Despite high unemployment due to the pandemic, the labor market continues to be extremely competitive. As an employer trying to attract and retain employees, the benefits you offer can be a key differentiator. Employee benefits may include a wide variety of items, but group insurance for health, dental, life and disability coverage are some of the most important a company can offer.
Health and Dental Insurance
Group health and dental insurance offset costly medical expenses and are arguably one of the most important benefits an employer can provide. Healthy employees are happy employees. Comprehensive health insurance enables employees to seek preventative care and ultimately results in fewer absences and increases employee productivity.
Group Life and Disability Insurance
The ability to earn an income is an employee’s most valuable asset. Income protection benefits like disability insurance help an employer offer a comprehensive benefits package. Under short or long-term disability coverage, if an employee is sick or injured and unable to work for an extended time, the employee receives a percentage of their salary while they are recuperating. Group life insurance plans provide employees with an affordable way to purchase life insurance that can help provide for their families upon their death.
To stay competitive in recruiting and retaining top talent, a company needs to offer a comprehensive employee benefits program that meets both strategic and financial objectives.