Top 5 Employee Benefits Your Business Should Look Into

Time and money—two precious resources for every company, big and small. In an effort to conserve and capitalize on these resources, smart businesses invest heavily in technology and talented employees.

Unfortunately, a lot of organizations fail to realize that recruiting top talent isn’t the same as retaining it. As more and more people enter the ring of entrepreneurship—with women from minority communities constituting the fastest-growing group—the idea of employee management has evolved considerably to encompass far more than a fat paycheck.

Let’s take a look at 5 key employee benefits your business should consider as part of its overall retention strategy:

1. Healthcare Benefits

Your first and foremost goal as an organization, be it a fledgling start-up or an established corporation, should be to give your employees no reason to miss work. A healthy employee is a mentally and physically present employee—and it may take more than an apple to keep the doctor away.

This means offering a robust healthcare benefits package that includes dental coverage.

Why dental?

Medical studies confirm that poor dental hygiene is a contributing factor in common viral illnesses. Evaluate employee needs and choose between group health insurance and healthcare reimbursement.

1. Employee Assistance Plan

You may expect your employees to leave their personal problems at home when they come in to work. Unfortunately, some problems are far too serious or concerning to be dismissed and if you refuse to step in and provide assistance, you’ll start to see a dip in employee performance.

EAP is a paid-for short-term counseling service that aims to resolve personal problems afflicting your employees. This may cover mental issues, including anxiety, stress and depression, as well as coaching and dependent care.

1. Workplace Flexibility

There’s only so much you can do to keep your employees from falling sick. Some things are simply beyond your control, and if you’re serious about giving your best employees a nurturing environment that they wouldn’t want to leave, it’s imperative that you offer the support and flexibility they need in trying times.

This means offering flexible pay and schedules that allow them to take time off, as and when needed.

1. Wellness Program

You know employees are happy when they refer to their organization as their "second home".

Wellness programs cover a broad range of health and self-improvement programs to keep employees in excellent shape, mentally and physically. This includes various activities, facilities and seminar, such as gyms, educational seminars, weight-loss challenges, tobacco awareness sessions, sponsored by the company.

1. Non-financial Compensation + Retirement

As much as you’d like to keep your best employees around forever, they will inevitably retire at some point. What you can do to make sure they stick around until then, is offer enticing incentives they simply can’t refuse.

Consider non-financial compensation that takes into account "the little things" that often compel employees to quit on impulse. This means "bending the rules" just a little for the greater good, such as letting employees take a day off on birthdays with pay, counting some sick days as personal days to help them save their paid leaves, offering employee benefits from the date of hire, etc.

This may seem somewhat costly, but their long-term effects are invaluable to the company. Couple with a comprehensive retirement plan that offers tax benefits, smart employees will realize the value of staying at a company that, no matter how small or big, truly values their skills and talent.

To choose the right employee benefit plan for your company, get in touch with JS Benefits Group, a reputable consultancy in Pennsylvania, specializing in traditional and non-traditional benefits in business.

The private exchange quote group health program allows employees to opt for health plans tailored to their needs.