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One of the best ways to attract and retain quality employees is to offer a prime benefits package. In fact, nearly 80% of employees are more likely to stay in their current roles if they are satisfied with the benefits being offered. [1]
Continue reading to learn the top three reasons you should be offering employee medical coverage and other incentives.
The quality of your employees can ultimately make or break your business, so it’s important you are doing everything you can to attract trained and qualified employees.
In order to remain competitive among other businesses when looking to hire employees, it’s essential that you are offering some type of benefits package. 80% of job-seekers would take a job that offers benefits with a lower salary rather than a job with a higher salary but no benefits. [2]
Remember: When you’re looking to fill a position at your company, you’re also being interviewed by the candidates who are evaluating whether your offer matches their wants and needs. If you aren’t offering a quality benefits package, you’ll likely lose great candidates to businesses that do offer the benefits that your ideal employees are looking for.
Read more:
How a PEO can help your business with benefits administration
Offering a high-quality benefits package isn’t just a great way to attract talented candidates to your business—it also plays a huge role in keeping your current employees happy.
60% of employees state that their benefits are a very important contributor to their job satisfaction, which means the right benefits will keep your employees on your team and improve their satisfaction with their job and your company. [3]
If an employee does not feel that they are being fairly compensated with their wage or their benefit offerings, they are likely going to begin looking for other positions that will provide them with the benefits and pay they are seeking.
In fact, 49% of employees start looking for a new job within 12 months if they are not satisfied with the benefits their company is offering. [4] Benefits play a huge factor in employee retention, and if you have quality employees, you will want to keep them around.
PER has provided outsourced HR services to small and mid-sized businesses across Central Florida for over 25 years.
Our team of qualified benefits administration specialists can help by handling new hire eligibility and enrollment, qualified employee changes, and processing employee deductions and employer contributions.
As part of our comprehensive services, we also offer payroll management, human resources, workers’ compensation, and more.
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Contact us today to learn more!
Sources:
2: AICPA | Americans Favor Workplace Benefits 4 to 1 over Extra Salary: AICPA Survey
3: SHRM | Better Pay and Benefits Loom Large in Job Satisfaction
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