With an educational background in marketing, Bill Scuorzo heads AndAme Investments, an investment and holding company that provides funding for startups and budding small businesses. Bill Scuorzo is also the president and CEO of BCG Advisors, an investment company that helps individuals and small businesses reduce risks and increase revenue through its wide range of investment solutions, from individual and commercial insurance products to risk management solutions and employee benefit plans.
Employee benefits plan comprises various forms of non-financial compensation that employers provide to employees besides their basic salaries. As employers become increasingly aware of the relevance of employee benefits in boosting employees’ commitments and loyalty, they have to consider certain criteria that will enable them to meet employee demands for supplemental financial options and scale up revenue at the same time.
One major highlight of an ideal employee benefits package is that it must align with the overall business objectives. Employee benefits packages comprise different business expenses, so a benefits program can deviate from the core business goal of maximizing revenue. Employers should focus on core benefits such as life insurance, health insurance, and retirement plans and amplify low-cost benefits package that incentivizes performance to limit the resources spent on employee benefits programs.
Since employee benefits are aimed at recruiting and retaining high-performance staff, it is, therefore, necessary for business owners to analyze competitiveness. Recruiters should endeavor to review their peers’ employee benefits packages to gain data insights, which will help them create improved benefits packages to gain a competitive advantage in recruiting situations.
Bill Scuorzo 