Which Group Benefits are Today’s Employees Looking For?

Which Group Benefits are Today’s Employees Looking For?One of the greatest challenges a business owner faces is creating a work environment that promotes employee loyalty to the organization. When workers are happy in their place of employment, the business enjoys a lower staff turnover rate, which saves money in training expenses and ultimately facilitates greater team morale and productivity. It is true that compensation plays a big role in helping a worker feel appreciated, but it is only a small part of what today’s workers are looking for. To attract and maintain the workers you want, consider offering a well-rounded benefits package that covers a range of alternate compensation options, from gym memberships and paid time off to health and disability employee benefits.

Health Benefits

Healthy workers take fewer sick days, which translates to better profit margins for your business. Start by setting up a group fringe benefit, such as a discounted or free membership at a local gym. More importantly, be sure to establish one or more group health insurance plans that employees can opt into for themselves and their immediate family members. Often, the cost of purchasing health insurance as a part of a group organization is much more affordable for the worker than purchasing coverage on the private market instead. These savings may also persuade the employee to stick with the same job instead of applying or accepting a position elsewhere.

Life and Disability Insurance

A life-altering illness or accident can have significant financial consequences for a worker or his family. A physical disability not only affects the ability to earn income, but it can also require expensive ongoing care. In the event of a loved one’s loss, surviving family members may be burdened with funeral costs, lost wages, debts, and other financial challenges.

Paid Time Off and Leave

A week or two of paid vacation and a couple of sick days are a start, but modern employer benefit packages are going much further with their paid time off opportunities.  Many are providing personal time allotments, as well as compensation for family leave. This can include maternity leave for new mothers, as well as paternity benefits for new fathers.

Special Recognition Programs

Some employees are driven by money, and others are driven by recognition. Showing value for an employee’s ideas or offering special recognition for a job well done can go a long way in boosting morale. The key is to make the employee feel valuable to your business organization and as if his or her contributions are appreciated. You could implement a rewards system, throw staff parties for team accomplishments, and single out hard workers with public praise or an employee-of-the-month program.

About Barnes Insurance Agency

At Barnes Insurance Agency, we specialize in vacation home rental insurance to ensure the protection of your property and assets. We strive to offer customizable solutions to meet your specific needs. For more information, contact us today at (877) 279-2500.

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