Five Ways Your Small Business Benefits by Providing Employees With Health Insurance
Are you considering offering your employees health insurance? If your small business employs 50 or more full-time workers, it’s a matter of compliance. Regardless of your headcount, however, your business benefits in addition to your employees. Here are five reasons why small businesses’ health insurance plans provide gains for employers also.
1. Your Business Attracts Better Job Candidates
As your business grows your recruiting needs typically grow with it. You’ll need the best job candidates to cover expansion needs or employee replacements. In either case, your business will be best served by attracting quality job candidates. Because most job seekers look for health insurance benefits, offering a plan will attract better candidates. Surveys show that most employees are willing to take a job that offered less pay if it provided better benefits.
2. You Retain Good Employees and Reduce Turnover Costs
Health insurance benefits make a significant difference in whether employees stay with you or seek employment elsewhere. It’s in your best interests to retain good people; the cost of turnovers, recruiting and new-employee training can take a bite out of your profit margin.
3. Healthier Employees Are More Productive
Employees with health insurance show greater productivity. They’ll see a doctor rather than let minor illnesses develop into issues that can result in time off from work or a slow-down in performance. It’s also easier for employees to remain focused on their work when they’re less stressed and most people connect their peace of mind at work to the benefits provided.
4. A Health Care Plan Fosters a Positive Workplace Culture
When employers demonstrate a concern for and investment in their employees’ health, a more positive workplace culture develops. In addition to centralizing access to plan details, it builds a greater sense of community. This helps foster a workplace environment in which teamwork, dedication and effort are increased.
5. Your Business’s Reputation Improves and Your Customers Take Notice
When the benefits you provide create a positive workplace culture your customers can take notice. Your reputation as a service provider or seller is seen in a more favorable light and customers are enthusiastic about doing business with you. The inverse is true also. Unhappy employees not only lessen the quality of your goods or services, they can also communicate to your customers a lack of appreciation for their employer. This can be particularly significant when unhappy or stressed employees have direct customer contact.
Learn More About Health Insurance
Choosing the health insurance plan that works best for both your business and your employees needn’t be difficult. Helping you determine the right plan at the right cost is what we do. Sackett & Associates Insurance Services provides businesses in Sonoma County with individualized plans that fit their unique and specific needs. Small businesses’ health insurance plans aren’t designed to be a one-size-fits-all solution. We’re here to help you discover the many health insurance options available for building your business’s ideal plan.
Contact us at 707-823-3689 to learn more. You can also receive our informative newsletters and health insurance updates by subscribing to our blog. Get to know us and what we can do for you. You’ll find us on LinkedIn and we hope you’ll like us on Facebook!
