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Iowa | Certain benefits allow the company to buy at a lower rate than the general public, making the value to the employee, more than it costs the company. One instance is health insurance, or life insurance- the risk pool allows the employer to buy it for less than the individual could purchase it, so the benefit is more than the cost. The bigger the company, the more these saving add up (a group of 2000 has significantly less risk than a group of 6). That’s how most benefits started, they’ve now become somewhat standardized because people have grown to expect them, and there is also a large segment of society that probably couldn’t even get things like health insurance if it wasn’t watered down in a large pool. | |
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Just a thought about wages and benefits
