Offering Employee Benefits to Help Find and Maintain a Quality Arizona Workforce

No matter the size of your company, it’s important to keep your employees safe and happy. Luckily, Aegis Financial Partners, LLC can help you find employee benefits packages that satisfy your employees and your company’s budget.

What is the Importance of Employee Benefits?

Employee benefits packages help supply your employees with perks such as and . In this age, simply paying a salary isn’t enough to entice key employees to your business. You must also offer an enticing benefits package in order to find and retain excellent, dedicated employees.

What Employee Benefits are Taxable?

Most employee benefits are taxable, but there are certain exceptions. If a benefit is not explicitly stated as an exclusion, then that benefit can be taxed. Common exclusions can include accident and health benefits, employee discounts, working condition benefits and retirement planning services.

Are Employee Benefits Required?

Some employee benefits are required while others are not. In general, the US requires businesses to provide their employees workers compensation, time off to vote, short-term disability (if the state has it) and federal family medical leave. Employee benefits that are not required may be the most enticing, however. Benefits that aren’t typically required but desired include:

• Group health plans
• 401k plans
• Compliance/ERISA protection
• Buy-sell agreements
• Executive life insurance plans
• Cash Balance and Profit sharing
• Multiple employer plans

Adding benefits to your company’s employee benefits package will draw in candidates who are more likely to work hard and stay longer.

How Much Do Employee Benefits Cost?

On average, the cost for total benefits for civilian workers is around $11.48 an hour per employee. However, the cost of replacing an employee can be thousands of dollars when it comes to training and other factors.

What Can We Do?

Set your company apart by offering great employee benefits packages and lower your turnover rate by finding employees who will stay. Call Aegis Financial Partners, LLC today at 480-565-6483 and talk to an experienced agent about what employee benefits plan your company deserves.