This month we celebrated Employee Appreciation Day, a day set aside for employee recognition, to show how much you appreciate all the hard work and loyalty of your team. This should, however, be done throughout the year. One way an employer can do this is by helping employees achieve financial wellness. This gives employees peace of mind, and allows them to focus on their work without distractions of personal financial issues. Financial confidence translates to happier less stressed employees.
Many employees underestimate three immediate risks— premature death, loss of income due to illness or injury, and out-of-pocket non-medical expenses, all whichcreate financial challenges. To meet this need, employers can offer voluntary benefits. These products can include life insurance, disability, dental, vision, accident and critica l illness coverage. Voluntary benefits are appealin g to employees because of the flexibility to tailor benefits to fit their needs. As an employer offering, it makes it easy to buy; featuring guarantee issue, easy to complete forms, and payroll deduction means no bill to forget or checks to write. In addition, employees are less likelyto put off considering important security needs.
Voluntary benefits are cost effective for employees and typically cost less than those purchased elsewhere. When employees love their benefit package, they are more likely to stay loyal and contribute their best work.
Make employee recognition and appreciation an on-going effort. Richard Branson once said, “Train people well enough so they can leave, treat them well enough so they don’t want to.”
Please contact us to learn more about voluntary benefits and how to offer a comprehensive benefits package!