Small businesses often struggle to provide better health benefits to their employees. However, properly doing it makes the process easier. Here is how small businesses can provide better health benefits to their employees and keep them happy.
Offer More than Just Health Insurance
Happy employees are more productive, and happy employees lead to more customers. So, as a small business owner looking for ways to keep your crew happy and healthy, you need to make sure that your company’s benefits package is as robust as it can be.
Health insurance is vital—and it should be part of your benefits plan—but it’s not the only thing that matters. Employees might want dental insurance or life insurance, disability insurance, or pet insurance (yes!). And they’ll want these things at different price points depending on their needs and preferences.
Make sure that you’re providing a variety of options for each benefit so that everyone has access to what they need to feel comfortable with their plan. Also, make sure that if an employee wants something specific added to their plan, they’re able to offer input into how much it costs per month. So, they aren’t paying too much out of pocket every month after getting used medications covered by other carriers.
Work with an Insurance Broker
You can also work with an insurance broker to help you find the right plan for your small business and employees. A good broker will be able to assist you in finding a policy that fits both your budget and coverage needs. They’ll also be able to point out any gaps in coverage so that they can be filled before it’s too late.
Give Your Employees a Say
One thing that employees love is to have a say in their health benefits. Giving employees a voice in what kind of benefits they would like, for example, is a great way to make them feel valued and appreciated.
That doesn’t necessarily mean you have to offer every type of benefit your employees want. However, giving them the option to choose from several different options can go a long way toward keeping them happy with their employee package.
Keep Costs Down
As a small business owner, you know that keeping your employees happy is a top priority. You want to keep them at work and productive while maintaining a safe and secure environment. However, it is also vital to make sure that you’re not losing so much money on benefits that it affects the financial health of the company.
While there are many ways to reduce these costs, here are seven specific things small businesses can do:
- Look for ways to save money with employee health insurance plans.
- Save money on employee benefits by offering discounted services from local vendors or finding free resources online as part of an incentive program.
- Encourage employee wellness programs like free gym memberships or healthy food discounts in exchange for completing healthy activities during work hours (e.g., walking meetings).
- Consider rewarding employees who participate in voluntary wellness programs with a cash bonus based on their improved health metrics (e.g., weight loss).
Look for Ways to Keep Employees Happy
There are many ways to retain your employees and make sure they’re happy. These include providing benefits other than health insurance.
Some small businesses try to offer their employees the same perks and benefits as larger companies, but that can be expensive for a small business. Instead, look for unique ways to keep your employees satisfied with their jobs.
- Allow them to work remotely: This can be as simple as allowing them some flexibility in their schedules or allowing them time off during slow seasons when there is no need for their services.
- Offer flexible work schedules: You might not need everyone working in an office full time or even on any given day; consider giving people more control over when they come into work and when they leave each day (or week). That will give all employees more flexibility while still keeping costs down by reducing overhead expenses related to facilities maintenance, utilities, and other overhead costs associated with having people at one location all day, every day.
- Let them take vacations: If it is possible within company policy, allow your staff members some paid time off, so they have breaks from work without worrying about losing paychecks.”
Give Employees Access to Wellness Programs
In the modern workplace, it is not just about making sure your employees have a place to sleep and something in their stomachs. Nowadays, it is also crucial to make sure they’re healthy, happy, and well-rested.
When you offer wellness programs for your employees, you’re investing in their futures—and saving money on health care costs. These programs can be as simple as providing discounts on gym memberships or offering free flu shots each year.
Other companies may offer more advanced programs that can help keep your workers fit, such as nutrition counseling sessions or mental health support groups. If you can accommodate them in your budget or plan, you can opt for those as well. Moreover, it’s worth exploring how wellness stipends improve employee outcomes. These stipends empower employees to prioritize their well-being by providing them with the flexibility to choose the wellness services or activities that resonate with them the most. By including wellness stipends in your benefits package, you can enhance employee engagement, satisfaction, and overall performance.
