In today’s world, ask any business owner or high level leader and they’ll tell you that the hardest part about their job is finding and retaining talent. And the truth is, it rarely has to do with pay. Ask anyone who has tried to keep an employee who gave notice by offering them more money. Either they still quit, or they stay for a few months, and end up quitting anyway.
To be an Employer of Choice means that not only do people searching for employment seek you out, but also that if one of your employees test out the open market, they will quickly realize the grass is not greener.
You accomplish this in many ways, but as found in this study by Fractl, the NUMBER 1 job perk employees care about is…. Health insurance!!!
In today’s market individual, and even standard group health insurance rates are climbing higher and higher. And let’s face it, budgets are a real thing. This means most small and medium size companies put the “best” benefit package together they can afford, but it usually leaves the employees either paying too much or stuck with high deductibles and co-pays that render the insurance basically worthless. So, what do you do? How do you possibly compete with the benefit programs large companies are able to offer, and still stay within your budget?
Work closely with your benefits provider to develop a custom benefits package around your most important assets-your employees. Ask to see a variety of insurance programs, especially those that balance premiums with deductibles. Not only does this save you and potentially your employees money, but more importantly it protects your staff and their families. Happy employees are more productive employees!
Applied Business Solutions has a Master Health Plan from Florida Blue that allows us to offer health insurance rates to small and medium sized businesses that are normally reserved for only very large companies (5000 employees or more). With favorable underwriting, we have been able to save our clients anywhere from 10-28% on their monthly premiums. This enables them to put more money back in their business, their own pocket, or work with us to add other benefits and stay within their current budget! (other benefits being 401k, accident plans, critical illness, life, disability, etc..)