Effective employee benefit programs are a fundamental part of most organizations, large and small, and in any industry. They are especially important in today's workplace as tight labor markets challenge employers' ability to attract and retain the best employees.

A comprehensive benefits package is important and valuable to both employers and employees in today's workplace. For employees and their families, benefits provide important assistance and support essential areas of their lives including health, financial security, time off and more. Benefits also play a role in employee productivity, an important factor in bottom-line success.

In today's workplace, two of the most important issues involving both employers and employees are benefit costs and flexibility to accommodate individual needs and situations. Benefits are a significant cost to employers. On average, benefits are 28 percent of employee compensation cost.

The credit union advantage is one benefit that employers can add to their benefits package without incurring any additional cost.