Human Resources Management: Benefits and Retirement Plans

In the general workplace, employee benefits play an increasingly important role in the lives of employees and their families, and can have a significant financial and administrative impact on an organization.

However, the majority of small/medium-sized cultural sector organizations do not have a formal employee benefits plan. Specifically, recent research has shown that less than one-fifth of organizations with under $1M operating budget and half of organizations with budgets over $1M had formal benefits plans.

Providing a company benefits plan for employees shows a caring attitude about their financial security, well-being and peace of mind.