Every business owner or manager knows that they cannot achieve their goals without their team, but how are you treating your team? Do they have everything they need to feel comfortable at work? Is your employee benefits plan top notch?
These are very important questions that you must answer for yourself, and when you look at employee benefits, you must realize that a lack of benefits (or weak benefits programs) will make it difficult for your business to reach its goals. Put those goals in the front of your mind as you learn about the impact of benefits programs on your team.
Benefits Demonstrate Care for Employees
More than anything, a benefits plan makes it obvious to your team that you care. If you care, you’re putting your money where you mouth is and contributing to their benefits plans. Yes, these benefits must be valuable and useful, but just offering them is a big step.
Remember, around 23% of the private sector doesn’t even have employer-provided benefits. Many businesses can do better.
Robust Employee Benefits Attract Top Talent
When you attract top talent, they want to know if your benefits plan is good or not. That’s one of the first things they will ask you. They want to know if you have a benefits plan and what it includes. If you don’t many people will walk away.
You have three options when you answer that question:
“We don’t offer benefits”—an answer that will usually end with the candidate going elsewhere.
“We offer some benefits, yes”—an answer that will leave the candidate wondering what benefits you actually provide.
“Yes, we offer medical, dental, vision. AD&D, short and long-term disability, etc etc”—an answer that signals to the candidate that you’re serious about taking care of employees—not simply productivity.
Businesses Can Take Common Sense Action in the Office
The best thing you can do as an employer is take common sense action in the office. When employees are sick, tell them to go to the doctor. Tell them to take the day off.
The COVID-19 pandemic exposed many businesses that offered no benefits or weak programs because these directives meant one thing—employees aren’t getting paid AND they’re paying out of their own pockets. An appropriate benefits plan allows employees to take paid time off, seek medical care, and not worry about financial ruin.
Without a benefits package, your employees are in a very bad position when they’re ill, dealing with family emergencies, etc.
Your Company Can Establish Itself as a Leadership Expert
When you deploy an employee benefits plan properly, you can inspire companies in your industry. Let’s say you’re the first small printing house in the area to offer benefits to every employee—even part-timers. You will set a precedent that your competitors must match. If they don’t, you’ll end up with all the best talent because you offer the best benefits.
Contact the Martinelli Benefits Experts for More Information on Employee Benefits and Corporate Performance
Reach out to our benefits experts today to learn more about a new benefits package or to adjust your current plan. When you put your employees first, they do better work, feel more content on the job, and can go further in life with your backing. Plus, happy employees make it much easier for you to reach your goals.