Insurance Benefits Retain Employees
Top benefits you should prioritize to retain employees august 24 2017 in the current work climate we ve seen a shift away from our work lives being separate from personal lives.
Insurance benefits retain employees. Glassdoor found that for every 1 star increase in retirement benefits ratings employees experience a 0 08 star increase in satisfaction with the company. Our work lives blend into our personal lives and vice versa mainly due to technology advancements. Employee benefits and especially in british english benefits in kind also called fringe benefits perquisites or perks include various types of non wage compensation provided to employees in addition to their normal wages or salaries. Voluntary benefits can entice candidates to look further into your organization when you have an open position.
Alltrust insurance can help you create attractive compensation packages to attract and retain employees. They look at the total compensation package. Like health insurance improving retirement benefits has a positive impact on improving employee satisfaction. Employees are not only looking at salaries when choosing a job.
Health insurance is by far the most significant benefit for employees according to the employee benefit research institute and it is the benefit that is most likely to keep employees engaged and motivated. If you want to attract and retain the best it takes a top level employee benefits package. Employee benefits are a big deal. Meanwhile more than 75 percent of employees cited benefits as an important reason for accepting a job.
Attract and retain talent with better employee benefits and insurance plans top benefits you should think about offering to your employees anyone who owns or manages a business big or small knows that finding and hiring new employees is a difficult and expensive task. Employees at most companies expect some form of benefits. Health insurance dental insurance or a retirement plan for example. Instances where an employee exchanges cash wages for some other form of benefit is generally referred to as a salary packaging or salary exchange.
Depending on the company these benefits may include health insurance required to be offered by larger companies dental insurance vision care life insurance legal insurance paid vacation leave personal leave sick leave child care fitness retirement benefits and planning services college debt relief pet insurance and other optional benefits offered to employees and their families. Yet retirement benefits face many of the same problems as health benefits. Employee benefits play an important role in the total compensation that your company offers and are a major consideration for both recruiting and employee retention.
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