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201 GREAT IDEAS for Your SMALL BUSINESS, Third Edition by Jane Applegate

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GREAT 147 IDEA: Tailor Benefits to Employees' Needs

One size definitely does not fit all when it comes to offering employee benefits. Every company has a distinct group of employees with varying personal lives, professional goals, and priorities.

While big companies may offer the same insurance benefits and options to everyone, small companies have an advantage in being able to tailor benefits to their employees' specific needs. In many cases, your employees are covered by their spouses' insurance benefits, and you won't need to duplicate coverage.

If your business is really small, consider giving each employee a fixed amount of money each month that they can use to buy a particular benefit. A single person may want dental insurance, but a young ...

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