You create categories for your staff, from Executive to New Hires, offering different amounts of coverage for each category.
Rename, add, or delete categories and amounts to suit your organization
How Much Will It Cost?
(You decide the titles, these are only examples.)
$5,000 per year (you can offer up to $15,000 per year).
$1,000 per year (your choice).
$500 per year (not less than 10% of Executive offer, which in this example is 10% of $5,000 per year)
$200 per year (your choice)
Stipulate a maximum monthly amount until they complete their probation period. This prevents a New Hire from using the total annual amount and then leaving before the probation period is completed.
Offer Milestone Increases at: 6 - 12 months, 2 years, etc.
The Cost for A $500 per year benefit cost translates to about
25 cents per hour.
Is this a reasonable cost to attract great new talent or to retain well trained staff?