As an employer, one of the best ways to hire and retain the best employees is by offering a robust health insurance and benefits package. There are a number of benefits to offering these types of incentives:
- Tax deductions
- Avoiding rehire search and training costs
- Enhances the level of productivity among employees
What types of insurance and benefits can employers offer?
Some employers want to help employees avoid health insurance costs so they absorb the entire cost of the insurance for the employees and their families. Additional ways to help employees is by offering low premium options that are full of incentives.
Other employee benefits that are beneficial to retaining employees include FMLA, disability insurance, retirement plans, life insurance, paid time off (PTO), stock options, wellness programs, tuition reimbursement, telework benefits and more.
There is no better feeling for an employee than to feel valued. In most cases, great benefits increase job satisfaction, foster loyalty and a lower turnover rate. When employees know their employer cares about their well-being, they work hard to develop great working relationships and work habits which develop a strong culture of productivity. Employees who feel connected to the brand are mentally and physically happier, lessening the chances of employees calling out sick or taking unnecessary days off.
Structuring a great health insurance and benefits package doesn’t happen overnight. It takes research and knowledge on what employees want and need. Getting assistance from a professional firm that understands the nuances of how this works can save time and money. Business owners who leverage this resource can amplify their offerings while distinguishing themselves as a top employer that cares about their employees.
For more information on setting up an employer group health insurance and benefits package, schedule a consultation with our team today.