In order to get more value from your employee health benefits, it’s crucial to align them with your business strategy. Employee benefits have a positive impact on the growth of your company, both directly and indirectly.
A good employee health benefits plan can support the growth of your business by helping you:
Attract and Retain Employees
An employee benefits plan can make or break a potential candidate’s decision on whether to accept a job offer, thus increasing your competitiveness in the job market. By retaining good employees, your business is saving money that could instead be spent on growing your business. GroupHEALTH’s Benestats total compensation statements for employees integrates the value of benefits into salary costs, showing employees the true value of the compensation you provide to them.
Sponsoring an employee benefit plan shows employees that you care. As a result, your business will have higher employee satisfaction which could lead to increased productivity. GroupHEALTH embeds services like virtual healthcare and employee assistance programs in all of its benefits plans. Employers get help boosting employees’ productivity, and employees remain healthy and happy.
Offer Tax Efficiencies
Employee benefits are a tax-deductible business expense. You likely have a business strategy that strives for revenue increases and tax efficiency. Your employee benefits strategy should be part of the overall business strategy. There are key configuration decisions that can ensure that your employee benefits plan is getting maximum tax value. GroupHEALTH’s Advisors specialize in finding these opportunities – and building them right into your plan design.