Insurance is often misunderstood. When you have a business and offer insurance to your employees, being able to show them why insurance matters and what benefits they are really getting when they sign up is important.
Transferring Risk Away from the Employee
The biggest benefit to your employees when they have insurance is that risk is transferred away from them. They no longer have to pay for huge medical bills if something happens to them, or a loved one. If they have an accident or an illness, the insurance company will be sharing cost and facilitate the best care possible when needed most.
You’ve got a top-level workforce and hiring practices. Your employees have helped you reach new levels of productivity and profitability. This is the moment you’ve been building for since you launched your business – a happy, healthy, productive work environment. But now the bigger question sets in. Is this sustainable? Perhaps not as much as you might think.
50% of adults say they would leave their current job for one that offered better benefits. Benefits that meet their needs, with insurance costs they can afford. Benefits they can rely on. They want peace of mind from knowing that if they get sick or hurt, they have the reliable insurance they need to avoid crippling debt caused by expensive medical bills and treatment. The key to maintaining a loyal, productive team is to make them feel appreciated and developing benefit packages that show them you mean it. This is where Benefitsology can help – by analyzing your existing benefits and providing valuable advice and solutions designed to help you retain your employees and reward them for their loyalty and hard work.
Everyone wants to feel appreciated. Providing reliable insurance to your employees is one the biggest ways to show them that they are valued. It shows your employees that you are invested in them and their wellbeing. It tells them that they matter to you. And they should! These are the people who make your business work. Offering them affordable insurance plans is a valuable way to remind them of how important they are. Happy workers are like happy spouses; they’re committed, loyal, and hardworking.
Better Hiring Candidates
Word travels fast when it comes to job-seeking. Candidates often know which companies offer good benefits, and they’re more likely to go work for those companies. Providing a good package is essential to finding the best employees. In short, providing better benefits is an investment in your employees and also an investment into your business that will payoff in the long run.
Valued Employees are Hard-Working, Longer-Lasting Employees
Bonuses, incentives, insurance plans, and retirement options are all extremely important ways to motivate your employees. It’s proven that when your employees feel valued, they feel like they are a part of your business success. They want to work harder. They want to reach new goals with you. And they want to stay with you. Why jump ship when they’ve found a company that values, appreciates, supports, and provides for them?
Potential Isn’t a Promise
6 years ago the Los Angeles Lakers looked like they could win a championship. They were bringing back one of the best players in the league and in the offseason had acquired two more future Hall of Fame players. (Kobe, Dwight Howard, Steve Nash) Many around the NBA thought they’d win it all. But they didn’t. They never came close. Instead, injuries left their team ravaged, and without a backup plan. For all the work the front office had put into providing top-level talent, they never brought in insurance for the what-ifs. They were swept in the first round of the playoffs and the team was broken up the following year.
A lot of businesses operate like this. They have a ton of potential – good team of employees, positive trending, hype. But all it takes is a valuable employee to leave, and all of that momentum is gone. Potential doesn’t mean anything if you aren’t taking the measures to turn that potential into a lasting promise.
Providing adequate benefits and insurance to your employees is one of the easiest ways to ensure your employees are happy, healthy, and most importantly – in it for the long haul. Benefitsology is a tool that can help you make sure that you are providing the benefits you need to make a difference.