The Benefit of Group Benefits
Offering comprehensive health and dental coverage—along with additional voluntary benefits—is a great incentive for employees. However, your workers aren’t the only ones with something to gain from an attractive employee benefits package. It also works to the advantage of you, the employer. By offering a comprehensive and competitive group benefits plan, you can achieve the following benefits:
- Attract top talent in a competitive job market.
- Improve employee retention rates.
- Increase productivity.
- Reduce absenteeism.
- Increase morale.
- Solidify your position as an employer of choice.
An impressive salary is no longer enough to attract top talent. In fact, many applicants are willing to forgo a higher salary in lieu of much needed benefits for themselves and their families. What types of benefits are employers of choice offering? Consider the following types of insurance as part of the group benefits plan you offer employees:
- Medical—Most employers offer their employees some type of health insurance coverage. Not only can health insurance help reduce costs for employees, it can also to lead to better preventive care and reduce employee absenteeism
- Dental—Dental insurance comes at a nominal fee, compared to health insurance. Yet, for many applicants, dental coverage is a prerequisite to accepting a position with a new company.
- Vision—Optical care is expensive; just ask anyone who has recently purchased a pair of prescription glasses! Vision insurance may not be a benefit that all employees take advantage of, but the ones who do find it quite useful.
- Life—Morbid as it may be to consider, life is uncertain. Employees can take comfort knowing that in the event of their death, their families will be financially secure. Life insurance is an attractive benefit to employees who serve as the breadwinner at home.
- Disability—Long-term and short-term disability offer compensation to employees who are unable to work due to off-the-job accidents or illnesses.
In addition to the benefits outlined above, many employers of choice also offer nontraditional benefits that generally come at little cost to the employer, such as the following:
- Pet insurance
- Employee discount programs
- Tuition reimbursement
- Financial planning assistance
Of course, creating the optimal group benefits plan for your employees must also come at a reasonable cost. Contact Beaty Insurance at 409-886-1351; we can help create a group benefits plan that’s right for both you and your employees.