75% of employees cite this as a reason to stay with their employer.

Why Employee Benefits Matter
A well-structured benefits package is more than just an add-on—it’s a powerful tool for attracting top talent and keeping employees engaged. Competitive benefits enhance job satisfaction, improve retention rates and contribute to overall productivity. In a job market where candidates have more choices than ever, a thoughtful benefits strategy can set your organization apart.

Steps to Build an Effective Benefits Strategy
Gather and Analyze Data

• Start by evaluating your current benefits offering and identifying gaps.
• Conduct surveys, focus groups and exit interviews to understand employee priorities.
• Align your benefits strategy with key business objectives, such as talent retention, growth and budget efficiency.

Benchmark and Assess

• Compare your benefits package to industry standards to ensure competitiveness.
• Consider workforce demographics to tailor benefits that meet the diverse needs of employees.

Make Smart Implementation Decisions

• Budgeting: Benefits typically account for about 30% of total employee compensation, so setting a realistic budget is essential.
• Procurement Options:
  • Professional Employer Organizations (PEOs): Outsource HR functions for access to top-tier benefits and compliance support.
  • In-House Administration: Maintain full oversight over benefits with dedicated HR teams and technology investments.
  • Benefits Software: Use platforms with self-service portals, payroll integration and compliance tracking for efficiency.

Offer Flexibility While Maintaining Compliance

• Provide customizable benefits that can support remote work options, flexible scheduling and wellness programs to meet diverse employee needs.
• Stay compliant with federal and state regulations, including ACA, FMLA, ERISA, COBRA and HIPAA.

Launch and Maintain an Effective Benefits Program

• Communicate clearly with employees about their benefits package and how to utilize it.
• Implement feedback mechanisms and conduct regular evaluations to keep the program relevant and effective.

The Impact of a Strong Benefits Package

• Attract and Retain Top Talent: Stand out in the job market with competitive offerings.
• Boost Employee Morale and Productivity: Happy employees are more engaged and productive.
• Strengthen Your Employer Brand: A well-rounded benefits program fosters loyalty and enhances your company’s reputation.

Work With the Right Experts
Managing employee benefits can be complex, but working with a trusted PEO like TriNet can simplify the process. TriNet offers access to premium insurance carriers, expert compliance support and user-friendly technology that streamlines enrollment and benefits administration—whether you’re outsourcing or working with an existing broker.

Investing in a strategic benefits package isn’t just good for employees—it’s good for business. Take a proactive approach to benefits planning so your organization stays competitive in today’s evolving workplace.

Employees, especially top talent, value quality benefits. Competitive salary packages are an essential component in securing leading candidates, but they might not be enough to keep those talented individuals happy. Traditional workplace perks are good, but unique and innovative benefits can significantly add to the appeal of a job.

When asked, 80% of employees said they would prefer additional benefits over a pay increase, according to a report by Glassdoor.

What types of benefits are most attractive to top candidates? Competitive compensation packages often include many types of employee benefits such as healthcare, retirement and flexible and health savings accounts.

According to a 2024 New York Life study, the top five benefits employees are most interested in receiving are:

• Employer match on a 401(k) or other retirement savings plan
• Supplemental health insurance coverage
• Flexible work arrangements
• Mental health resources and access to support services
• Long-term care insurance

In this guide, we will examine the many types of employee benefits and why providing a diverse array of benefits is essential to a thriving business.