Employee Benefits

For any business, big or small, benefits serve as a crucial part of employees’ remuneration package. In fact, employees look forward to health care benefits the most, coupled with holidays and monetary perks. Therefore, it makes sense for business owners to give serious thought to offering health benefits. Not only does this work in the employees’ favor, but it also helps employers attract and retain high-performing staff and avoid exorbitant expenses in the long run.

One of the main reasons employers willingly provide health care benefits is to take advantage of economical health insurance plans, which in turn, provide them with tax breaks.

With that being said, offering benefits cost money, time and can be an administrative burden.

WealthGuard Partners with our Client in Communicating Value
Our main strategic priorities for employee benefits are:

1. Controlling health care costs
2. Ensuring employees understand the value of their benefits package
3. Retaining employees (18 percent).
4. Increasing employee engagement (9 percent).
5. Recruiting new employees (8 percent).

Employers have shown some success with controlling the rising cost of health care—primarily by offering consumer-directed health plans such as high-deductible health plans with health savings accounts or health reimbursement arrangements (56 percent of respondents), and creating an organizational culture that promotes health and wellness.