There are three main reasons that a company offers a benefits package to its staff:
To aid recruitment A company that offers a comprehensive package will attract higher quality employees.
Improved staff retention The more that an employee is giving up should they leave, the less likely they are to do so.
Fulfil a moral obligation Your employees spend as much of their waking life at work as they do with their family, sometimes more. In the event of life changes occurring, a modern employer will feel obligated to ensure that the employee or their family are looked after.
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