Ask an Expert
What benefits do you provide for your employees or recommend that others offer?
While our benefits have grown over time, I have supplied health insurance and paid vacation since the early days of my practice 16 years ago. In my mind, it was (and remains) a no-brainer that health insurance leads to more productive and happier employees.
We provide health insurance with no payment at all by the employee but do not cover the family at present. While this excludes some potential employees, most like the fact that they don't have to pay for their coverage. Over the years, we have also added various other perks like a 401K plan, paid time off (PTO), profit sharing, and dental and vision coverage. Additionally, we provide a small insurance and disability benefit for our employees.
Do you think that most potential employees view these benefits as a significant reason to join a practice?
I wish that were the case, but in general, the average employee focuses on one thing: salary. On the other hand, most of our employees tend to be a bit more reasoned and perhaps, because of this, join our organization. It is my hope that having better benefits leads to better retention of employees and stronger morale. Having said that, no amount of pay or benefits can overcome a poor work environment, and these are only a starting point.
Who is in charge of the administration of these benefits?
In the early days, my office manager did this job, but as the staff and complexities grew, we outsourced several aspects of it. We now have a full-time HR manager, and she does most of this administration work in conjunction with the various vendors.