Employee Benefits: The Value of Flexible Benefits Plans

New concerns have made significant changes in our approach to healthcare & flexible employee benefits

According to a survey by a major national consultancy, 62% of employers currently offer flexible benefits packages and a further 21% plan to do so in the future. Flexibility in options can be a great draw to employees and can help cover a wide diversity of families and illnesses. It has the potential to be both recruitment value for employee engagement and retention.

It is a new approach to traditional forms of healthcare as new healthcare concerns rise. Obesity rates are skyrocketing, putting more and more people at risk for heart disease. Increasing healthcare costs have companies struggling to provide for their employees, while the Affordable Care Act is only going to further alter the industry.

There are now a wide range of options companies are taking to protect their employees’ health, ranging from the norm to the unconventional. Wellness programs are implemented, including everything from exercise plans to nutrition information to help educate employees on the benefits of a healthy lifestyle. Treadmills have been incorporated into desks, and some companies are even providing exercise classes or have made “walking tracks” around their office to encourage people to get up and move.

The benefits of a strong benefits plan are undeniable. It is key to attracting and retaining employees. Many of the new benefits plan incorporate healthy lifestyle choices, and reducing their risk of disease. This preventative approach through a flexible wellness/benefits plan can also cut down costs for the employer.

Sinclair understands that an effective Employee Benefits program is key in hiring and keeping top talent and in helping employees with life needs. We’ll help you strike the right balance in offering employees a benefit plan that is attractive, offers more choices, customization, and flexibility with your organization’s financial ability by spending smarter, not more. Contact us today for more information about our Flexible Employee Benefits Plans

Source: HI Magazine