Wednesday, May 17, 2017

What Kind of Benefits Are You Providing to Your Employees?

Let's face it, the demand for extraordinary compensation packages is a driving factor for drawing employee interest when it comes to expanding business. The compensation packages a business offers to employees affects the company’s recruitment rate, retention rate and employee satisfaction. Retaining productive employees is critical to running a successful business. To do so, you've got to be able to to provide them with the compensation they need to keep working for you. What's one form of compensation most employees desire? Health benefits. Insure the Lake takes a deeper look into what you should be doing to enhance your business's employee benefits at the Lake of the Ozarks:

How Important is Offering Employee Benefits?

In recent studies, 69% of employees reported that they might choose one job over another if it offered better benefits. 60% of employees are likely to take a job with lower pay but better benefits. 42% of employees say improving their benefits package is one thing their employers could do to keep them in their jobs; the second most mentioned after increasing salary. 59% of employees say that health and wellness benefits are important for increasing loyalty to their employer. When choosing between a job that offers higher pay or a job that offers lower pay but better benefits, most respondents stated that better benefits and flexible hours would likely lead them to accepting the lower paying offer. 

Most Desirable Employee Benefits

Offering employee benefits is a key factor in retaining happy and productive employees. However, knowing what benefits they most desire is as equally important. Recent studies have shown that the most desired employee benefits are ones that offer better health, dental and vision insurance. These benefit considerations even surpass the desire for higher pay, flexible work scheduling, vacation time, and the option to work from home. So even though it may not seem that important compared to other aspects of the business, business owners really need to take a look at what they have to offer in terms of employee benefits at the Lake of the Ozarks

Employee Benefits Insure The Lake Can Help With

  • Dental Coverage: Insure the Lake can help you offer dental insurance coverage that is both affordable and desirable for you and your employees. We’ll even work with you to establish a payroll deduction option to make coverage even more convenient. 
  • Health Insurance: Naught-Naught Agency can help you manage and analyze your existing medical benefits and future needs. Our experienced and trained agents will perform a comparative analysis of your existing coverage to see if any adjustments can be made to better fit your company’s needs. We provide personal service and a variety of benefit packages to help you make choices for employee coverage that are both effective and cost-effective.
  • Life Insurance: We can help you with life insurance options that will expand your fringe benefit insurance program, while providing employees the opportunity to purchase life insurance at a group rate.
  • Long-term Care Coverage: In today’s world the ability to work and earn an income may be the most valuable economic asset an individual possesses. A total disability due to illness or injury could deplete – if not devastate – your employees’ personal assets. Disability can further impact health costs if there is a need for physical therapy or special equipment. A disability income insurance policy can help minimize the impact of such a devastating occurrence. We offer two types of disability insurance: Long term care insurance and short term care insurance.

If you own a business and want to improve your employee satisfaction and retention rate, it's time to start considering the compensation package you're offering to your employees. For help in building a great employee benefit package that will keep your employees happy, contact the best insurance agency at the Lake of the Ozarks. Insure the Lake can help you come up with an employee benefits package to suit your business and your employee's needs. Call us TODAY! 

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About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral