When you run a business in a competitive industry, it can be difficult to find and retain employees. The Society for Human Resource Management conducted a survey and found that “95 percent of HR professionals rated health care as one of the three most important benefits to employees.” In short, benefits are big.
Of course, every prospective and current employee may have different health needs. While a group health insurance plan provides employees with medical coverage, there may be some additional health needs that don’t fall under your base plan. This is where a supplemental insurance plan can give your business an edge in attracting new talent and retaining quality employees.
Summer days make for more than just fun in the sun. Summer weather leads to a spike in outdoor jobs, hotter conditions, and workplace injuries. While these issues are a year-long concern, the Bureau of Labor Statistics reports that the rate of workplace injuries increases during the summer season.
More injuries mean more workers’ compensation claims, and more claims mean that your company will have to pay a higher workers’ compensation rate. However, business owners can take steps to help lower workers’ compensation rates by employing loss prevention strategies that can help reduce the risk of accidents in the workplace.
A little extra protection can go a long way toward making your employees happy. Traditional group health plans are a great start for many of your employees, but some members of your team or potential recruits may need additional coverage.
Supplemental insurance plans allow business owners to attract and retain talented employees through additional coverage. A Professional Employer Organization can provide you with extra insurance options to benefit both you and your employees.