When it comes to benefits administration, mistakes pertaining to health insurance, Medicare, and Social Security tend to be the most expensive. (Photo: Shutterstock)
Small business owners understand the value of offering benefits, but some struggle to afford them, and businesses can pay a high price tag for making mistakes in administration of benefits, a new report finds.
The report was published by Skynova, an online invoicing company. In a survey of 266 small-business owners, the company looked at what benefits were most frequently offered, what were the most expensive benefits, and how they felt employees valued their benefits. The study also looked at surprise costs and the costs of mistakes in compliance and accounting.
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