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2TORIAL
Learn2 Choose Employee Benefits (continued)
Step 1: Assess the competition

Since competition for hiring (and retaining) talented employees is fierce, you need to find out what kind of benefits companies like yours offer their employees, and, if possible, try to match or beat the average. If you can't, make sure you emphasize your company's other attributes during the recruitment process.

To find out what the competition is offering, consult the following sources:

Industry newsletters and magazines

The U.S. Bureau of Labor Statistics

Job listings, which often list benefits packages

Personal contacts you have within your industry or related fields

Industry groups and organizations
Of course, your package should also reflect the workers you will (or already) employ. A competitor's employees won't always fit the same profile as your employees. The package should also vary between what full-time, part-time, and contracted employees receive.


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2TORIAL STEPS
Introduction
Step 1: Assess the competition
Step 2: Provide the legal minimum
Step 3: Cover the basics
Step 4: Consider a more complete plan
Step 5: Check out inexpensive extras
Step 6: Shop around for the best options

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