Being an employer means jumping through a lot of hoops. Keeping valuable employees on the team is becoming an even more difficult balancing act. While money plays an important role in employee retention, it is hardly the only issue that matters anymore.
Health insurance is a big sticking point. But through voluntary benefits or an employee assistance program, the landscape is changing a bit. With rising healthcare costs becoming a challenge for everyone, there are solutions to be had.
One of those solutions is voluntary benefits. This is assistance provided to the employee in which the employer pays little or none of the costs involved for health care. Not only does it mean giving employees extensive coverage with no additional costs, but it can mean saving on taxes for employers.
That is a double whammy that can be truly beneficial to both sides. The most important thing is that it gives the employee the health care that they need, which also means the better the odds of retention are for the employer.
Types of Benefits
Even better, this type of benefit is available not just for general insurance, but a slew of others. Whether it be dental, vision, life insurance, or disability insurance, there is the potential for both employer and employee to save on medical costs.
In a world where it is rapidly becoming unaffordable to get the health care that we need, that can be a huge benefit to employees.