Employee benefits can be a great way to make your business stand out. Here are the top five reasons why you should consider offering employee benefits.
Attract Talent
In a difficult job market, a competitive benefits plan can set your business apart. For many, employee benefits are a deciding factor when choosing a job. 60% of individuals reported that benefits and perks are a major benefit when considering a job offer. So, if you want the best employees, then you will have to offer great benefits.
Minimize Employee Turnover
Employees are less likely to leave their company if they feel like their financial and psychological needs are met. Retirement plans are a great way to show your employees you want them for the long run. Mental health assistance is another great way to help your employees feel happy and healthy.
Healthy Employees
Having healthy employees is extremely important. Health insurance and wellness programs are two employee benefits you can offer to show you care about your employee’s health and wellbeing. They both ensure that your employees get the care they need when they need it and that you want to invest in their long-term health. Healthy employees are less susceptible to burnout and absenteeism.
Boost Employee Productivity
Employee benefits can help take away stress from your employees. This allows them to focus more time on what they do best. When employees are not worried about affording medical care, retirement or taking care of their children, they can focus more on doing their job the best they can.
Employee Benefits Are Cost Effective
Offering employee benefits can be a cost-effective choice for both the employee and the employer. Employees often pay less for their premiums than if they were to have an individual plan. This is because the risk is spread across multiple employees making it more affordable/.
It’s also cost effective for the employer. The employer’s contribution to the employee benefits is tax deductible. Most importantly, employers save money when their employees are more productive, engaged, and healthy. When employees stay longer at the company, employers save costs on having to hire and train new employees. When employees are more productive, they spend more time developing new products or providing better service, therefore generating more revenue for your business.
Let’s Talk
Employees are your competitive advantage so make sure you invest in them. Contact one of our Avery Hall agents today in Salisbury at 410-742-5111, in Selbyville at 302-316-6565 or in Easton at 410-822-7300 for a free quote.