The Benefits of Benefits

Running a successful business means taking care of your staff. Your employees are the ones on the front lines, walking through each client’s pain story and delivering outstanding results! Taking a small step to invest in the long-term health of your employees builds a strong foundation for your practice. Investing in your employees means higher client satisfaction, higher employee retention, and a better employment brand. 

Satisfaction
When your employees are happy your clients get better service. Studies show, companies with an employee engagement rate of 50% or higher retain 80% of their customers. Why? Because happy engaged employees are motivated to do their best work. Benefits are a great low-cost way of incentivizing employees to do their very best for you. A study by Aflac found that there is a direct correlation between job satisfaction and benefits offered. 96% of employees who were happy with their benefits package were also happy with their jobs; those are staggering statistics, to say the least. It’s no secret then that employees value benefits. In a recent survey from Monster.com, more than a third of people chose healthcare as the most important benefit from an employer. In another survey by Sanofi-aventis Healthcare, employees were asked if they’d rather keep their benefits coverage or receive $20,000, almost half of employees opted to keep their benefits.

Retention
Studies predict that replacing an employee can cost a company as much as 50–60% of that salary. Keeping employees, and keeping them happy, should be a top priority at your clinic; it’s also a great way to watch the bottom line and save money in the long run. As a bonus, long-term employees build lasting relationships with clients and show how trustworthy and stable your practice is—a must in healthcare! A simple way to decrease turnover, and training costs, is to increase the value of working at your clinic. A benefits package will help you do just that. Aflac found that 15% of surveyed employees had left or turned down a job in the last 12 months due to the benefits offered!

Employment Brand
Working for an independent clinic already has huge perks, why not add benefits to them? Attracting high calibre employees is easy when you already have a great corporate culture, flexible hours, personal autonomy, and authenticity of care. Adding health benefits is just the cherry on top. Not only that but, you will set yourself apart from other employers as only 75% small to mid-size businesses offer benefits. Your good reputation, great work culture, and now benefits will go a long way to boosting your reputation attracting top talent candidates.

With all the benefits of benefits, it’s hard to argue against them. Don’t worry, providing benefits to your employees doesn’t have to be a big payout; with InnoCare Benefits providing comprehensive coverage for all your employees is affordable! 

You can learn more about the benefits of Benefits here.