However, sometimes it isn’t the money that keeps employees coming to work week after week. In fact, according to a recent employee survey conducted by The Society for Human Resources Management (SHRM), job security and health benefits were ranked as key contributors to job satisfaction.
So, you ask, what does this mean for employers? Well, for starters, statistics don’t lie. If employees believe health benefits are an important part of their compensation package, then you should too. In fact, the Human Performance Institute reports "People with high job satisfaction also report an extraordinarily high sense of mission, vision and passion for their work.” If your employees feel taken care of, they will in return have a higher level of job satisfaction, thus being more productive and competent employees, lending to the bottom line of the organization and its longevity.
With that said, I’m not undermining the state of the economy and the strain it has caused to business all across our country. Comprehensive benefit packages can get expensive, but don’t let that discourage you. You have options.
You just have to get a little creative. Just because it’s not in the budget this year to offer a full fledged major medical benefits package to your employees, doesn’t mean you can’t start somewhere. Ancillary benefits, including life, vision and dental products, have become increasingly important to employees over the past few years and enrollments have shot through the roof (warranting their popularity).
Just remember, offering something is better than nothing. Your employees will appreciate any type of benefit you put into place. It shows them you are committed to improving their well-being and in return you can expect increased loyalty and productivity from your employees.
Next week I will discuss group life insurance and the options available to employers interested in offering this as an employee benefit.
Until Then,
M.J.
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