The current job market makes it difficult to find skilled and highly qualified workers. One way to minimize staff disruptions is to retain key employees you already have. Adjusting your group health & employee benefits insurance may help you in those efforts.
Top Employee Benefits
Not all workers want the same things; however, certain benefits do rank highly for a large percentage of them. These generally include:
- Health insurance: There are several ways to build an effective and affordable health plan for your employees. Look into different options, such as PPO and HMO plans. You might consider covering the entire cost of coverage for employees while offering partner and family coverage at cost.
- Dental Coverage: Routine dental care reduces the need for costly restorative services down the road, making dental insurance an attractive feature for many workers.
- Retirement Plans: While full employer-sponsored pensions may be a thing of the past, you can still provide support as employees save toward retirement. Company-sponsored 401K programs with matching contributions can significantly boost retirement savings.
- Disability Insurance: This coverage proves useful if an employee becomes ill or is injured and unable to work. Both short- and long-term options are available.
Many benefits are more affordable than employers realize. You can further reduce costs by making them voluntary or asking employees to absorb some of the costs. Either way, you will save on HR expenses by attracting and retaining qualified workers.