Are you like most business executives who are examining every aspect of your workplace, especially your employee benefits plans? Employers are grappling with hiring, retaining, and engaging employees. The key to optimizing your employee benefits is to offer compelling benefits packages and increase employee utilization of these benefits.
Health insurance is the most valued benefit by employees. A recent employee study reveals eye-opening statistics:
- 78% of employees reported that they are more likely to stay with an employer because of their benefits program
- 75% of millennials said that benefits customization is important to increase their loyalty to their employer
In the long run, when your employees find their benefits useful and are pleased with your employer-provided healthcare, your turnover rate will be lower. Understanding this connection between employee retention and benefits is essential. Especially when the cost of replacing an employee can range from 50% to 400% of their annual salary, the opportunity to impact retention by offering more efficient and effective benefits navigation support can be staggering. In the long-term, when your employees find use in their benefits and are pleased with your employer-provided healthcare, your turnover rate is likely to be lower.
Health benefits can help retain employees if you have implemented the right benefit mix that employees want and will use. We can help you attract and retain top talent by crafting appropriate and rewarding employee benefits packages. We ask the right questions upfront and take the time to get to know you and your business. We’ll then work with our wide selection of providers and plans to tailor a program that meets your employees’ coverage needs while staying on budget and keeping your company in full compliance.
Are Employees Using Benefits?
Unfortunately, it’s not enough to have a comprehensive benefits plan. Many employees undervalue the benefits you are offering because the complexity of healthcare plans can be overwhelming and confusing.
We provide you with ongoing tools and resources to market to and educate employees. We address underutilization of benefits head-on so that you maximize the value of your benefits program and your employees get the care they need when they need it.
Late detection or lingering illnesses increases healthcare costs and negatively impacts employee productivity. A significant portion of US adults delayed or avoided medical care due to the Covid pandemic. Now is the time to champion an effort to help your employees know about and utilize their preventative care.
Beyond Preventative Care
It can be challenging for HR and benefits professionals to help individual employees and provide accurate and timely information. PT Business Solutions serves as your point of contact for your employees. Our team actually interacts with your employees for personalized and superior service. We can deliver the most relevant, complete, accurate information or referrals to your people.
You deserve superior customer service. Call PT Business Solutions to discuss your employee benefits.