The right benefits package isn’t just about perks; it’s about building something your team actually values.
In this episode of Small Business Smarts, Victoria Jordan connects with ADP’s Laci Buzzelli to learn how to design a benefits strategy that fits the team and budget.
For more information, visit ADP.com/SPARK
Laci Buzzelli, vice president and general manager of small business services, ADP
The right benefits package will set you apart from other employers and also help with retention.
Victoria Jordan, founder of PureWork Studio
When small business owners like me are ready to offer employees benefits. How do we begin to think about what to offer?
Laci Buzzelli
That's a great question, Vicky. For small business owners, the first thing to find out is what benefits are legally required. In certain states, for example, once you hit a certain number of employees, you're actually required to offer health benefits or a retirement plan. Beyond that, I encourage you to ask your teams what perks would matter the most to them.
The right benefits package will set you apart from other employers and also help with retention.
Victoria Jordan
So like send a survey and let them share what they actually want as benefits?
Laci Buzzelli
Exactly. Then you can use those results to build a benefit offering that's most valuable to your employees. This can also serve as a great employee retention tool.
Victoria Jordan
I love the idea of this driving higher employee retention. Tell me more of what you mean.
Laci Buzzelli
Sure. Well, once you know what benefit offerings are most important to your employees and also what you're legally required to offer, you can start to explore building a benefit package that your employees will truly see value in. For example, if you want a smoothie shop and there's another smoothie shop down the street, how do you attract the best workers to your business and keep them in your business over the guy down the street?
Well, if you offer health insurance and they do not, they're more likely to want to stay with your business because you're offering a perk that they cannot get other places. You can also offer other voluntary benefits that employees can opt into. Think about things like loan repayment programs or even pet insurance.
Victoria Jordan
Oh. Pet insurance. I never thought of that. I love the idea of having a few “Nice to haves” that don't crush my cash flow. How do I make sure that I'm not overpaying on the basics, though?
Laci Buzzelli
Yeah, absolutely. Great question. You can always shop around, compare multiple carriers, and also explore options where you can bundle lines of coverage with one provider to get additional discounts, and only buy what you need for your team size and your profile. You can also partner with a company like ADP that can do the carrier shopping for you, or even tap into large group level benefits and offload a lot of that administrative and compliance burden.
Victoria Jordan
Having someone else handle the admin sounds amazing. My brain is already full.
Laci Buzzelli
Well remember Vicky, keep it simple and keep it simple for your team too. When you roll this out, you short explanations that showcase the benefits and value to them that you're offering as their employer. Think about things like one pagers, quick videos, and simple comparisons so people actually understand what they're getting and how they can use it.
Victoria Jordan
That makes a lot of sense.
Laci Buzzelli
And always remember, you don't have to treat this package as permanent. Once a year, ask for feedback and analyze what people are actually using. You can then trim any unused options and reinvest in the benefits that your team really appreciates.
Victoria Jordan
I love that. Start small. Listen. Get feedback. Tweak. This makes building a benefits package feel way less intimidating. Laci. Thank you so much. This was incredibly helpful. When it comes to benefits. Find out what's required. Listen to your team and create a right sized, understandable package that fits your people and your budget. For more, go to ADP.com.
