5 Reasons to Offer Employee Benefits
Have you been thinking about purchasing group benefits for your business but struggle with justifying the budget spend? Let me share with you a few things that a competitive group benefits plan can do for you!
1.Attract & Retain Valuable Staff
You’ve probably experienced the frustration of losing talented staff to companies that offer better employee benefits. Employee benefits programs have proven to be a cost-effective means of attracting and keeping good employees.
2. Reduce Financial Stress For Employees
Productive, engaged employees make an important contribution to the bottom line of a company. But even the most promising employees can’t do their best if they’re worried about family finances. Having group benefits eliminates the stress of out of pocket medical and dental expenses.
3. Reduce Stress, Improve Productivity
A workplace benefits and retirement savings plan is one way you can help your employees become financially prepared. In fact, the 2014 Health & Wellness study from Manulife found that individuals with both workplace benefits and retirement savings plan are over 50% more likely to be financially prepared than those without plan.
4. Keeping Valuable Staff At Work
During the nasty cold and flu season, group benefits provide resources for staff to get things like prescription medications to kick any nasty bugs they may catch. Similarly, benefits such as massage, physiotherapy and other important practitioners help employees heal from injuries and accidents to help get them back to work faster.
5. Total Rewards = Pay + Benefits + Other Perks
The total rewards perspective is a holistic approach to employee compensation. Total rewards looks at all the reasons why people work where they work, including bonuses and profit-sharing incentives, health and wellness benefits, retirement savings plans, work-life effectiveness, recognition, and opportunities to advance skills and competencies. Group Benefits can significantly increase your overall compensation offering.
Bensol Consulting has been helping small to mid-sized companies tailor group benefit solutions for more than 12 years. If you’re looking at options for the first time or would like to review your current plan, we have the expertise and knowledge to find the right fit for your business! There is no fee for us to quote or review your plan. Contact me directly at email@example.com for more information.
Group Insurance Advisor