Offering Employee Benefits: The Pros A benefits package, especially one that offers good health insurance coverage (including dental and vision), helps attract and retain quality employees. Businesses get the tax advantage of deducting plan contributions, including health insurance, life insurance, and pension plans.What are traditional employee benefits?
Traditional benefits are typically medical and health-related, including life insurance, private medical insurance and pension contributions. Non-traditional benefits include newer financial incentives, such as childcare assistance, as well as workplace benefits including access to healthy food and on-site sports facilities.What is a typical employee benefit package?
A typical benefits package includes paid vacation or sick days, health insurance, life insurance and pension plan contributions. According to BLS statistics, private industry employees, wages account for 69.8 percent of total compensation while benefits account for 30.2 percent.