A hefty salary isn’t the only way to entice and retain employees. Most people know that a catastrophic medical issue can result in financial ruin. It might surprise you that some job applicants are willing to accept a lower salary when a company offers exceptional group benefits.
Employee turnover is never a good thing. It is costly and disruptive to be training new hires continually. It can be far more cost-effective to provide quality group benefits that your team would be reluctant to lose by going to a competitor. Basically, if you offer better group benefits than they do, you are more likely to keep your key personnel.
It can also be a shot in the arm to morale to improve the group benefits you are offering. You can do that by offering more options, covering more of the premium, or making other concessions to show your employees that you care about their health and financial wellbeing. Another thing to consider when choosing group benefits is the boost to productivity that could result. If your employees struggle financially due to medical bills, it can affect their work quality.
If you would like to learn about group benefits for your company in the Apex, North Carolina area, reach out to us at Independent Benefit Advisors. We have options for small groups 15-10, medium groups 50-249, and large groups 250+. We can match you with the right benefits for your situation so you can get the best outcome possible—healthy, happy, and productive employees!