#3: Paid Sick Leave.: BLS Says

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#3: Paid sick leave.

Paid sick leave is another popular benefit among employees (and may be required in your

jurisdiction). Several cities and states require employers to provide paid sick leave, so check your

applicable law to ensure compliance.

Offering paid sick leave may be more affordable than you think. The BLS says that the average

cost to small employers for offering paid sick leave in 2018 was 20 cents per hour worked (or 0.7

percent of total compensation). The benefits of a paid sick leave program may outweigh this

cost. With paid leave, sick employees are more likely to stay home, decreasing the spread of

germs in the workplace. This could limit additional employee absences and help to minimize a

dip in productivity.

#4: Health insurance.


Health insurance can be a significant expense for employers, but it's a common benefit

employees have come to expect. Options such as consumer-driven health plans (CDHPs), which

are typically high-deductible health plans tied to a health savings account, are generally less

expensive than traditional health plans. Additionally, small employers who meet certain

eligibility criteria and who offer health coverage through the Small Business Health Options

Program ("SHOP") Marketplace may qualify for a Health Care Tax Credit.

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