Become employer of choice

When you hear the words "hidden paycheck," you and your employees might associate it with health benefits, 401(k)s and IRAs.

Human resources professionals often use the term "hidden paycheck" to refer to the employer's contributions to employee benefits of which employees generally are unaware.

Let's take a moment to quickly review what qualifies as hidden paycheck items. The first few are state and federally mandated items such as:

Social Security

--The cost is shared equally by the employer and employee.

--The maximum wage base for the Social Security tax is set annually; if an employee earns more than that amount, the excess is not taxed.

Workers compensation

--Fully funded by the employer.

--This is a state-based program that provides medical treatment, wage-loss reimbursement, vocational rehabilitation and death/burial benefits to victims (or surviving dependents) for industrial accidents and occupational diseases.

Unemployment insurance

--This is a combined federal and state program that began during the Great Depression.

--Unemployment benefits are awarded to individuals who are ready, willing and able to work and unable to find suitable work. The cost is shared by the employer and employee.

These are the more commonly known items:

--Health insurance.

--Prescription drug insurance.

--Dental insurance.

--Vision insurance.

--Commuter benefits such as parking permits, transit fare, meter cards, etc.

--Retirement/pension plan, in some cases 100 percent employer paid.

--Employer match to employee 401(k) contributions.

--Term life insurance.

--Accidental death and dismemberment insurance.

--Short-term disability insurance.

--Long-term disability insurance.

--Long-term care insurance.

We are also familiar with paid time off, incentive pay, tuition assistance and company paid socials.

Most small business owners can't afford to give their employees all of the perks listed, but there are several on the list that you'd be surprised that you can offer, and others that are mentioned below that would "add value" to your company and can benefit in helping you become an employer of choice.

Some of the additional insurances, such as long- and short-term, are great to offer and can have little or no cost for the employer. For example, offering direct deposit provides a convenience to your team members.

Partnering with local businesses to offer a discount or a "free" item to your staff will set you apart. Health clubs generally are supportive of a discounted membership program, and in many cases without any financial commitment from the employer. "Lunch and Learn" programs with free products or special offers are also great no-cost ideas.

The most beneficial hidden paycheck programs involve partnering with businesses that have shared interests or sell a product that would be a good fit for your staff and theirs.

I have worked in hospitality for years, and we made ID cards that could be used at area businesses to get a percentage off or a free item. Our program included a chiropractor who offered a free consultation and first adjustment, a bank that offered free checking accounts with free checks, a lunch spot that offered a free soda or free upgrade in order size, and a dry cleaner that gave 20 percent off. In exchange, we offered them a discount on a stay or on dining at one of our restaurants.

We also were able to get some national companies involved for cutlery discounts for the culinary staff, a computer company offered a price break and a shoe supplier give a discount as well. These were all at no cost to the employer.

An added bonus is payroll deduction through some of these companies to offset the more expensive items.

The possibilities truly are endless. As a small business, it is easy to look at these lists and dismiss them thinking you can't afford any of the items because you're not big enough.

As you can see, that is no longer true. You can be a small business with perks and added value, making you an employer of choice.

Pat Eardley is a human resources adviser with more than 16 years' experience in human resources management. She supports small-business owners, allowing them to have more time by focusing on creating a successful business environment for them and their employees. Find out more at www.pateardley.com.The Job Coaches are experienced volunteers from the Center for Women's Job Counseling Program. Ask them questions by calling 763-7333 or e-mailing info@c4women.org. If you would like further assistance, make a counseling appointment; a donation of $35 is requested.