Many small businesses are more concerned with the salary they can give their employees versus the benefits package. While a good salary will set you apart from your competition, so will offering a good benefits package.
Hopeful employees know that having a good health insurance plan in place makes the job leaps and bounds more appealing than companies that either offer poor benefits plans or none at all.
Benefits of offering a good benefits package
The only way your business is going to successfully grow and produce a substantial revenue stream is by having the right employees in place. As a business owner, you can only do so much.
To start out, you probably wore all of the hats to get your business up and running. You were the accountant, the marketing guru, the salesman, the social media coordinator and the laborer.
As time goes on, if you wish to grow, you’re going to have to hire people to take some of the load off of your plate. You don’t want to hire just anyone, though.
You should look to hire educated, experienced people who will add to your business and help it succeed.
To stand out from the pack, offer a good incentive plan.
Advantages of offering a good benefits package include:
• Employees will not want to lose their job – These days, employers may pay anywhere from a few thousand dollars per year for an individual health insurance plan up to $15,000 per year for a family health insurance plan. If you are one of the rare companies able to offer good health insurance, your employees will not want to leave you. They’ll work hard, show up on time, be respectful and do what it takes to succeed at their position.
• You’ll attract long-term candidates – People who are looking for a job just to get by probably aren’t too concerned with benefits. They’re also probably not too concerned with the success of your company long-term. On the flipside, those who plan on staying with a company for the long haul are going to look for long-term benefits, such as good health insurance, a retirement plan and paid time-off.
• The employees will be happier and therefore, more successful – A happy employee is a productive employee. With good health insurance in place, the employee will visit the doctor regularly in addition to seeing the doctor for colds and flus. They’ll also appreciate their time off and look forward to their vacation time. Studies show that employees who use their vacation time each year are more productive overall. We all need a break from the office every now and then no matter how wonderful the job may be.
According to the article “Health insurance considerations for job seekers”, choosing a job with good health care coverage will have a positive long-term effect on both your finances and your health.
Americans understand the risks of being uninsured and usually want to provide them and their families with the best health care coverage possible.
As a small business owner, you don’t want to lose great candidates to your competition simply because they offered a better benefits package.
Set yourself up for success and get the best, most qualified candidates to choose you because of your stand-out benefits package.
About the Author: Sarah Brooks is a freelance writer living in Charlotte, NC. New to the city, she enjoys spending time outdoors and exploring the area. She writes on a variety of topics including health insurance, small businesses and personal finance.