In an increasingly competitive job market, small and medium-sized businesses (SMEs) must compete with larger businesses to attract and retain talent. However, benefits are often considered a superfluous expense by SMEs, when they can actually be a real asset in attracting, motivating and retaining employees. Employee benefits include a wide range of benefits and benefits, such as social protection, benefits in kind, savings plans, and wellness programs. In this article, we are going to look at the different types of benefits.
Social protection includes health insurance, supplementary pension schemes, death insurance, disability insurance and pension insurance. Employers can offer complementary health coverage, offer access to teleconsultation services, or even cover part of the transport costs for employees.
Employers can cover up to 50% of the contribution for supplementary health insurance. For pension plans, the amounts vary depending on the proposed retirement plan.
In-kind benefits are non-monetary benefits that an employer offers to its employees in addition to their salary. These benefits can take several forms, such as the provision of a company vehicle, the assumption of part of the accommodation costs, or even restaurant tickets. In-kind benefits allow employees to save on current expenses, which can contribute to their financial well-being and therefore their motivation. Additionally, they can help improve the quality of life at work, which can promote employee engagement and loyalty.
Employers can offer meal tickets, exempt from social security contributions up to €5.55 per day worked. The benefits associated with the company car are also exempt within certain limits.
Employee savings is a device that allows employees to build up savings from their remuneration. It can take several forms, such as the Business Savings Plan (PEE) or the Collective Retirement Savings Plan (PERCO). For example, employers can supplement the Business Savings Plan (PEE) up to 3 times the amount paid by the employee, within the limit of 8% of the Annual Social Security Ceiling (PASS). Employers can also pay an incentive bonus, which is exempt from taxes and social security contributions within certain limits.
Employee savings allows employees to benefit from a long-term income supplement, while benefiting from an advantageous fiscal and social framework. For the employer, employee savings can be an effective way to attract and retain employees, offering them a future perspective and a commitment to the success of the company.
These are benefits aimed at supporting employees with dependent children or family members, such as parental leave, vacation vouchers, childcare benefits, etc. Vacation vouchers, for example, are exempt from social security contributions up to €497 per year and per employee.
These are benefits aimed at helping employees find housing, such as housing benefits, rental guarantees, mortgage loans at preferential rates, etc. For example, employers can offer mortgage loans at preferential rates, exempt from social security contributions within certain limits.
These are benefits aimed at facilitating employees' home-work trips, such as public transport subscriptions, company bikes, mileage allowances, etc. We also wrote an article on the Sustainable Mobility Package, which is exempt from social security contributions and taxes up to €700 per year and per employee.
In conclusion, benefits are powerful tools for attracting, motivating, and retaining employees. SMEs can offer these benefits without significantly impacting their budget. In addition, these benefits can help improve the quality of life at work and strengthen employee engagement. SMEs that integrate employee benefits and employee savings into their recruitment and retention strategies can thus stand out from their competitors and attract the best talent.
