Insurance is a bonus that sometimes comes with employment. It is a way of creating loyalty to the company without the huge expense of a pay increase. Providing insurance for your workers can be an expensive arrangement, but it can also be a great way to give a little back to the community and a great way to keep your employees loyal to you.
In a market where employees switch between employers as frequently as once a year, this is something to be seriously considered. This article considers some of the policies which can help your staff and help you to keep them in your company.
Insuring the life of your workers is a good way to keep them on board. What it offers to the employee is assurance that even if something terrible happens to them, they will be able to leave their families in comfort and safety. Caring for your family is an entirely human response to life and the idea that work can help you to protect them is already a strong one. Offering this as a perk of the job makes it possible to tie the bond of family protection to your company, and this will likely lead to it being viewed in a better light by those working under you.
There are many different types of life insurer and it is important to work with the correct one. Combining the policies with your company insurance will greatly reduce the cost, but it is also beneficial to opt for extras like funeral cover to immediately ease the burden. Remember that the better the families of the deceased are treated by the company, the more faith workers will have in the support that it offers.
Health insurance is another policy that it is great to offer to your workers. The health of your workers is important to you because they will be far less productive if they are injured or ill. This makes it mutually beneficial to look after the health of your staff. To create a greater system of protection for your employees, however, offering family health insurance is a great way to keep them loyal to you.
The protection of a worker’s family is the protection of everything they care about. Losing such cover will be expensive too, so they will likely think twice about moving to a new company instead of staying with you.
Vision and Dental Insurance
Many Australians have neither vision nor dental insurance. These are types of insurance that many people neglect and offering them to staff can be a wonderful perk of the job. It is something that will greatly attract employees because it is an extra which they are unlikely to already have. Whilst it does not carry the same overtones of family protection, vision and dental insurance can have a big difference on the lives of your employees. It is a way to give back to your staff and it will likely create a sense of appreciation amongst those who improve their eyesight or dental conditions whilst working for you.