Voluntary Benefits Insurance
Voluntary Benefits Insurance Information
As an employer, attracting and retaining top talent is integral to your growth and success. Amid a complicated and dynamic labor market, people may be more likely to consider alternative employment options. With that in mind, your organization must consider all possible steps to improve employee attraction and retention.
Voluntary employee benefits packages may be essential to your organization’s attraction and retention efforts. Furthermore, such offerings may help your employees maintain their health and wellness, affecting their productivity and your company’s bottom line.
What Are Voluntary Employee Benefits?
Voluntary benefits allow your employees to sculpt their benefits packages and elect options suitable for their circumstances, needs and lifestyles. They may be used to supplement the more standard benefit offerings (e.g., health insurance) and paid wholly or partially by an employee through payroll deduction. By providing a suitable selection of voluntary benefits, often at a discounted rate, your workforce can receive access to services and assistance they need without burdening themselves with perks and programs that will not be of use to them. Common voluntary benefits options may include the following:
- Critical illness insurance
- Financial planning services
- Health and wellness reimbursement programs (e.g., gym memberships)
What Is the Difference Between Voluntary and Worksite Benefits
In addition to the aforementioned programs, your organization may also find it advantageous to provide employees with various perks while physically at the workplace. Although voluntary benefits can help workers access essential services outside the workplace, workplace benefits may make their time on company premises more attractive. Workplace benefits may also help your business attract and retain top talent. Common workplace benefits may include the following:
- Free or affordable food and refreshments (e.g., breakfast, coffee, lunch)
- On-site medical care (e.g., clinics, vaccinations)
Why Your Organization Should Offer Voluntary and Workplace Benefits
Providing your employees with a collection of attractive benefits can have many advantages, including the following:
- Improved employee health and wellness
- Reduced worker stress levels
- Increased job satisfaction
- Better attraction and retention
Build the Right Benefits Package
We’re here to help. At M A R Financial Group, our dedicated staff has the knowledge and experience to help your organization optimize its employee benefits offerings. We will work with you to assess your circumstances and compile an ideal benefits portfolio for your company and its employees. Contact us today to get started.