Dec 11 2012
Attracting and retaining the right employees may come down to the compensation package. Included in this package are both salary and benefits. Your banking relationship can be a source of some of these benefits. Once reserved only for large companies, free employee banking perks cost your company nothing, and the value these free employee perks bring might help tip the scales when potential employees are weighing your offer against a competitor. Here are some examples of products you can offer your employees for free from banking with us:
Bank at Work
This is a banking package that includes a free employee checking account, discounted rates on mortgages, home equities and other personal loans. This package may also include cash bonuses for employees who sign up for direct deposit and online banking. There are other discounts available as well, including discounts for safe deposit boxes, money orders, etc. Just give us a call to discuss the details, or click here to learn more.
Many banks will offer your employees the same investment advice that is usually reserved for larger high-net worth individuals. This is important because these advisors can help your employees set up retirement plans which will help them in the long term.
Offering a high-deductible health care plan helps you as an employer save significant money on insurance premiums, which can be used to fund a Health Savings Account (HSA) for your employees. Additionally, both employers and employees save money on taxes when contributions are made to an HSA.
With the cost of health insurance constantly rising, this is an important perk worth implementing. To learn more about how HSAs work, read our earlier post here.
Why do banks offer these perks for your employees? Simple, it helps them attract new customers. Do you take advantage of any of these perks? If you’d like to, send us an email at firstname.lastname@example.org and we will help you figure out your options. Please ask us any questions in the comments below.