Employee Benefits – Gaining A Competitive Edge For Potential Employees
Employee benefits are important to job seekers and things are looking better in the job market as we see improvements in the country’s economic growth. But as an employer, are you ready for this? Do you have what a potential employee is looking for in an employer?
There’s a lot of new talent out there looking for employment and many businesses are improving their benefits package to remain competitive. It’s important that employers make it more desirable for potential hires to choose them instead of their competition.
According to a survey by the Society for Human Resource Management (SHRM)’s annual Employee Benefits survey, approximately “one-third of businesses increased their overall benefits in the last year and they were most likely to increase health (22%) and wellness (24%) benefits.”
Twenty-two percent of the businesses that SHRM surveyed reported that they chose to improve the health benefit to their employees and twenty-four percent reported that they chose to up the wellness aspect of their benefit.
In a world where benefits rank second to income when it comes to a job seeker choosing an employer, it makes sense for employers to gain a competitive edge over other businesses.
Health and Wellness Programs – An Increase To Consider
Wellness programs are definitely on the rise. Incentivizing employees to take control of their wellness is a smart move that promotes healthy behavior.
Here’s a sampling of ways an employee can be incentivized for participating in a wellness program:
Earn Wellness Points For Deductible Credits
Cash Incentives for Participating in a Wellness Program
Gym Membership Attendance
Tobacco Cessation
Wellness Exams – Physical, Dental and Vision Exams
Weight Loss
An individual’s health status can be affected by their health and lifestyle choices and behaviors. Higher health costs can result from chronic health conditions related to these unhealthy behaviors and choices. Why not give employees the incentive to sustain a healthier lifestyle. Healthier employees are much happier not only in their personal relationships, but they are absent less at work and tend to be more productive while at work.
This increase in health and wellness doesn’t have to cost more than traditional plans. There are plans that offer a better way to control group health insurance costs. If you would like to learn more about a health and wellness program that is saving employers not only on the cost of their yearly premiums but also improving the overall health of their employees, contact me to learn more. It's time to gain that competitive edge.
