While most entry-level employees simply concern themselves with the salary that they will make, more seasoned ones understand that the associated benefits package can also provide a significant boost to their financial health and overall well-being. With that said, it is up to the HR people in your organization to communicate this concept to each and every employee. Here is what they should focus on:
Health benefits – In addition to the standard healthcare, dental and vision insurance programs will leave your employees free to concentrate on their work duties and not be constantly consumed by worries about the health and welfare of their families. It is a benefit of immeasurable worth as priorities can be properly assessed and dealt with – employees will deal with their responsibilities while healthcare workers will tend to any sick or injured member of their family.
Retirement benefits – While long time employees will inevitably turn their attention to such investment vehicles as IRAs, 401Ks and annuities, it is also beneficial to point out their benefits to less senior employees. In both cases, their financial future is secured to some degree with a minimal loss of current income.
Insurance coverage – Similarly, life insurance, disability and long-term care aim to protect an employee against the unimaginable – permanent sickness, a significant injury and even death. It is another benefit that allows an employee to place another worry on the back burner so that they can focus on their more immediate duties.
Profit sharing – If you really want to motivate an employee to see your company grow and thrive, give them a “piece of the action” through profit sharing. Even a relatively minor position or small number of shares in the company can mean a significant boost to their earnings and to their concern for the welfare of the company. It is almost guaranteed that everyone will pull together as a team.
There is nothing particularly complicated about understanding employee benefits but their implementation is a significantly more complicated matter especially when the government gets involved. For more on this topic or for help in motivating the folks in your organization in other ways, please contact us at Lewis & Palmer Benefits. We can be found online at LPBenefits.com or reached directly by phone at 954-308-7204.