Recruit and retain your best with voluntary benefits

Elevate employee satisfaction with voluntary benefits

Offering voluntary benefits, including unique perks like pet benefits, has become a compelling strategy for companies seeking to attract and retain top talent. Keep reading to learn more about how voluntary benefits go beyond the traditional benefits package and show a commitment to employee wellness that can set an organization apart.

What are voluntary benefits?

Voluntary benefits allow employers to provide additional perks at discounted group rates, with employees contributing through payroll deductions.?

• Health-related voluntary benefits offer options like critical illness, disability, and accident coverage, as well as dental, vision, gym discounts, and telehealth access.?

• Financial wellness voluntary benefits like financial planning, student loan assistance, and investment guidance to help employees meet their financial goals.?

• Security-focused benefits, including identity theft protection and home insurance discounts, to enhance employee peace of mind.?

• Personal and miscellaneous benefits, such as pet insurance, employee assistance programs (EAPs), car insurance, travel insurance, and policies supporting remote and flexible work, cater to the post-pandemic work landscape.?

Dive deeper into voluntary benefits by reading our blog post or checking out our Benefits Buzz podcast episode below.

How do pet benefits improve recruitment and retention?

When we surveyed our participants earlier this year and asked which benefit they were most interested in learning more about, pet insurance ranked third in their responses. Just like humans, pets can unexpectedly encounter health issues or accidents that lead to expensive veterinary bills. This is precisely where the importance of pet benefits comes into play.?

Offering benefits like lifestyle spending accounts (LSAs), accident-only coverage, illness coverage, and even health savings accounts (HSAs) and flexible spending accounts (FSAs), helps alleviate the financial burdens of pet ownership and shows your employees you care about what matters to them, while also helping you stand out to potential employees.

Find out more about the recruitment/retention potential of pet benefits in our blog post or watch our Benefits Buzz podcast episode below.

Perks of pet-friendly policies?

Offering pet-friendly policies to your employees, like voluntary pet benefits or allowing pets in the office, comes with several notable perks. Consider providing pet insurance, which offers protection for both the business and its employees by safeguarding against potential liabilities from pet-related incidents. And offering pet-sitting discounts is an excellent means of expressing appreciation for your employees and their beloved pets by ensuring that your pet-owning employees don’t have to worry about finding dependable and cost-effective pet care while they’re at work. Pet-friendly policies can also help reduce employee absenteeism and tardiness, as well as attract new talent.?

Learn more about the perks of pet-friendly policies in the workplace here.

Also, don’t miss these!

• Participant survey: Why benefits options matter
• Top benefits trends?
• Boost your retention efforts
• LSA plan design questions

The information in this newsletter is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.?

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