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The Three R’s of Employee Benefits

Employee happiness. While a seemingly simple theory, employee happiness is one of the primary components of running a successful business. Employees work for incentives, both monetary and those that come in your annual benefits package.

 

Offering added benefits for employees, outside of the basic benefits, shows renewed investment in employees, value in their productivity, and a desire to ensure their happiness and morale is high.

 

We developed this list to help employers understand why employee benefits are so important.

 

Recruiting
Your recruiting team will probably receive multiple questions from candidates regarding benefits. Try creating a snapshot of the benefits package for a mid-level employee. This will provide the best view of the company’s offerings and is a great way to highlight the company’s continuous investment in their employees. Added benefits that have a lesser impact to the company’s bottom line include scheduling a food truck or coffee cart to visit regularly, adding a foosball or pool table in the break room, on-site haircuts, or dry cleaning services.

 

Reduce Turnover
If your organization’s employees see your business as a revolving door rather than a place to plant roots and grow, the talent pool will reflect this, also. Investing in your employees shows that management values their interests and performance. Keeping employees for a long period can help build a strong team, which will eventually cause a ripple effect across the organization.

 

Restore Loyalty
Employees who are satisfied with their company’s benefits package are 71%[1] more loyal to their employers vs. employees who are not satisfied with the benefits package.  Basic benefits (e.g. medical, dental, vision) are expected these days. Organizations that go above and beyond may offer unlimited PTO, flexible workdays, pet insurance, or tuition reimbursement.

 

Contact Vensure Employer Services to start offering your employees added benefits.

 

 

[1] https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/benefits_loyalty.aspx