Benefits are no longer considered a perk in today’s business world… it’s an expected part of compensation. Employees and their leaders provide essential services to sustain the business’ long-term success. Once you put a good team in place that is performing well, it can cost the business to lose an indispensable employee.
Why is offering benefits important?
1. If you have 50 or more full time employees, you must offer an affordable health plan or be penaltized.
2. Attract and retain your essential employees. In the tight labor market these employees have choices.
3. Can help boost morale. Not having benefits will really have employees griping when medical attention is needed, but not affordable.
4. Beat out the competition in the race for the best talent.By offering a health plan plus voluntary benefits, you can beat out 43% of your competitors that do not offer benefits.
At WBS we know that offering employee benefits is a real cost to the company, but we also believe the value to the employee will even out over time. At WBS we work hard to curb the costs of coverage with many unique strategies that increase the value of the benefits to the employee and employers.
If you would like to discuss them please contact me.