Health insurance, gym stipends, PTO — standard benefits packages may not sound exciting, but job candidates young and old depend on traditional perks to plan and manage their lives. They need paid time off to see family and friends. They need health insurance to stay fit and financially stable in emergencies. The classic 401(k) doesn’t have the same curb appeal as unlimited PTO or a fat travel stipend, but as young people save more for retirement than their parents and grandparents did, a 401(k) may be the most coveted benefit of all.
Businesses of all sizes must now compete for talent with every industry. Clothing stores need tech-savvy developers; technology companies need suave customer service specialists. The best of the best get to be choosy about their employers, which means employers can’t afford to overlook the basics when creating benefits packages.
Read more here: https://www.inc.com/rhett-power/3-benefits-of-offering-a-401k-plan-as-a-small-business-and-how-to-do-it.html