Companies of all shapes and sizes are dealing with a hard truth:
No one wants to risk their life for minimum wage!
While many business owners expected employees to “take whatever they could get” once pandemic assistance ran out, many are facing a different reality entirely. It’s been called The Great Resignation, a massive movement toward doing without jobs where people feel their lives aren’t valued.
Ask employees and many will tell you the best way to value them is to increase their compensation.
But there is one thing that matches – and for many employees, exceeds – the importance of their base wage or salary. That one thing is health insurance. If people have learned anything since 2020, it’s that everyone will get sick eventually. Healthcare isn’t “just for the elderly,” it’s a concern for everyone.
Even if you’re having difficulty hiring, it’s not too late to hook a U-turn.
Health Insurance Is The Best Way for Florida Businesses to Break the Impasse with Employees
Let’s face it: The cost of employees isn’t a luxury or a “nice to have.”
It’s a “must-have” input if your business is going to do whatever it does and earn its expected profits.
However, that doesn’t mean you can’t find ways to meet the needs of your employees while lowering the associated overhead. In many cases, you can produce far more value for your employees with the right group health insurance plan than you could if you offered them the compensation in cash.
As a business, you can leverage buying power that simply isn’t available to any individual.
And this is one of the best ways to do it!
Survey after survey after survey demonstrates that health insurance is the #1 most critical item in your whole selection of employee benefits. This has been true since long before COVID-19 first appeared, and it is likely to remain true into the indefinite future. It is a fixture in how employees think.
That’s especially true of top talent who have many different offers they can entertain.
Group health insurance lays a solid foundation for both you and your employees to succeed:
1. With Group Health Insurance, You’re More Competitive – And More Visible Than Ever
Look around at your competitors. Odds are good they’re having some of the same issues you are. Many businesses have dug in their heels, expecting employees will be the first to blink. They’re destroying their reputations in the process, possibly for many years to come.
In an environment of so much angst, a company that recognizes the forces driving change in the labor market stands out. Instead of trying to change the wind, a new group health insurance program allows you to adjust your sails. And you will stand out compared to all of those floundering in the ocean.
It’s not really the case that employees are “demanding more.” Instead, the definition of “the bare minimum” has changed. Medical debt is the biggest driver of bankruptcies in the United States. Without insurance, people know that no matter how hard they work, it can all be taken away.
Take that worry off their plate for good and you’re on your way to becoming an employer of choice.
An employer of choice is one that top talent seeks out, in contrast to those businesses that are at the bottom of everyone’s list. A good package of employee benefits is a huge differentiating factor for brands like these, and employees tend to be more engaged and more productive.
2. Group Health Insurance Means Fewer Health Woes and Less Sick Time
Some business owners believe that better health insurance will encourage employees to take more sick time. Luckily, this is a bit of a misunderstanding. With the opportunity to seek regular preventive care, team members take better care of their health and thereby spend less time dealing with illnesses.
We’ve all experienced just how rapidly a communicable disease can spread through a workplace, leaving it barren. Unfortunately, from a very early age, most people are encouraged to come to work no matter what, starting with school. That can undermine health for the entire group, causing a mass sick-out.
The healthier your employees are, the more time and attention they can devote to their work. Overall state of health affects the quality of a person’s work in many ways: Energy level, ability to concentrate, and much more. Plus, insurance means they will not have to worry as much about the unknown.
Let’s face it, work can be stressful. Any time you can remove stress from the equation, it’s a good thing.
3. Group Health Insurance Is Essential to Reducing Turnover in 2022
In many industries, keeping an eye out for better opportunities is a matter of course. The more skilled and educated your employees, the more you need to invest to keep their attention. That said, there is a clear trend: People are leaving enterprises with no insurance for those with quality health insurance.
Even if yours is a smaller organization not required to offer health insurance, it is still a wise idea to take a close look at the options that may be available. By partnering with a local health insurance broker that understands your company’s unique needs, you can access resources that work for you.
Analysts are holding their breath to see what happens with employment numbers in the first quarter of 2022. Many believe that “full employment” will need to be redefined to a lower level because so many people have left the workforce for good. With plenty of positions to fill, shakeups may continue.
Now is the best time to win over your employees and remind them why they chose you. The better your group health insurance is, the more difficult it will be for any other employer in your local area to fill the gap. Today’s workers are serious about keeping their health insurance intact and uninterrupted.
A Local Health Insurance Broker Will Stand By You In Meeting Your Company’s Needs
When it comes to health insurance, you don’t need to do it all on your own. On the contrary, the experts are waiting to help. To launch the best group health insurance for business, call on Central Florida’s most trusted health insurance broker: Choice.
A health insurance broker is an independent insurance professional. Their job is to make sure you have access to all of the most pertinent information so you can make an informed decision. With Choice, you know you are dealing with an advocate for your needs, not an agent of a specific insurer.
Because we have no sale quotas, we’re able to provide you with side-by-side comparisons of all the top group health insurance options in your area without worrying about what any particular insurer thinks. Our impartial, fact-based advice can help you save more money.
Plus, you can continue working with us any time your insurance needs change.
Contact us to learn more.