How to approach creating your first employee benefit package

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I was first head of human resources at two successful start-ups. In both cases, I built HR and human teams from scratch.

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Doing it from scratch means you have to consider everything from compliance to compensation. Often the processes and procedures fell into place before I joined them, so it was my job to evaluate if they made sense.

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One of the most complex and interesting topics I deal with is employee benefit packages. This is a topic that comes up frequently at startups looking to secure a competitive edge when it comes to hiring and retaining talent.

However, it’s also known to get out of hand, and as startups tighten their budgets, I believe we’ll start to see a dramatic reversal of benefits in the coming months.

Founders need to ask themselves what really matters to their business and what benefits best fit their cultural values.

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Virtually every company will have a different take on what should be offered to employees, so founders will inevitably struggle with what works (and what doesn’t). There is no universal benefit package, and there shouldn’t be one, as each company has its own goals and objectives.

Here are four things founders should consider when creating benefit packages:

Focus on what matters most to your people

It is imperative that startups do not try to match what other tech companies are offering. It will be impossible to offer all the new flashy bonuses you come across or provide extravagant packages like Google or Facebook.

For example, Netflix offers unlimited parental leave, which is incredible, but for an early startup, offering this would be intimidating and difficult.


Credit: techcrunch.com /

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