The Employee Benefit Research Institute conducted a study examining Americans’ satisfaction with health care. According to the EBRI, 69 percent of respondents reported that benefits were very important when choosing a job- another 20 percent indicated they were somewhat important. And health insurance ranks at the top of that list. Six in ten employees (58 percent) listed health insurance as the most important benefit; a retirement savings plan in contrast trailed behind at 18 percent.
Competitive organizations need benefits plans not only to attract employees but to keep a high rate of retention in their company. Employees are more satisfied with their job overall and are less likely to leave it when they have a good benefits plan.
But it goes beyond simply providing the plan- a successful employee benefits plan must have active employees. Educating and communicating with them on their options and how to get the most out of their benefits can help business owners ensure their dollars are being spent wisely. Employees are also aware of what they’re getting and are appreciative of the effort employers are making to take care of them.
At Sinclair Risk & Financial Management, we understand 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 plant that is attractive, offers more choices, flexibility, and customization with your organization’s financial ability by spending smarter, not more. contact us today for more information.