In today’s competitive job market, employees expect more from their benefits plans than ever before. Basic benefit offerings just aren’t enough anymore.
If you’re an employer, offering employee benefits is a great way to motivate your workforce. Whether you are looking to offer life cover, pension contributions, or ‘flexible benefits’ like discounts on eating out, cinema tickets and alike, the increase in staff morale will be a huge benefit to your business.
An employee benefits insurance plan typically includes the following coverage: life assurance, income protection, dental cover, pensions and more. Having substantial employee benefits cover could be the difference between an employee choosing your business over a competing company. By helping to deal with the financial pressures of being off sick, employees can focus on getting better and back to work.
Most employee benefits extend to immediate family and can be used to cover dependants. There is an increasingly popular trend for employers to cover staff members' dependents as this provides peace of mind for your employee. It also helps with the attraction and retention of top-quality staff when comparing your company to competitors, or larger organisations with similar benefts.
When looking at what policy to buy it is important that you consider what cover your business needs. Carrying out a risk assessment of your business and its daily operations will help give a better understanding of your business and its requirements when looking for cover, in order to ensure that you have a policy to suit your needs.