When businesses are birthed, it is typically the owner who gets things started. Once a business experiences a measure of success, all of a sudden the employer is forced to figure out how to manage the small business and how the human resource aspect should be run. This can be an exciting, yet painful, process to try and figure out all the legalities of hiring employees. Specifically, what is required by law for an employer to provide to their employees and what are optional benefits that employers choose to provide.
reasons most employers offer benefits is to make employees feel appreciated. Benefits are also used as a recruitment and retention tool that are part of an overall compensation package.
When putting together a benefits package, employers need to know what the laws are that govern employee benefits and have an understanding so the laws are complied with. Once the laws are understood, then comes the process of negotiating with vendors to find the most cost effective product.
There can be confusion between what benefits are required by law and what benefits are part of a company compensation package. So what benefits are required by law?