Idea Exchange: How Are You Managing Employee Benefit Costs?

Employee benefits, whether optional or required by law, have financial implications for employers. How do you make sure you are compliant and that your employees are well compensated, while balancing your business checkbook?

In the May Idea Exchange, we asked the Community,;How Are You Managing Employee Benefit Costs?

Here is what our members have to say:

• Outsource Benefits Planning CarlLakeside, sosplcroman, TShirtsNY, and duket, outsourcing saves time and effort, and can help you stay up-to-date on employment laws.

• Add to Cost Calculations Water_damage suggests including employee benefit costs in business calculations. For example, employers can help defray some benefit expenses by accounting for them in your pricing model.

If you would like to read all the responses or see past idea exchanges, visit the Past Idea Exchange board.

Read these guides from Business.gov for more information on employee benefits and labor laws:

• Employee Benefit Plans: What is Law and what is Optional
  An overview of the basic employee benefits that the law requires you to provide, as well as guidance on setting up a more comprehensive plan as a recruitment tool.

• Employee Benefit Laws and Regulations
  This guide helps employers understand what they need to do to supply employee benefits required by law, including Worker' Compensation and Unemployment Insurance.

• Health Care Reform
  Learn more from SBA.gov about how health care reform will benefit your small business and employees.

What is Next for the Idea Exchange?

The current idea exchange'What is one action all businesses should take to prepare for a natural disaster or emergency?Kudos!