As a startup, you’re most likely providing some form of health insurance and a retirement plan for your employees. While this is a wonderful start, you may be missing the types of benefits that will help you attract and retain the best employees.
Ideally, the benefits you offer will allow your employees to grow personally and professionally while mitigating external stressors, such as personal finance and health issues. Developing a robust benefits package can give your startup the boost it needs to bring in high-quality employees who will help your business thrive.
Here are six that could be considered deal breakers:
Don't skimp on the quality of healthcare coverage you offer your employees. Fifty-five percent of employees report that good health insurance is the most important benefit. Thanks to the Affordable Health Care Act, you could qualify for a subsidy if you choose state-sponsored insurance for your employees.
If comprehensive care is outside your budget at the moment, look for options to help employees better utilize insurance benefits without driving up costs.
Consider offering long-term and short-term disability insurance options to your employees to help alleviate the stress of unexpected worst-case scenarios or routine life events. Short-term disability plans, in particular, can make a huge difference for women planning to have children in the next few years. It can give them financial peace as they take maternity leave.
Long-term disability allows employees to seek the medical care they need, even if they know it will mean missing a significant amount of work. These types of provisions create trust and confidence in employees because they know they’ll be taken care of, come what may.
Give your employees the peace of mind that they will be taken care of when they're sick or in need of personal days. Encourage healthy work-life balance by offering a generous amount of vacation time. Some companies even offer 'œunlimited vacation,' meaning that they leave it up to their employees to make reasonable decisions about how much time they need to take off.
Ideally, if you’re hiring the best types of employees, they can be trusted not to take advantage of this freedom. This option allows workers to feel empowered and trusted, giving them the flexibility to make healthy choices in their personal lives.
In addition to excellent healthcare coverage, think about giving your employees more modern options. Many healthcare options are now conveniently digitized, allowing you and your employees to save time.
Consider investing in an online medical app like MDLIVE, which allows workers to consult a doctor without leaving their homes. You could also utilize an online healthcare service, such as Nurx, which gives women the option to order affordable birth control online with or without health insurance.
Give your employees the benefit of flexibility. Whether you allow them to telecommute occasionally, grant flexible hours to accommodate life's ups and downs, or offer mental health days, employees will have an increased sense of trust and comfort in your company.
Encourage your workers to establish a healthy balance between their work and personal lives. In turn, they’ll experience heightened morale and engagement with their work. What benefits them will ultimately benefit you and your business.
Think about making a deal with a local gym or yoga studio to give your employees the benefit of good health. Offer healthy snack and beverage options in the office space, even something as simple as filtered water or fresh fruit. What about standing desks, windows and lots of natural lighting, or outdoor seating and walking trails?
These simple but meaningful touches make the difference for an employee who values health and wellness and seeks a workplace that will promote this type of living. And, of course, healthy employees benefit the business.
Think creatively about ways to give your employees the very best treatment, even from your business’s early days. Strategically choose insurance options that will provide financial peace, and provide your workers with benefits that promote health and reduce stress. Give them a place where they feel safe to have a personal life, and they’ll give you valuable work in return.
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