Employee Benefits Solutions
Enhance your employee offerings to attract and retain top talent in a competitive job market.
Voluntary Employee Benefits
Boost your hiring strategy with top-notch voluntary benefits to help you hang onto new hires and seasoned employees alike!
Attract Quality Talent
Voluntary benefits can significantly improve employee satisfaction and loyalty, making your business more competitive.
Boost Employee Retention
Offering voluntary benefits helps create a supportive workplace culture that encourages long-term employee commitment.
In today’s age of increased expenses, lower enrollment and a tough job market, employers are continuously working to provide more without increasing costs. Many employers feel they have found their solution using voluntary benefits (sometimes called worksite benefits) to offer a more robust benefits package with a smaller financial outlay. Voluntary benefits are insurance policies provided by companies or employers at some discount, partially or solely paid through payroll deferral (pretax) by the employee. They do not have a direct cost to the employer and are fully paid by the employees. They are used to meet a diverse range of needs including disability, critical illnesses, accident insurance, financial counseling, legal services, ID theft/protection, etc. They are appealing because voluntary benefits offer group rates that workers may not be able to obtain on their own. These plans can be age rated but are often times locked at the rate the employee buys them and never go up.
Voluntary benefits are a great way for employers to provide benefits not only to full-time employees, but to part time or non-benefit eligible workers as well. This is a great recruitment and retention tool. The employer can offer these benefits as a true voluntary benefit (100% employee paid) or contribute toward these products. The contribution can be a set dollar amount (for example $100 a month) or a percentage of cost (will cover 50% of the premium). Each strategy has advantages. Speak with your employee benefits agent today to learn more about how you could implement this in your business. The employer often makes a strategic plan to provide voluntary benefits by surveying their employees to ensure the options provided are attractive to its staff. Another approach can be to utilize the services of professional employee benefit platforms or benefit administration systems that can make this even smoother. These platforms are often tied to your payroll and accounting software. Offering too many voluntary options can make it hard for the employee to handle financially or to decide what to choose, so it is better to offer limited options to start based on those that are popular and beneficial to the most employees. Additional products can be offered in future years. A "starting menu" could consist of hospital indemnity, critical illness, dental, and/or life insurance, but there are many more...
Why Offer Voluntary Benefits?
The Top Five Reasons Employers
Offer Voluntary Benefits and Services:
#1 To enrich existing core benefits by
offering more personalized options
#2 To appeal to a multi-generational workforce
#3 To support employee financial well-being
#4 To attract new employees
#5 To support employee retention
For more information about Voluntary Benefits, and to obtain a custom benefits proposal for your business, submit your mobile phone and/or email address below. you'll receive a questionnaire to help us determine how we can best be of service.
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865.264.0652
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