Your staff is your greatest asset, and very few companies can operate without them. Staff benefits are no longer just about ‘making staff happy’, they are an essential part of employment contracts for most people.
Work isn’t just about pay – many studies have shown that employees consider good employee benefits (including private health insurance in particular) more important than a high salary.
Employee benefits:
Attract more and better candidates during recruitment
Enhance employee loyalty
Greatly increase staff retention
Make employees happier!
It is worth noting that in particular, research shows that health insurance is the most important part of any benefits package, and is especially highly valued by employees. Also, 20% of employees rate life insurance in their top three employee benefits (AIG Life Group Protection research, 2018) – and it is both low cost and tax efficient. Most large companies provide life insurance, but only 19% of SMEs do, making them uncompetitive when recruiting the best talent, although this benefit is low cost.
