If you are looking for a job, currently have a job, or have ever had a job, chances are you are familiar with the term “employee benefits.” They are those added perks that can make or break a job offer.
What exactly are employee benefits?
Employee benefits are any perks offered to employees. These benefits come as an addition to the employee’s regular salary or wages.
Offering employee benefits helps to give employers a competitive edge in the job market. While salaries are a big factor when job hunting, benefits are a close second. Some people may even argue that benefits come first! You may be surprised, but some individuals may accept a job offer based on a more robust suite of benefits over a higher salary. The stats back it up…
80%
of workers would keep a job with benefits rather than take one that offered
more pay and no benefits. – American Institute of Certified Public
Accountants
Why offer benefits to employees?
Offering a robust suite of benefits shows employees that the business owner is invested in their health, their wellbeing, and their future. A strong benefit offering can help an employer stand out among competition in the job market and attract valuable employees.
Benefits help keep employees healthy and engaged on the job. Healthier employees may experience fewer sick days which could lead to fewer doctor visits. Employees who feel they are valued at work are more likely to stay with the company longer and tend to be more engaged and productive while they are at work.
The benefit is mutual to the employer and the employee.
- Reduce Turnover. It is difficult for a business to really succeed if there is high turnover involved. New employees need time to learn the ropes, and without the help of skilled veteran employees, this process may take more time – time that could be spent growing the business. Offering valuable benefits to employees shows them that you have their best interest at heart. This mutual respect helps foster a positive culture of professionals who are more likely to stay with the company for years to come.
- Healthier Employees. If you are offering a quality health insurance plan to your employees, chances are, they are participating in it. Those individuals who are covered under a health insurance plan are more likely to receive regular check ups and take preventative medical measures. These practices help keep individuals and their families healthy and in turn, can reduce the number of sick days and absenteeism among employees.
- Increased Appeal. Hiring skilled workers is a shared goal among business owners. Employers are always on the hunt for skilled workers to fill the needs of their growing businesses. So think about how you can stand out among the masses. Putting together a package of valuable benefits will put you one step ahead of those businesses offering the bare minimum and bring skilled workers in your door.
If it’s that easy, why isn’t everyone doing it?
Between lower turnover, healthier employees and increased appeal in the job market, you would think that every business would be offering top of line benefits to their employees. So why is that not the case? Just like everything else, added benefits means added costs to the employer.
Often, it is bigger companies that offer the best suite of employee benefits. Why? They have the budget to do so. Finding the resources to support added employee benefits takes time and money, which can place the added perks out of reach for some small business owners.
At Focus OneSource, we do not believe in settling.
We think that all employers deserve the chance to offer their employees “big company” benefits on a small business budget. As a Professional Employer Organization (PEO), we can aggregate the buying power of hundreds of worksite employees to provide premium benefits to small business owners at a fraction of the price. This takes the administrative stress off the business owners’ plates, so they can focus on growing their core business. A relationship with Focus OneSource means access to our rich suite of benefits.
- Paid Time Off (PTO), Sick Days, Vacation
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Long-Term Disability Insurance
- Short-Term Disability Insurance
- Wellness Programs
- Employee Assistance Programs
- 401(k) Retirement Plans
- Flexible Spending Accounts
- Health Savings Accounts
Focus OneSource makes the most of your dollar.
We offer managed services uniquely designed to offer business owners the information and strategic tools needed to create a distinct competitive advantage and build a more efficient business. Unlike traditional insurance agents, we provide our clients with tailored solutions to meet their evolving business needs without the hassle of having to partner with multiple providers for core employee services.
Our experience and expertise in the field allows us to provide these services within a “bundled” approach or on a per “choice” option. No matter what your small business needs are, we’ve got you covered!
Contact Focus OneSource today to learn about how our rich suite of benefits can help you attract and retain more employees.
Alaina Riley
Marketing & Wellness Coordinator