Employee benefit packages for startups are largely dependent on the life stage of the startup. Each stage presents its own unique set of capital requirements to overcome scaling obstacles. Let’s look at employee benefits for startups with Series A Round Funding.
Series A is typically the first round of institutional funding for a startup, usually by venture capital. Series A startups have the underlying foundation of an established startup including a founding team, proof of concept, and customer traction.
So you’ve just raised your Series A. Now what?
Attracting talent, automating processes, and building on your company culture should be at the top of your agenda, including employee benefit packages. Benefit packages are one of the most basic employee engagement and retention strategies. At this stage, you will want to consider including:
- Health Plan Options – Fully Insured, Level Funded or Self Insured
- Dental / Vision Plans
- Life Insurance Plans
- Long-Term and Short-Term Disability Insurance
- Retirement Plans (401k)
- Paid Vacations, Holidays or Sick Leave
- Work Perks – flexible work schedule, gym membership, free meals, company equipment, bonuses, stock options, etc.
From choosing the right employee benefits package for your employees to the day-to-day management of employee concerns and questions, it can seem overwhelming. But it doesn’t have to be. Yes, it’s important that startups need HR strategies, but you don’t have to tackle it all by yourself.
We are a digital-first insurance agency that brings convenience to you, benefits to your employees, and competition to our insurance partners. From online applications to benefits enrollment technology that is integrated with payroll, you and your employees will have a seamless digital experience.
We bring the latest knowledge, technology, and partnerships to bear when we work for you. Get started with a quote today.