News | September 12, 2019

FSA Administrators, Clarity Benefit Solutions, Shares Employee Benefits That Tech Start-Up Companies Should Be Offering

New York, NY /PRNewswire/ - FSA administrators, Clarity Benefit Solutions, shares employee benefits that tech start-up companies should be offering.

Tech start-ups are in a unique position to attract and retain talent. These progressive companies are employing unique and innovative ways to secure new talent and ensure they remain active and engaged for the long haul.

Offering benefits that ease stress are top-of-mind with younger-generation employees that are likely to work for a start-up. Work-family balance is paramount. In response, start-ups are working to relieve some of these pressures with perks such as childcare centers, mobile spas, errand-running services, and haircuts.

Flexible work schedules are also vital to start-up company benefits offerings. Long commutes exacerbate stress, leaving employees exhausted before they even arrive at work. Studies have shown that employees who work remotely have higher levels of productivity than those who commute daily. They also exhibit a higher level of workplace satisfaction. Plus, they have low overhead—providing start-ups with even more savings. If commutes cannot be avoided, offer a commuter benefits plan to help employees save on commuting costs by dedicating pre-tax dollars to eligible expenses such as mass transit and parking.

Start-ups should also tout benefits that promote a healthy lifestyle. Employees who at the peak of their health are productive and happy, which is a boon to the company. Studies show that nearly half of employees desire health insurance over a pay increase. Start-ups that are invested in its employees' physical and mental health are more successful. There are also indirect benefits to initiating wellness programs, such as fostering trust between coworkers, social connection, and a sense of inclusion. This in turn can fuel both employee collaboration as well as higher levels of productivity. Another benefit that promotes wellness is an FSA. This triple tax advantage benefit can help employees pay for expenses for things that keep their health and wellbeing high.

Benefits that make learning a priority are also important. After all, technology is constantly evolving, and it is an absolute must for tech start-ups to be on the cutting edge. Competition can be fierce in this market sector, and employees should always be looking to expand their repertoire of both skills and knowledge. Offer tuition reimbursement programs and student loan repayment options.

It is also necessary to reach out to employees to determine their wants and needs—especially with tech start-ups since the niche can be highly specialized. Encourage feedback and use this information to plan the best benefits moving forward.

About Clarity Benefit Solutions: Clarity Benefit Solutions FSA Company provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.

Source: Clarity Benefit Solutions

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