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5610 Ward Road, Suite 300 Arvada, CO 80002
9200 E. Mineral Avenue Centennial, CO 80112
Phone: 303-252-0852
Website: www.walshfinancialsolutions.com
July/August 2019
Help Recruit and Retain Top-notch Employees
The job market is competitive and qualified candidates are becoming harder to find. In this environment desired employee benefits may play a large role in a recruit’s decision to choose you or a competitor.
As an employer, you may subsidize employee benefits or let employees pay for them through payroll deductions. There are two basic ways to structure your benefit spend: menu-based and dollar-based.
Benefits by Menu
When you offer a menu of benefits to everyone. This has been the traditional model of employee benefit offerings, but it may not work best for employers with a diverse workforce.Benefits by the Dollar
When you set a dollar amount for the benefits you’ll subsidize, then provide more flexible benefits for diverse employees. For example, a married 55-year-old employee may value long-term care insurance while a single Millennial may be better served with disability income insurance.The Right Package
One size won’t fit all, but you can find your fit with a little preparation. List your benefits and their cost, but don’t forget to include any tax advantages your business may get. Do a little research and learn what peer companies offer their employees. Then, survey your employees and ask which benefits they value from most to least.Once you understand your employees’ wants and needs, work with your insurance professional to put together a benefit package that works for you and your business.
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Advisory Services offered through Walsh Financial Solutions or Vanderbilt Advisory Services. Securities offered through Vanderbilt Securities, LLC. Member FINRA, SIPC. Registered with MSRB. Walsh Financial Solutions and Vanderbilt Securities, LLC are separate and unaffiliated entities. Clearing agent: Fidelity Clearing & Custody Solutions. Insurance Services offered through Vanderbilt Insurance and other agencies. Supervising Office: 125 Froehlich Farm Blvd, Woodbury, NY 11797 631-845-5100
For additional information on services, disclosures, fees, and conflicts of interest, please visit www.vanderbiltfg.com/disclosures
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