No matter the industry, having the right team in place is paramount to expanding your business. Attracting the best candidates and maintaining a skilled staff is vital to building your enterprise, yet small businesses often struggle to measure up to larger competitors. If you are looking to strengthen your team with new hires, or you want to ensure your current employees remain loyal to your company, capitalize on benefit packages. Employee benefits in Fort Lauderdale not only help your business stand out to job seekers, but allow your current team to feel more secure in their position.
One of the most common reasons small business owners don’t offer voluntary benefits is because of costs. However, the cost of continually having to fill vacated positions can quickly become much more costly. Additionally, you may be eligible for business tax deductions. If you are considering employee benefits in Fort Lauderdale, here’s five that can help you expand your business.
Health Insurance
Choosing to provide group health insurance for your employees benefits your business two-fold. By allowing your team members to seek medical care whenever necessary, it can cut down on sick days and lost productivity. Health coverage also helps to keep your staff well and ready to work, as they are able to seek regular check-ups and specialist care if necessary. For employees with children, spouses, and other dependents, this group health insurance in Fort Lauderdale is a major incentive.
Life Insurance
While no one wants to think about the inevitable, life insurance can help to put concerns about what happens afterward to rest. Group benefits in Fort Lauderdale that include optional life insurance policies help to cover funeral costs and support financially dependent family members should the worst occur. These policies offer varying levels of coverage which can be chosen on an individual level, giving your employees the ability to control future planning. When employers offer life insurance, employees feel as if they and their families are cared for and
Vision and Dental Insurance
Does your business require employees to stare at a computer screen for hours? Are you a contractor whose team is exposed to the elements throughout the day? Even if your company doesn’t fall into either category, voluntary group benefits in Fort Lauderdale that include vision and/or dental insurance help to keep your team in top shape. Regular eye exams and eye care can prevent related neurological issues like migraines that can interfere with one’s productivity. Conversely, dental insurance prevents missed days due to pain, fever, and illness caused by dental issues.
Paid Leave
Often viewed as a luxury, paid leave is a large incentive for new and existing employees. Paid holidays including floating holidays, which allow your employees to choose which they would like to observe without worrying about missing hours, help to enforce healthy work-life balance. Likewise, accrual of paid time off over the course of the year can give employees the option to take necessary mental health days or vacations. While this may seem counter-intuitive, employees who are happy, healthy, and feel appreciated in their roles are more likely to stay with their current company, even when offered a different position.
Retirement Plans
As a new company, offering retirement plans may seem like a decision for later. However, putting retirement plan options in place now can help you better compete against larger competitors looking to hire in your same market. Candidates, especially those in higher positions, feel more secure when their company shows interest in helping them plan for the future.
