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6 Group Benefits to Pay Attention to in 2023

Happy Employees

As an employer, you want to make sure your business is competitive and attracts quality employees who are motivated and productive. Providing excellent group benefits could help attract the stars in your industry, so you should make sure you are offering the perks top-tier employees want.

Group Benefits You Should Consider Offering This Year

Just as you are looking for the best employees to fulfill the roles at your company, they are looking for employers who meet their needs. Offering the most coveted group benefits could ensure you stand out from other companies like yours. These are the group benefits you should consider offering your employees:

    1. Health insurance: Health insurance, including dental and vision insurance, are the most sought-after benefits. When you provide employees with resources for medical care, along with preventative care and wellness support. Healthy employees tend to be more productive, happy, and miss fewer days.
    2. Life insurance: Often, employer-provided life insurance policies are group-term life insurance. That means the insurance provider would give you a master contract, which extends coverage to all staff members for a specified period. A group-term plan is usually less expensive than the cost of individual policies.
    3. Retirement savings: Retirement savings plans are a benefit employees look for in a benefits package. There are many retirement options available to business owners, such as an IRA plan, a 401(K), or a simplified employee pension (SEP) plan.
    4. Disability benefits: When an employee becomes ill or gets injured and cannot work, disability benefits could provide the support they need.
    5. Paid vacation time: Everyone needs time off to decompress and unwind, so it is important to offer paid vacation time. Paid vacation time is not the same as paid time off (though you should offer this as well), which allows employees to schedule personal days off from work.
    6. Family leave: Family leave is another significant benefit. It includes maternity and paternity leave, allowing parents to welcome and bond with new babies or adopted children. With this benefit, an employee could take as much as 12 weeks off from work.

When your employees feel they are valued and supported, they are more productive, engaged, and focused on achieving the milestones set by owners. Employees who feel appreciated, both in management style and benefits, are more likely to stay with a company with a higher rate of retention.

Group Benefits – We Are Here to Help.

To improve employee retention, the right group benefits package can make a big difference. Our insurance agents can help you find the best plans at the most affordable rates to attract and retain the best employees. Connect with one of our insurance agents today to learn more about the group benefits packages that will work best for your employees and your bottom line. Our agent can create a custom group benefits package that is a powerful attraction for the best employees.

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