

Companies with high worker satisfaction outperform low satisfaction companies by as much as 202%, so if you want your business to be successful and profitable, worker satisfaction needs to be a priority.

In most cases, this means treating your workers just as well as you treat your customers.

Keeping them happy and satisfied is one of the biggest benefits you can give them, and best of all, it’s mutually beneficial.

If the people who work for you are happy, they’ll become amazing brand ambassadors and represent your brand image and you will be able to keep attracting great employees.

So make sure to learn the keys to employee satisfaction.

Start a Wellness Program

There have been many changes to the federal health care regulations that require employees to provide healthcare insurance to their workers.

If you’re a good employer, you’re going to do this regardless of regulations, but there is still a way to reduce those expensive premiums.

Remember that prevention is worth much more than a cure and you need to have a way to prevent your employees from becoming ill as much as possible.

That can easily be done with a well-designed wellness program that will keep your employees healthy and keep your costs down.

A wellness or wellbeing program can include things such as health clubs or gym memberships for all employees.

Some of these facilities are ready to offer special deals to businesses that want to buy multiple memberships at the same time, so make sure to do some research.

You can also do some inexpensive things such as promoting a healthy lifestyle by organizing a companywide walk for charity or a health fair.

This will prevent the development of certain illnesses and make your employees feel better about themselves as well as more motivated in the workspace.

And as an added bonus, you will spend less money on healthcare premiums.

Final Thoughts

The people who work for you are the greatest asset you have. You need to do everything in your power to keep them around, and you can do that by offering great benefits.

If you remember and implement all of the employee benefits practices you read about here, all of your workers will be happy and satisfied.

_________________________________________________________________________ 

Some other articles you might find of interest:

Understand how you can maximize your time to grow your business:

 Time Is Money And Your Most Valuable Resource. Use it Wisely to Build Your Business

https://www.thekickassentrepreneur.com/time-is-money/

 Looking for effective ways to drive and increase traffic to your startup website?

 SEO Traffic Guide To Boost Your Blog Rankings

https://www.thekickassentrepreneur.com/guide-to-boost-your-blog-rankings/

 Looking for effective ways to drive and increase traffic to your startup website?

 3 Top Reasons Why Startups Fail and How Not to Become a Victim

https://www.thekickassentrepreneur.com/3-top-reasons-why-startups-fail-and-how-not-to-become-a-victim/

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

Related Posts:

  • 6 Pain Management Practices to Follow While Working From Home
  • Top Rules Every Employee Must Follow At Work
  • Employee onboarding best practices for 2023
  • 9 Practices To Improve Employee Time Management
  • 5 Practices For An Effective Employee Compensation Strategy
  • A Complete Guide To Employee Benefits
Share
Tweet
Share
Rene

Previous Article
two people conversing inside an office
  • All Blogs

Ultimate Guide to Starting a Consultancy Business From Scratch

  • August 23, 2021
  • Rene
View Post
Next Article
Tai Lopez
  • All Blogs

How Successful Entrepreneur Tai Lopez Is Saving Dying Brands by Taking Them Online

  • August 23, 2021
  • Rene
View Post
You May Also Like
man touching a woman's shoulder
View Post
  • All Blogs

Addressing Emotional Distress from Sexual Harassment in San Diego: A Legal Perspective

  • September 20, 2023
  • Meg Rivera
writing
View Post
  • All Blogs

8 Essential Steps for Impeccable Essay Proofreading and Editing

  • September 20, 2023
  • Meg Rivera
Net worth by age percentile calculator for Canada
View Post
  • All Blogs
  • Financial and Investment Calculators and Economic Data

Net Worth By Age Percentile Calculator for Canada with 2023 Data

  • September 9, 2023
  • Jeff Wiener
waste disposal
View Post
  • All Blogs

Dumpster Diving: A Guide to Efficient Waste Disposal

  • September 6, 2023
  • Meg Rivera
form 1040-x
View Post
  • All Blogs
  • Business

Mastering Form 1040-X: Your Guide to Amended Returns

  • September 3, 2023
  • Jeff Wiener
ohio tax rate
View Post
  • All Blogs
  • Business

Navigating Ohio’s Tax Rates: A Comprehensive Overview

  • September 3, 2023
  • Jeff Wiener
Safe workplace yellow out of service tag placing on RCD residual
View Post
  • All Blogs

Managing Workplace Accidents in San Diego

  • August 29, 2023
  • Meg Rivera
australia
View Post
  • All Blogs

Unleash Fun: Get 30 Free Spins in Australia’s Online gaming Scene

  • August 21, 2023
  • Meg Rivera

Join 6,472 Entrepreneurs That Get My Business Building and Wealth Creation Posts by Email

I can teach you how to build a successful, profitable business, and turn that into millions in personal wealth.

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

We won’t send you spam. Unsubscribe at any time.

Recent Posts
  • man and papers 1
    Targeting Millennials: Real Estate Marketing Strategies For The Next Generation of Homebuyers
    • September 22, 2023
  • loan types 2
    Smart Borrowing: Determining How Much You Can Afford To Borrow
    • September 22, 2023
  • handyman 3
    Effective Strategies To Advertise Your Handyman, Landscaping, or Plumbing Services
    • September 22, 2023
  • happy woman 4
    Kickass Ideas to Maintain Customer and Employee Loyalty
    • September 21, 2023
  • Real estate broker agent presenting and consult to customer to d 5
    The Return on Investment (ROI) of Mortgage CRM Investments
    • September 20, 2023
Featured Posts
  • Become a Decamillionaire
    How to Become a Decamillionaire, Grow your Net Worth to $10 Million, and Join the 1% Club
  • how to become wealthy
    The Entrepreneur’s Secret to How to Become Wealthy and Build a Personal Fortune
  • Most Profitable Small Businesses
    27 of the Most Profitable Small Businesses to Open in 2023
Categories
  • All Blogs (1,077)
  • Business (410)
  • Canadian Financial Products (4)
  • Create Wealth (Investing) (134)
  • Entrepreneur Interviews (27)
  • Featured Post for Main Menu (4)
  • Featured Top Posts (23)
  • Finance (112)
  • Financial and Investment Calculators and Economic Data (118)
  • Fitness (9)
  • Growing Profits (72)
  • Growing Revenues (115)
  • Growing Revenues (71)
  • Marketing (161)
  • Millionaire and Business owner interviews (3)
  • Positive State of Mind (69)
  • Real Estate Investing (17)
  • Retirement (13)
  • Reviews (13)
  • Sales (16)
  • Sell Me This Pen (8)
  • Selling your Business (13)
  • Starting a Business (1)
  • Startup Ideas (18)
  • Technology (194)
  • Top Products (4)
  • Uncategorized (62)
Follow us
Author
Jeff Wiener
Jeff sold his company to private equity in 2017 and is now semi-retired. Jeff spends time…

    CHECK OUT MY BLOG, AND SUBSCRIBE

    about
    The Kickass Entrepreneur

    Expand Your Business, Improve Profits, Create Wealth

    Expand your business, improve your profits, and create wealth. Each one of the three can be elusive goals. Follow the right steps, and you, too, can create financial independence. It is possible … you just have to take the right steps.
    NAVIGATION
    • About
    • Blog
      • All Blogs
      • Create Wealth (Investing)
      • Entrepreneur Interviews
      • Featured Top Posts
      • Growing Profits
      • Growing Revenues
      • Marketing
      • Positive State of Mind
      • Real Estate Investing
      • Retirement
      • Sales
      • Selling your Business
    • Book
    • Courses
    • Podcast
    • Resources
    • Contact
    TAGS
    apartment BATNA Business business failure business growth business sale Capitalization Rate CAP Rate cash cash flow Creating Wealth Discipline entrepreneur entrepreneurship excel extra cash Featured goal setting Growing Business investing investment real estate M&A marketing Marketing KPIs Mergers and Acquisitions | M&A | Entrepreneur Blog Millionaire millionaire next door mistakes MUR Peter Principle Profit profitability real estate retirement revenue Revenues sales sales management Semi-Retirement Blog | Entrepreneur Blog | Small Business Blog small business Stagnant stocks success Thomas Stanley wealth
    RECENT ARTICLES
    • horse jockey
      Top 5 Most Successful Horse Racing Jockeys Ever
      • September 8, 2023
    • man and papers
      Active vs. Passive Investing: Which Is Right for You?
      • August 8, 2023
    • seoul
      How Seoul Internships Shape Your Professional Journey
      • July 24, 2023
    • casino
      Empower Yourself With These 5 Lifelong Skills For Success In Casino Business
      • June 23, 2023
    • Real Estate Brokerage
      Factors That Affect Real Estate Commission Rates
      • June 21, 2023
    • Digital online marketing commerce sale concept. Woman using tablet payments online shopping and icon customer network connection on hologram virtual screen, m-banking and omni channel.
      A Savvy Shopper’s Guide to Purchasing Power Tools Online
      • May 23, 2023
    The Kickass Entrepreneur
    • Coaching
    • Book
    • Blog
    • Contact
    • Privacy Policy
    • Terms
    • Disclaimer
    • Facebook
    • LinkedIn

    Input your search keywords and press Enter.