Growing a small business can be a laborious task. With so much to consider from onboarding and training new recruits to seeing to daily operations while trying to keep costs low and profitability high, there is never a dull moment. With that said, wouldn’t it be nice if you could create a benefits package that would eliminate much of the stress from you or your managers? Here are three ways that the right benefits package could not only ease some of your burdens but could help to grow your small business at the same time.
- Recruiting Top Talent
One of the main components of a benefits package is healthcare. This is something most highly skilled professionals look at when being offered a position in their field. Unfortunately, many of the healthcare programs out there have failed our workers miserably as did the once lauded Obamacare. Not only did the Affordable Care Act actually cost American consumers and providers more in the long run but finding providers on most plans was a feat in itself.
One thing you can and should do as a small business is to compare healthcare packages between various providers. Cost, however, is not the only thing. All those extra benefits like pharmacy and grocery discounts along with partnering with independent grocery stores and pharmacies can help reduce time, energy, and cost for members. To see just how a comprehensive medical/dental/vision/hearing healthcare coverage works and to compare coverages between leading networks, click here.
- Employee Retention
If you were to ask any currently employed professional why they have stayed on so long at their current place of employment, one of the leading reasons would probably be peace of mind. Employees want to know that if they should fall ill, there is guaranteed coverage to pay the lion’s share of medical bills. They would also tell you that a comprehensive healthcare plan so unlike the ACA coverages with a single flex card and superior customer service factored heavily on their outlook. Conversely, if you asked any highly skilled professional why they moved on, healthcare and benefits would be one of the leading reasons.
- B2B Small Business Goodwill
One other point you should really consider is how a flex program with benefits like discounts at independent grocery stores and pharmacies can promote goodwill in the community. You will be sending business to them at the same time as you are providing for your employees. Also, healthcare coverage that includes meal delivery, healthy foods and other coverages so many healthcare plans don’t offer is a pleasant ‘extra’ your employees will appreciate.
Along with other perks like annual performance bonuses and paid leave days, a really good comprehensive healthcare package will help you recruit and retain the best of the best employees while assisting in your overall profitability. Remember, those small businesses benefiting from your employees’ business will help them grow as well, hopefully sending business back your way as the need arises. Benefits are a two-way street and that’s your key takeaway for today.
