Why Should Small Businesses Offer Employee Benefits?

As an employer, your staff is inherently one of your most valuable and essential resources. Knowledgeable, capable and productive workers are integral in maintaining daily operations and pursuing future aspirations. However, maintaining a healthy, satisfied and consistent workforce can be challenging. Your small business should ensure its leaders have a comprehensive understanding of employee benefits, as such aspects of the workplace may be critical.

What Benefits Should My Company Offer?

Small businesses may have many employee benefits options from which to choose. These programs, incentives and opportunities may come in many forms, and constructing and cultivating an ideal set of offerings can be critical. In many cases, a successful employee benefits package may include the following:

• Health insurance 
• Life insurance 
• Vision insurance
• Dental insurance 
• Disability insurance
• Retirement assistance programs (e.g., 401k plans)
• Training and education opportunities
• Paid time off
• Flexible schedules
• Pet insurance
• Wellness incentives (e.g., reimbursement for fitness classes and gym memberships)
• Mental health and counseling services

When considering your various options, it’s typically advisable to survey your employees directly, as this can give you an accurate picture of the benefits they may value.

Why Are Benefits Important?

Your business can garner many direct and indirect advantages by offering the proper set of employee benefits. Specifically, consider the following possible effects:

• Improved health and wellness—Many employee benefits, such as health, vision and dental insurance, can help workers maintain their well-being.
• Increased productivity—Employees who are happy and healthy may perform better at work. Additionally, general wellness can decrease sporadic absences or the need for extended medical leave.
• Better morale—The right benefits portfolio can communicate to your employees that you care about them. This can help cultivate a healthy workplace culture and sense of camaraderie.
• Greater attraction and retention—Benefits are a valuable part of overall compensation packages, and specific offerings may influence both prospective and current employees regarding where they want to work.

We’re Here to Help

At True Grown Insurance Services , LLC, we have a deep understanding of employee benefits and will help your business assemble an ideal package. Contact us today to learn more.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.