Importance of Providing Benefits to Employees Article shared by: Importance of Providing Benefits to Employees! This is called by various names such as fringe benefits, wage supplements, supplementary compensation, non- wage benefits, indirect benefits, hidden payment, etc.
Top Benefit Your Employees Want Indeed, 87 percent of employees surveyed in a study by the Employee Benefits Research Institute say employment-based health insurance is either very or extremely important when they are debating whether to take a new job or stay in their current position.
Offering employee benefits is critical to job satisfaction and worker morale. According to the study, almost six in 10 workers 59 percent who are extremely satisfied with their benefits are also extremely satisfied with their jobs.
And if your small business hopes to compete with bigger companies in attracting and retaining workers, benefits are a big part of the package. Not only do employees appreciate the benefits they receive, but they also like not having to do the legwork to find and purchase benefits on their own.
Just 20 percent of employees in the survey would rather get money from their employer to purchase their own benefits. But offering benefits can be expensive. Start by having someone from the benefits provider explain all the options to your staff in person.
Also ask what type of one-on-one or online assistance is available to employees going forward. Nearly six in 10 employees in the survey say they would like to be able to get benefits advice, either online or through a third-party advisor.
More than half of employees in the survey say they would prefer to enroll in benefits online, not by filling out paper forms. Toot your own horn and let your team know what elements of your plan are outstanding.
Here are some things employees care about that you can emphasize: Do you offer your employees a choice of health plans? Do you provide voluntary benefits, such as life insurance or disability insurance? More than 80 percent of employees surveyed consider that a huge plus. Are any of your benefits portable such as retirement plans?
Employees appreciate that, too.
|DENTAL AND VISION: IMPORTANT WORKPLACE BENEFITS||Their size exceeds the The 14th Annual U.|
|The Most Important Benefit for Your Employees | WebPT||Posted October 8, by Justworks in Benefits and Perks Employers who create a great place to work tend to recruit and retain more top talent.|
|CCH® BENEFITS 10/5/07||The study, conducted by the Center for Strategy Research for Prudential in April and May, presents the responses of 1, benefits decision-makers from firms with at least 50 full-time benefits-eligible employees. Most likely to cite shifting to employees cost and financial responsibility as top cost-containment strategies were large private firms with at least 10, employees and midsize public administration and education firms.|
|Already using Zenefits?||Thanks in part to the changing values of the American workplace, and in part to the increased options available to both employers and employees, competition is fierce when it comes to additional perks and benefits.|
Do your benefits save employees time and money? For example, paying healthcare premiums with pretax dollars through payroll deductions is less costly for employees than buying them in the open market. Be Upfront Keeping benefits costs steady without sacrificing coverage is difficult just ask my business partner, who dreads renewing our health insurance every October.
If you have to make changes to keep costs down — or if you have to ask employees to pay a larger share of the premium to maintain the same level of coverage — explain that to your team.Below, we’ll mention 5 important things, which you should definitely include in your benefits package to appeal to job seekers, but before that remember that in order to find jobs with the best employee benefits, upload your short video resume on the Ohire video resume app, one of the best video interview platform in the country.
Orientation is important because it lays a foundation for the new employee’s entire career with the department.
First impressions are important since they establish the basis for everything that follows. For employers, this research bolsters the idea that pay and benefits—while important—are only one factor when it comes to keeping employees engaged over the long term.
As pay rises, compensation and benefits become less important as drivers of employee satisfaction. Do your employees' commutes include public transportation, Lyft, Uber, or paying for parking?
Commuter Benefits can save them money by letting them pay for these expenses using pre-tax dollars, loaded on an easy-to-use debit card. A group health plan is an employee welfare benefit plan established or maintained by an employer or by an employee organization (such as a union), or both, that provides medical care for participants or their dependents directly or through insurance, reimbursement, or otherwise.
This survey shows the most important benefit aspects for U.S. employees. Some 64 percent of respondents stated in that health care or medical benefits are very important.