The Importance of Employee Benefits

benefitsIf you are an employer, you know the importance of finding and keeping good employees. The staff is the backbone of any company, and without them, the company would not be able to exist. This is what the group benefits Edmonton follows. It is crucial, then, to create an environment where employees are properly compensated and made to feel appreciated for the work they do. One way to ensure this is to offer an employee benefits program with sufficient benefits to attract and keep quality employees.



Why is having employee benefits of such importance to a company?

Attracting Quality Employees
When job-seekers are looking for a new place of employment, there are many factors to take into consideration – job duties, pay scale, distance, a possibility for advancement and, yes, employee benefits. If all things are equal (or almost equal) between two companies except that one offers benefits and the other doesn’t, the job-seeker will almost always go for the position that will offer him or her benefits. And, why not? It shows them that this company values its employees enough to offer them more than just a paycheck. You want to have the best employees possible and offering benefits is a good way to attract quality employees for any company.

employer-solutions-employee-benefits-lifecycle•Keeping Quality Employees
Employee turnover within a business is not good for anyone. For the current staff and supervisors, it takes extra time to train new employees and help them learn about the company and their job duties. For the customers, it often means slower service or possibly errors being made as the employee trains to learn the new job. The hiring process in itself costs time and money, sometimes a lot of time and money, depending on the company and the amount of paperwork, interviewing, screening, etc. that is involved. It is, therefore, to everyone’s benefit to keep the employees that are currently there. One way to do this is through benefits.

If an employee has earned vacation time, has “great insurance or other benefits, he or she may not be so quick to leave for a better opportunity.” says IPC, at Sure, some will stay at a place with no benefits just because they need their job, but the employer risks losing them as soon as a better offer comes along. Offering a benefits package is an incentive for the employee to keep what they have by keeping their job.

An employee that feels appreciated will work harder and better overall than one who doesn’t. If an employee feels like the company only offers them the bare minimum of a paycheck and nothing more, they may begin to match their effort to their perceived effort of the employer. Offering an employee benefits package shows that the company values its employees and wants to improve their quality of life. When an employee feels valued, they respond by being valuable. It’s the principle of sowing and reaping, and it works. Giving extra incentives to employees increases morale by increasing feelings of appreciation and respect, which is then reflected in the work and attitude of the employee.pie chart

Of course, offering employee benefits is not a requirement, and in some small businesses, may not even be possible at first. But in businesses where it is, it can be a very important and tangible way to improve the quality of employees, the longevity of employees and the overall morale of the entire company. And when a company is strong on the inside, it will be strong on the outside and able to grow and thrive and become more profitable for the employer and employees as well.