HOW Benefits Work Together TO ATTRACT & RETAIN HAPPY EMPLOYEES

Required benefits that ENSURE compliance with laws

 

WORKERS’ COMP 
if your employees get hurt or become sick due to their job. 

UNEMPLOYMENT INSURANCE 
if your employee involuntarily loses their job. 

SOCIAL SECURITY AND MEDICARE PAYMENTS 
that share costs with your employees. 

HEALTHCARE INSURANCE 
to help cover doctor bills and other and medical expenses. 

FAMILY/MEDICAL LEAVE
if you need to take unpaid time off for health- or family-related reasons. 

Expected benefits that ENHANCE wellbeing  

 

DENTAL INSURANCE
About 90% of employers with 500 or more employees and about 50% with any number of employees offer dental benefits. 

VISION INSURANCE
87% of employees say they are likely to stay with an employer that offers high-quality vision benefits. 

MENTAL HEALTH COVERAGE
73% of U.S. workers want mental health coverage. 

DISABILITY INSURANCE
25% of all 20-year-olds will become disabled and unable to work sometime before reaching the age of 67. 

HEALTH SPENDING ACCOUNTS 
According to the Bureau of Labor and Statistics, employee access rose from 36% in 2012 to 43% in 2021. 

RETIREMENT PLAN
52% of employers offer a 401(k) or similar type of retirement plan. 

LIFE INSURANCE 
Aside from employer-paid basic life, more employees are  considering voluntary life insurance in the wake of COVID-19. 

 

Flexible benefits that ENRICH work-life balance 

 

REMOTE WORK ARRANGEMENT
70% of employees prefer to work remotely. 

FLEXIBLE WORK SCHEDULES 
8 out of 10 workers say a flexible work schedule is important.  

UNLIMITED PTO
At least 70% of Gen Z and Millennials say it’s key to staying or leaving a job. 

DEPENDENT CARE ACCOUNTS
A care.com survey reports 56% of employers offer child care benefits. 

FITNESS OFFERINGS
53% of employers offered more on-demand fitness options. 

 

Extra benefits that ELEVATE job satisfaction 

 

TUITION REIMBURSEMENT
86% of workers who say their employer offers tuition benefits are generally happy at their job. 

LEARNING AND DEVELOPMENT 
57% of workers are interested in upskilling opportunities. 

GIVING PROGRAMS
About 70% of employees say it’s important or very important to work for a company that supports giving and volunteering. 

STOCK PURCHASE PLANS
According to Morgan Stanley “The State of Equity Plan Management in 2022”, 43% of public companies and 35% of private companies provide this benefit.
 

 

Get more information about how our employee benefits team can help you design and deliver a benefits strategy that attracts and retains talent. Contact us today!

 

This material has been prepared for informational purposes only. BRP Group, Inc. and its affiliates, do not provide tax, legal or accounting advice. Please consult with your own tax, legal or accounting professionals before engaging in any transaction.