Healthy, Productive Employees
When your benefits package includes a combination of health insurance and dental and vision coverage, you will have employees who are able to take a proactive role in managing their health. They will have easy, affordable access to health care, reducing absenteeism due to illness.
When they are on the job, healthy employees are more productive than sick ones. It’s beneficial for your company’s productivity and your employees when they have access to medical coverage and time off when they are sick.
A good benefits package leads to satisfied employees with higher morale. Employees who find value in their benefits are typically more willing to commit to their company because it helps make them feel valued—which leads to increased productivity and decreased absenteeism.
Efficient Use of Resources
Offering valuable benefits can help lower top employees’ expectations for salary. Many employees are willing to accept good benefits in lieu of a slightly higher salary.
This is an advantage to your budget because the value you present to employees with benefits, especially health insurance plans, can be monetarily equal to a raise in salary for them, while costing you less due to group rates and lower payroll taxes. Employers can avoid the hidden cost of paying extra payroll taxes on higher salary by instead offering benefits to provide similar value to employees.