The environment for hiring and retaining top-notch employees remains competitive. One strategy for combating high turnover rates is offering a competitive package of employee benefits that goes beyond health care coverage and a retirement plan. This is where the right fringe benefits can really pay off.
One type of fringe benefit that many employers overlook is insurance. Offering certain types of policies to your staff members may strengthen their loyalty to your organization by improving their own peace of mind.
3 coverage types to consider
There are a wide variety of insurance policies you could present to employees as a fringe benefit. But here are three of the more commonly used varieties:
Carefully chosen policy
Most employers help employees with their immediate well-being through health care benefits and with their retirement savings through a 401(k) or similar plan. But your staff members may have other concerns that you might address with a carefully chosen insurance policy offered as a fringe benefit. We can help you pick the right coverage and take full advantage of the tax and employment benefits of this strategy.