Owning and operating a small business requires a lot of flexibility. When you don't have a large corporation there typically isn't a lot of room for delegating responsibilities. Each person has their set position and tasks they must handle daily in order for the business to stay afloat. Although you may be still in the early stages and may not think it's necessarily important to offer benefits to your employees, check out some of what you may be missing by not extending a group health insurance plan to see why it's such a great move.
Attract Top Talent With Group Health Insurance
The salaries that you provide for team members is very important. Recruitment statistics show that nearly 70 percent of job applicants check out how much they can expect to be paid when browsing through work advertisements.
However, money doesn't just stop at an hourly wage. If a person has to pay for their own insurance coverage, the fees will cut into their salary and leave them with less take-home pay. This could easily reduce a fairly substantial wage down to barely enough to cover basic expenses. The same set of statistics illustrated that 63 percent of applicants look for the benefits to be outlined in the initial job listing. This could translate into a person who is well qualified with fantastic experience behind them passing up on a job offer from your company if you don't offer medical benefits.
Setting up a group health insurance plan could help make your business appear much more appealing to the kind of people you would love to work with. The extra protection bulks up their overall benefits package and gives applicants an incentive to join the team.
A Healthy Staff Keeps The Business Alive
Have there ever been times in your own life when you really wanted to just go to the doctor for an annual physical, yet you hesitated because you didn't have insurance and worried about the cost? Could you have potentially caught an illness before it blossomed if you would have only seen a medical professional ahead of time? When your employees have a group medical plan they'll likely see a doctor at the first sign of trouble. This is one way to maintain a healthy staff who is always at their posts and ready to get the job done.
Group health insurance covers so many different aspects. Talk with a group health insurance provider to determine which types of coverage you want to include in your new group policy.