What is the Benefit of offering Benefits?
Employers are constantly on the hunt for the right job candidates who will propel their organization to success. Once you find the people you need, you have to convince them that your company is a better place to work than your competitors. A strategic, quality benefits package can help you attract and retain those top employees.
Employees value a well-rounded selection of benefits, and health insurance, life insurance, vision and dental coverage are a few of the plans that you can consider offering. When your benefits package includes a combination of health insurance, dental and vision coverage, you will have employees who are able to take a proactive role in managing their health. They will have easy, affordable access to health care, reducing absenteeism due to illness.
When they are on the job, healthy employees are more productive than sick ones. It’s beneficial for your company’s productivity and your employees when they have access to medical coverage and time off when they are sick.
Even if you think you can save a little money in the short-term by skimping on employee benefits, you will eventually face the consequences through a lowered ability to attract high-achieving employees, increased difficulty retaining your top performers, and lowered morale and productivity.
Offering a quality array of employee benefits will pay off through a stronger, more productive workforce with employees committed to your company.
So, what are the top 5 reasons a company should offer benefits to employees:
- Minimize your Turnover Rate-It is difficult for a business to make serious progress when employees are constantly coming and going. Fortunately, offering benefits packages is often enough to make employees stick around for the long run.
- Recruitment-To bring the correct individuals on board, you need to offer benefits like paid vacations, Health Insurance, Dental, Vision. Attracting and retaining talent is the #1 reason in creating a strong foundation for any business.
- Better Morale-By understanding and addressing the needs of your workforce employers will have employees that are dedicated and take their work seriously. Nothing can hurt productivity more than a bad attitude.
- Healthier Staff-Employers that offer health insurance have employees that have regular checkups and take advantage of preventative medical steps. The result is fewer sick days and higher productivity.
- Job Performance -The long-term advantages of offering benefits is tremendous and employers that do offer a robust benefits package have employees that work harder. This will keep any business poised to acquire true professionals who are in it for the long haul.
It has been my pleasure over the past 13 years helping local employers develop a strategic benefits package that works for their budget and offers attractive options to your employees. The question is, can you afford to let your competition benefit from offering more and better benefits than you do?