A decent salary and job security is no longer enough to attract top talent to businesses. In today’s competitive job market, job seekers are searching for an attractive benefits package in addition to good pay and career stability. While comprehensive group benefits meet the needs of employees, business owners also enjoy the advantages that employee benefits yield. Offering group benefits helps business owners achieve the following benefits:
- Improve staff retention rates.
Employee turnover is costly! Between job postings, onboarding and training, it costs much more to find and hire new employees than it does to keep current ones.
- Increase productivity.
Happy workers are more productive workers. Ensuring your employees are content with the benefits they receive makes their commitment to their jobs that much stronger.
- Attract top talent.
An ideal candidate is much more likely to accept a position at a company that offers health, dental and voluntary benefits than one that does not.
- Reduce absenteeism.
Proper medical and dental care means your employees will be healthier and less likely to take sick days.
- Improve morale.
A generous benefits package shows employees that you care about their well-being. Appreciation is one of the key components of high worker morale.
So, what types of benefits should you offer? In addition to medical insurance, there are many other offerings to consider—many of which come at an affordable cost to employers:
- Dental insurance
- 401(k) plans and annuities
- Vision coverage
- Life insurance
- Disability insurance
- Pre-tax saving accounts
- Long term care insurance
For employers, crafting an employee benefits package that is both comprehensive and affordable can be tricky. At the Insurance Center of Winchester, we will help you create a benefits plan that fits your budget and still provides workers the incentives they deserve. Contact our office at 540-667-0700 for more information.