Providing health insurance plans for your small business is a great way to attract new employees, improve workplace satisfaction, and foster a community of well-being. To help you understand the benefits of offering your employees affordable access to health insurance coverage, the insurance solution professionals at DFSIN TORONTO WEST have highlighted a few reasons for you below.
4 Reasons to Provide Health Insurance for Your Small Business Employees
1. Appealing to Potential New Hires
According to surveys by Glassdoor and Fractl, the majority of job search candidates expect to receive health insurance benefits from their prospective employers. Whether you’ve recently opened for business or you’re experiencing a period of growth, getting small business health insurance coverage will improve your company’s appeal to possible new hires. Showing your commitment to a candidate’s personal and familial well-being will send a strong message from the employer that they’re a long-term investment.
2. Keeping Employees Happy
The results of a Glassdoor Economic Research Survey show that access to health insurance plans is the leading benefit that influences job satisfaction. Investing in small business insurance will not only attract better talent, but it will also ensure that your best employees remain happily committed to your institution. What’s more, happy and healthy employees will be more productive on the job, thus improving performance on an individual, group, and organizational level.
3. Providing Accessible Coverage
By purchasing small business health insurance, employers are leveling the playing field for their team by providing them with access to affordable coverage. According to a study published by the Employee Benefit Research Institute (EBRI), the overwhelming majority of employees feel that access to health insurance plans contributes to higher levels of economic security. If you want to retain your talented workforce, it’s worth the investment to provide them with insurance.
4. Fostering a Community of Support
When employees feel supported by their employers, they not only have higher levels of job satisfaction but an enhanced sense of community as well. According to the Harvard Business Review, small business insurance plans contribute to a larger culture of well-being; when employees are healthier—mentally, physically, and emotionally—they’re more likely to be happier, more productive, and committed to developing their potential at your workplace.
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