The safest and most effective way to perform the bench press is with your shoulder blades pulled together and downward. It is also important to balance all pressing movements with pulling ones such as- rows , chin-ups , and cable face pulls which will help improve the shoulder's ability to retract and place them in a safer position when performing horizontal pressing movements such as barbell and dumbbell bench presses.
This video from James Smith, CSCS, demonstrates perfect bench pressing form. Thanks Mr. Smith.