From worker's compensation to healthcare to snacks, take care of your employees.
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Benefits change based on talent requirements, but you'll always need to provide them to comply with the law and remain competitive. You might not be able to afford much, but it's worth thinking about what you want to offer.
When to offer benefits
Once you're ready to start hiring employees, you should start thinking about benefits. To attract quality employees, you'll need to stand out. However, if you have a stellar founding team and a product with traction, some potential hires might not need frills.
What are benefits
There are necessities and premium benefits. For example, you're required to comply with worker's compensation requirements, retirement and disability, state and federal taxes, and federal family and medical leave.
Healthcare is critical but quality packages are even more crucial for employees with families. You don't need to provide dental and vision, but they are almost a prerequisite in Silicon Valley.
If you want to step your game up, fringe benefits include pet-friendly offices, stocked kitchens, travel stipends, gym reimbursements, and professional development opportunities.
Gusto is a modern, online people platform that helps small businesses take care of their teams. On top of full-service payroll, Gusto offers health insurance, 401(k)s, expert HR, and team management tools.
If you've outgrown Gusto or are looking to combine payroll and benfits with the IT components of onboarding, then Rippling might be right for you. They make it easy to manage your team's payroll, benefits, hardware (computers, phones, etc), and apps — all in one, modern platform.
Zestful is a customizable perk card that can be given to your employees with recurring benefits, spot rewards, and other ways to recognize and reward your team. This would be used in addition to working with traditional benefits administrator.