These costs make it essential for you to get the most from the dollars you spend. Yet the desire to save can lead to costly errors that can get your organization in financial trouble. The most common mistakes are absorbing the entire cost of benefits, covering non-employees, not telling workers the cost of benefits, and providing unnecessary benefits.
Thankfully, there are plenty of benefits you can provide your employees that are inexpensive, effective, and meet legal requirements. Here are just a few of them:
- Discounts from local merchants.
- Free lunch-time seminars for employees.
- Supplemental health insurance plans that are administered through payroll but are paid for by the employee.
- Pre-paid legal services plans administered through payroll but paid for by the employee.
- An interest-free computer loan program.
- Allow employees to buy excess inventory from your organization at a significant discount through sample sales or employee auctions.