Although recent surveys indicate that employees want to work for businesses who provide social space, regularly catered lunches, and — most importantly — great coffee, sick leave and other health benefits continue to influence employee loyalty. About half of all workers report that their benefit package keeps them working for the same employer, regardless of their satisfaction level with their place of employment.
Human resource benefits administration can either be handled by an in-house employee or by an outside company that handles the administration of employee benefits for small business owners. With group health insurance now a requirement for any company that employs over 50 employees, some small businesses struggle to pay insurance premiums and to offer an attractive wage and working conditions at the same time.
More than half of all small businesses do offer paid time off to full-time workers, along with paid holidays and paid vacation time. Managing employee benefits, researching new benefit and insurance packages, and making sure that computer software is running smoothly are all the function of the human resource benefits administration department: finding solutions is part of the job description for these in-demand professionals.
With increased availability of web based software for human resources, many companies find that they are able to cut costs by relying on outside companies for their human resource functions, or that they are able to streamline the number of employees in the human resources department. Group health plans and human resources software solutions can change in an instant, and conscientious companies strive to remain current on employee benefit options.
Finding available office space, starting a business, finding qualified employees who are loyal and hard-working, and keeping these employees happy with group health plans that are cost-effective can be difficult, but businesses determined to thrive often find ways to meet all of these goals. In a competitive economy, happy employees can mean the difference between success and failure for any business venture.