Using Your Healthcare Benefits as a Recruiting Tool
Recruitment can be a challenge at the best of times. As a business owner, it’s important to show that you truly care about your employees. A good way to do this is by providing them with access to affordable medical care and treatments.
If your business has a great healthcare package available to new recruits, it should definitely be advertised in your job postings. If you don’t have a benefits package that’s at least on par with your competitors, there’s no time like the present to start changing things.
Healthcare costs aren’t likely to go down. As such, potential employees have become savvy consumers and are as likely to judge a business based on the benefits plans that are offered as much as they are on the initial salary offering.
Promoting a Culture of Care
Providing better benefits for you team helps your business promote a culture of care. A company that invests in a positive employee experience has been observed to grow more consistently than their counterparts that don’t.
Profitability can massively increase, and employee growth can increase as well. Benefits are a huge investment. In fact, it’s likely that benefits are second only to salary in terms of your business’s expenditures.
It’s important to leverage this investment. To truly make the most of your investment it’s important to have a plan design that can personalize the experience for your employees. Worried you don’t have the budget? Well, make the budget. There are always things you can change.
Making Changes to Benefit Your Business
If you don’t have the budget, there are always things you can do to open up the room.
- Understand your employee’s profiles that can qualify for plans with lower premiums.
- Optimize your employee’s contributions with Health Savings Accounts.
- Make HSA contributions to incentivize low-premium plans.
- Monitor your plan throughout the year so you can optimize during the next open enrollment period.
How the Team at Benely Can Help
When you’re busy running your business, it can be a challenge to keep an eye on your health insurance. It makes sense working with a team of industry experts who can help guide your business’s growth with access to the best healthcare plans and the latest HR tech. At Benely, we offer the absolute best in PEO services that will help your business grow at an unprecedented rate.