Offering retirement plans, like a SIMPLE IRA, can benefit your business in several ways. First, it helps you attract and keep great employees by showing you're invested in their future. People are more likely to stick around when they know their retirement is being taken care of.
Retirement plans can also give you some nice tax benefits. Your contributions as an employer may be tax-deductible, and setting up a plan could qualify you for certain tax credits.
Finally, it boosts overall employee morale. When your team feels secure about their financial future, they’re more focused and motivated at work, which is a win-win for everyone.