There is a school of thought that argues in favor of providing as many discrete benefits as possible to a workforce in the hopes that all staff members will find something they like. By creating a benefit plan that not only allows for choice but is also sufficiently diversified, employers can attract all sorts of candidates depending on what their staffing needs are.
However, it is also important to consider the power of targeted investment. Some companies, rather than creating a smorgasbord of services and products, may instead succeed when they target certain benefits for additional spending in favor of minor ones.
For example, rather than offering child care services, disability insurance, long term care insurance and medical coverage, a business may instead improve the quality of the medical coverage by using funds from long term care insurance. Of course, this should only be done after a careful assessment of a company's needs and the desires of its workforce. Use a benefit consultant to decide how best to go about creating such a set of rewards and compensation for employees.
