Is Your Employee Benefits Program Ready for What’s Coming Next?

I know its crazy right now, and with businesses just beginning to reopen around the country there are so many things we still don’t know about the future. But one thing we do know, to be successful we will need to keep our employees. To do that every business owner needs to be ready to face the competition. Are you ready?

Check out this article by Ron Herrmann https://bit.ly/2Ladl72. He has some great ideas about how to make sure your employee benefits package is well positioned to be at the front of the line when employees start looking for their next opportunity.

When you are ready to explore your benefits options, give me a call or send me a message. Give me 30 minutes and I will show you how 3to99 can help you develop a benefits strategy that lets you be an industry leader in team recruiting and retention.

How will you meet employee benefits challenges after Covid-19?

Businesses are beginning to reopen, and employees are coming back to work, or are they? Many employers are already discovering that some employees are not ready to come back. And even worse, some of the best workers in the work force are getting multiple offers from companies competing for their commitment. Now, more than ever, employee benefits can be the key to finding and keeping the team members you really want to have.

According to Kim Buckey, Sr. VP of Client Services at DirectPath, every employee has a different idea of what constitutes a good benefits package. But there are some key elements that work together to make a benefits package strong and effective. Read her article (linked here) and then give me a call or send me a message and let’s connect to see how we can help you make sure your business is in perfect position to recruit and retain the highest caliber of employees for the future.
#peoplematter #employeebenefits #healthinsurance #voluntarybenefits #benefits

Are Voluntary Benefits the Right Solution?

The past few weeks have found me spending most of my time talking with the leaders of small businesses about employee benefits.  The starting place for most of these conversations has been the question, “what can I do about benefits when I don’t have any money in my budget to pay for that”?  It’s a great question and it touches lots of pieces of the small business owner’s team building strategy.

In a recent article Corporate Wellness Magazine hit this topic dead on. (see the article at http://bit.ly/2JHpEWp)  They wrote that the solution for many (most?) small businesses is to offer voluntary benefits.  This is most certainly the right option for almost every small business and there are lots of ways to put them in place.  Here are some things to consider.

  1.  Any business with 3 or more employees is potentially eligible to add voluntary benefits to their benefits plan.
  2. You have a number of options for insurance carriers to find the right fit for your small business.  While we prefer and usually recommend Aflac, they are not always the right solution and we believe every business should have an adviser who brings all of the options to the table.
  3. Voluntary benefits offer flexibility to the team because each individual can choose the benefit options that best meet their budget and best cover their individual or family risk.

Now consider this. Many small business owners in the process of exploring voluntary benefits discover that one of the best ways to attract new talent and reward their current team members is to offer to pay for one or more “supplemental” or “voluntary” products.  And the cost is surprisingly low.  Here’s an example:

We recently worked with a small business (only three employees) to help them develop a benefits strategy.  In the process we helped them figure out where to get health insurance for themselves without paying the high cost of an individual market place plan.  We also helped them review voluntary options with Aflac.  As we were going through those options the business owner had an ahh haa moment.  They realized they could offer every team member Accident/Injury coverage for less than $34.00 per month per employee.  When they did the math they figured out their total cost for this plan was equal to less than .20 cents per hour.  They had been considering offering a .50 cents per hour raise to their team.

The business owner discussed this with the employees and learned, much to their surprise, that the employees would rather have the benefit than the raise.  Why?  The raise, after taxes, would net the average employee somewhere around $18.00 per week.  The insurance plan would give them coverage to protect against accident or injury that could be worth thousands of dollars to the individual employees.  For this team, that mattered more than the small increase in weekly pay.

Here’s the point. Small business owners have options.  Too often the problem is that you don’t know what the options are.  We are here to help with that.  Contact us today to schedule a review of your benefits options. We promise, the time will be well spent.

Cheers,

Kevin