Employee benefits are essential for attracting talented employees, motivating and engaging your workforce. Putting health and wellbeing at the heart of your benefits strategy makes good sense as a business strategy. Approximately 70% of employees state that they are more likely to take a job if the employer offers a good employee benefits package so even for smaller employers, a competitive benefits package is crucial. However, for some employers the cost of providing a full package of benefits makes this difficult.
It is now possible to offer employee benefits at little or no cost to the employer. These benefits are voluntary and offered to the employees through their workplace. Employers can choose whether benefits are 100% employee funded or partially funded by both employee and employer. This means that employers can offer a full range of benefits and the employees choose which benefits and levels of benefits they require. Many providers offer education and communication to employees during the enrolment window helping employees understand the value of these benefits. Types of benefit that can be covered include life insurance, critical illness cover, dental insurance and cash plans.