It is customary for most families to offer paid major holidays (New Year's Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving, Christmas) and two weeks paid vacation within a year of service. You might also consider providing five days of sick leave and two days of personal leave.
One important and attractive benefit may be health insurance for your caregiver. Most large health insurance companies offer plans for individuals. You can contact such a company directly or talk to an insurance agent in your area.
In addition to more standard benefits, weigh the value of other aspects of your total compensation package. For example, if you are hiring a live-in caregiver and can provide separate quarters for her (rather than just a room and bath down the hall from family members), she will undoubtedly recognize the value of having such privacy. Likewise, it is an additional benefit if the caregiver has access to a car for her own use as well as for family-related errands. If the caregiver is using her own car to transport your children, you should consider paying a car allowance of a certain amount per week or reimbursing her on a per-mile basis. You may also want to make sure her auto insurance coverage includes transporting your children. If not, you may want to provide that coverage for her.
You can also enhance a live-in arrangement by providing a private phone line (with the caregiver expected to pay for her long distance calls), a television, or similar amenities. You will quickly discover that a good caregiver is worth a great deal. You'll want to be as creative and generous as possible to keep her in your employ.
How much will all this cost? Your total costs for employing a nanny will depend on a variety of different factors, including the experience and qualities you require,
the base salary you pay your nanny, the tax requirements of the specific area you live in, and any additional benefits you might decide to offer. m
The budget sheet on the following page will give you rough estimates of the ^
expenses you might expect to take on when you hire an in-home caregiver.
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