How to Attract -- And Retain -- Staff When You Can't Pay Big Bucks Here are the basics every entrepreneur needs to know about creating an employee benefits package.

Just one year after hiring their first employee, executives at online discount site FatWallet realized they needed more staffers to handle the company's rapid growth. "We needed IT staff and programmers, and we knew that in our area, we'd have to take them from larger companies," says April Kunzelman, human resources director for the Beloit, Wis.-based company.

Kunzelman also knew that to lure talent from more established companies, FatWallet would have to beef up its employee benefits package. "We knew we couldn't compete if we didn't offer, at the very least, health insurance. So we immediately began putting an employee benefits plan in place," she says.