Because bitcoin is traditionally viewed more as a investment or savings vehicle, it is often simpler to envision it fitting into your total compensation strategy as part of the retirement savings plan benefits as opposed to your health and dental package.
For those companies that want to approach BPP more as an optional reward or supplemental component to a benefits offering we have some ideas. Bitcoin could integrate into a rewards strategy by being positioned more as a perk.
With the BPP you are able to offer bitcoin as an incentive, either as an elective benefit inside your health / wellness offering or as a alternative way to pay out bonuses. Think of it as a bitcoin benefit plan!
Differentiate your employee benefits strategy by offering employees by including a regular recurring non-matched purchase. A small amount of bitcoin offered by employers is a great incentive to introduce staff to the technology, and encourage learning. It also is a great way to stand out in the marketplace by being unique.
Bitcoin is WSA eligible expense. Including bitcoin in your list of eligible taxable benefits is another way to appeal to staff who may not need flexible spend dollars for gym memberships or other lifestyle benefits.
Bonuses being paid into RRSPs is an option many employers in Canada offer. This concept is the same. For employees looking to increase their bitcoin holdings, choosing to take bonus payouts directly as bitcoin could be an exciting twist on a performance reward.
A bonus paid out into the BPP would still be subject to payroll deductions prior to dispersal, making it a great way for top performers to celebrate their achievement by stacking some extra bitcoin.