Business owners everywhere are constantly looking for ways to evolve their business, how to be more profitable, and how to keep their employees happy. After all, it goes without saying that a happy group of workers means only good things for the efficiency and profitability of your organization: decreased recruiting and hiring costs, increased productivity, and a stronger brand reputation.
One way to increase your employee’s happiness and, tus, your employee retention rate is to diversify your healthcare benefits options. In today’s article, we talk about why that has a positive effect and how you can do it at your company!
Employees Are All About Choices!
The world today is different than it was ten, fifteen, or twenty years ago. As technology and society have continued to evolve over the years, people in general have become accustomed to having choices in almost every aspect of life.
From what to have for dinner to where to travel on vacation, the choices are endless and the world is at the fingertips of everyone! With that being said, employees will appreciate having a spectrum of options in front of them when it comes to their healthcare.
The Employee Benefit Research Institute’s 2015 survey showed results that support this idea. They noted that roughly 40 percent of employees prefer to choose their own health insurance policy, and 80 percent say that having a say in choosing their own health benefits is either “extremely important” or “very important.”
To add to that, MetLife’s 15th Annual U.S. Employee Benefit Trends Study revealed that nearly 74 percent of employees cite the ability to customize benefits as an important factor when they’re considering a new job.
Why is Group Health Insurance Alone Not Making the Cut?
You may be scratching your head and asking why group health insurance doesn’t make the cut when it comes to what’s offered at your business. The reason behind that lays in the fact that this doesn’t offer employees the freedom of choice.
According to Zenefits, on average, employers offer their workers two options when it comes to their healthcare, but employees are seeking more.
Group health insurance isn’t always the best option for an individual, depending on what it offers, so it could be easier for them to have a more personalized healthcare plan.
What Can You Do About It?
To help bridge the gap that a lack of choices presents, your company can offer more diversified healthcare options, such as Direct Primary Care (DPC).
DPC is far from traditional health insurance, as it allows employees to “subscribe” to a primary care physician’s practice, granting them the right to visit whenever they need to receive care and eliminating the need for an insurance provider to be in the middle of the mix.
This could be a more comprehensive and functional model for so employees, and it’s a great way to offer something different!
To learn more about DPC and why it may be a great benefits offering in your office, contact us today!