Did you know that employee experience affects the productivity and profitability of your company? Your employees are your greatest asset and it’s important that you care for them as such.
Did you know that employee experience affects the productivity and profitability of your company? Offering the right benefits plays a key role in adding value to your employees’ personal and professional lives. Your employees are your greatest asset and it’s important that you provide and care for them as such. In this article, you’ll learn how benefits help your company, what caregiver benefits other agencies are offering and how to administer the right benefits to your employees.
Benefits Help the Whole Company
Benefits can jump start an agency’s growth. By law, companies are required to offer certain benefits such as time off to vote, workers’ compensation, short-term disability programs and Federal Family and Medical Leave. However, today companies are offering added benefits such as retirement plans, health plans, dental and vision plans, paid vacations and flexible schedules. 60% of home care agencies report having to turn down cases because they didn’t have enough caregivers to staff them. Addressing and administering the right caregiver benefits can help agencies reduce caregiver shortage and turnover.
Companies that offer benefits that meet the needs of their employees are jump-starting their growth because they can attract good talent and more importantly, hold on to it. While the ability to offer various benefits will depend on the size and circumstances of your individual agency, it’s still important for every agency to continually evaluate whether they could expand their benefits to better meet their employees’ needs.
Benefits can be a short-term fix for long-term growth. In the short term, it’s easy for business owners to hold on to dollars for fear of never seeing them again. However, in order to give your business a chance for long term growth and success, it’s essential that you offer benefits that drive personal and professional improvement for your employees. “When you give employees the benefits they value, they’ll be more satisfied, miss fewer workdays, be less likely to quit and have higher commitment to meeting the company’s goals,” said Joe Lineberry.
As you begin to administer or continually analyze your caregiver benefits, keep in mind the opportunity for long-term growth. Dedicating time and resources into benefits packages can appear lower on your priority list at times but know that employee benefits will help generate long-term growth by reducing employee turnover and combat employee shortages.
Offering good benefits can keep employees from jumping ship. Offering standard pay nowadays isn’t enough to motivate people to keep working for you. If you can offer the right benefits, your company will be able to hold onto good talent and even attract new talent. Benefits help motivate and unify a company, resulting in higher productivity for individuals and more success for the company. Whether you’re a startup agency or have been in business for 5+ years, it’s important to meet the professional and personal needs of your employees through benefits that add value to their lives.