Most employers, by law, have to provide a degree of benefits for their workers. However, statistics show that job-searchers often look for strong benefits packages when selecting an employer.
A strong benefits package can help employers improve their turnover rate and even increase their profitability. Benefits packages sometimes lead to workers performing their jobs better. They may also offer a degree of quality assurance for the business.
There are variety of different benefits packages that businesses can offer their employees. Indeed, certain benefits may even attract more talent because of their unique nature.
The Harvard Business Review published a list of the most important benefits prospective employees seek. Consider adding benefits that may serve as perks for employment to your budget.
Routinely, the most important benefit that employees seek is health insurance, according to the Harvard Business Review. A strong health policy helps individuals better see to their own medical needs. Indeed, it may even improve productivity when an employee can remain healthy by receiving regular care.
The law stipulates that many employers have to provide health insurance coverage. However, employers often can offer expanded benefits than just required minimums. For example, employers might offer dental and vision coverage as well.
Employees might have to take time off work for personal needs. Paid time off can help the employee see to their own business without endangering their pay. Many employers allow a certain number of paid leave days per year, in addition to vacation time.
Furthermore, many employers use paid time off to cover medical leave as well. A growing number of employers have expanded paid leave to the cases of new parents, many of whom need leave following the birth of a child.
The law requires most employers to offer workers’ compensation to their employees. Workers’ compensation is a type of insurance that covers work-related accident that employees may experience.
Should a work-related accident harm an employee, they may require time off to recover. Workers’ compensation can help employees afford extended medical care and maintain lost wages while they cannot work. Workers’ compensation might improve an employee’s ability to return to work fully recovered.
Many employers offer extended benefits that can improve workplace environments and employee well-being. Some might offer gym membership, daycare services, tuition and student loan assistance, and more.
With the right benefits, an employer can greatly improve their operating environment and employee wellness.
We’ve got you covered. Call Mitchell & Mitchell Insurance, Inc. at (888) 512-8878 for a fast, free quote on California group benefits insurance.