Employee benefits and perks include all non-wage benefits, like health insurance and paid leaves provided by the employer. There are several employee benefits mandated by federal or state law, such as minimum wage, overtime, and specific insurance policies. Additionally, there are other kinds of employee benefits that employees may provide even it’s not offered. Knowing all of these is crucial if you want to get the most out of your job, helping you reap the benefits you deserve from your hard work. Here are the top employee benefits and perks you can enjoy.
Extended Healthcare Benefits
The national government requires employers with more than 20 workers to provide extended healthcare benefits to past staff members and their families for 18 months. Some states also have additional requirements for this, so ensure to check with your state for the specific conditions that will protect you and your family if you lose your job. Hiring personal injury lawyers can also ensure your financial security if you ever suddenly get into an accident at work or on your way there by finding the best options for you.
Disability and Workers Compensation
Disability and workers’ compensation coverage ensure that an injured or sick employee continues to get paid until they become well enough to return to work. Each state has different disability and workers’ compensation requirements for companies. Additionally, some businesses are exempt from offering workers’ compensation, but most payroll workers are eligible for the benefit coverage if they get injured while on the job.
However, only a couple of states require employers to give disability coverage to employees.
Health Insurance Coverage
Most benefit coverage plans include health insurance coverage for visits to primary care doctors, specialists, hospitalization, and emergencies. Some employers may also offer alternative medical care coverage like chiropractic services, wellness, prescription medicines, vision, and dental care. However, what each employer may provide varies.
Generally, employers are required to provide healthcare to employees working 30 hours per week or more.
Paid Holidays Although no law requires employers to give employees paid leaves for the holidays, many employers ensure that their workers get time off for the festive season, paid or unpaid. Others offer overtime pay for employees willing to work on holidays.
Although employers aren’t required to offer severance to employees that they fire due to downsizing or redundancies, many want to help workers who they would otherwise like to keep if their budgets could. That’s why many choose to provide severance pay and other benefits to laid-off talent.
Flexible Breaks and Schedules
Some employers offer flexible paid work schedules to attract the best talent on the market, including 30-minute or longer breaks for resting, recreation, and fitness aside from the employee’s traditional lunch break. Also, recruiters may compensate workers for meals and events, including face-to-face time with prospects and clients.
Some employers or companies increase salaries for all their workers a certain amount every year to keep up with inflation. There are several types of incentive pay that gives workers a chance to earn more than their general wage via a merit system. A common type of incentive pay is via commission as inside sales or customer service employees encourage their workers to upsell clients for a commission.
The federal government requires each state to manage all unemployment benefits for employees—where workers can get paid for a specific period when they get laid off even though they qualify for the job. The amount of unemployment pay varies per state and job position. However, keep in mind that you won’t be eligible for unemployment benefits if you resign yourself or get fired for misconduct.
Whether you’re searching for a new job, contemplating on a job offer, or happily employed, you must review what benefit coverage the employer and company provides to see if it meets your needs—allowing you to reap the rewards to the fullest.