What is the value of offering voluntary benefits to your employees? Never mind that most of your employees need the products, need the benefits. Never mind that nearly two-thirds of Americans can’t put together $1,000 in an emergency without borrowing it. Never mind that deductibles, coinsurance, and copays have been increasing year over year. What’s truly the value to you, the business owner, for the “hassle” of offering extra benefits to your employees?
Let me ask you, why do you offer benefits in the first place? Isn’t your benefit package already one of the biggest line items in your budget? What do you hope to get out of that expense? Isn’t it to attract and retain the best work force possible? It’s been a long time fact that your benefit package is a big reason employees consider joining your company or stay with your company, second only to salary, and sometimes the benefit package even trumps the salary when it comes to why employees pick where they work.