Employee health benefit plans have become one of the most expensive parts of running your business. And yet it’s a safe bet that most of your employees have little sense of how much their benefits are worth.
Your financial statements aren’t the only place where the cost of employee benefits should appear. Your business is better off when your employees know the value of their benefits – and your employees do better as well.
Three Reasons Why Your Employees Should Know What Their Benefits Are Worth
To attract new employees
By sharing the value of an employee’s health benefits, your business can attract and retain talent, helping your business grow.
Employees will use their benefits more carefully
Employees that know the cost of benefits will make better decisions about how they use their benefits. When they know the cost, they know the value.
Employees will thank you!
Benefit plans keep people healthy, protect them when they need it most, and provide access to important services. And employees like those things!
At GroupHEALTH, not only do we provide best-in-class coverage and services, but all of our clients have access to our Benestats total compensation statements services. This statement lays out the cost of employee health benefits for each employee, and it explains their coverage in easy-to-use terms.
Don’t hide the cost of benefits from your employees – let them know how much you appreciate them, so that they can appreciate you!