Article Link: http://exchangepress.com/article/find-attract-and-retain-workers-with-affordable-benefits/5016114/
How can any child care center, for-profit or non-profit, hope to compete with large companies whose compensation and motivation programs have grown so complex that a whole new category of software, incentive compensation management, is required? Many child care center owners and directors have discovered that employee benefits can often eliminate the need for incentive compensation or even time sheets or time cards. Providing benefits, things for employees that, if they purchased them for themselves, would normally be considered personal or family expenses, are well-proven motivators. And, best of all, the cost of providing employee benefits, a special type of fringe benefit, is often tax deductible.Whether for-profit or non-profit, a child care center can usually deduct the cost of providing benefits such as accident and health plans, group term life insurance, adoption assistance, dependent care assistance, and educational assistance. Adding to the value of many of these benefits is the fact that the cost of many of them can often be excluded from the recipient’s income.
Surprisingly, survey after survey shows that it is not money alone that attracts new workers and keeps existing employees on the job. It is the benefits. And now, thanks to our unique tax laws, ...