To entice talented professionals to join your staff, you should consider offering supplement insurance benefits. These optional coverages are typically provided by the company but are paid by the employee through a payroll deduction plan.
Voluntary Insurance Examples
Voluntary benefits, also called supplemental insurance, can include items that aren’t provided in the general benefits package. These options may be very important to some employees who may not have the resources or time to research them. Examples include:
- Life insurance
- Vision and dental insurance
- Car or homeowner’s insurance
- Disability benefits
- Long-term care
- Medical insurance for pets
Advantages of Voluntary Insurance Benefits
Offering supplemental insurance options to employees is especially effective for small businesses that may not be able to offer the same benefits package as larger companies. Without these benefits, you may lose top talent to the bigger company.
Voluntary insurance options can improve employee satisfaction and productivity. If workers see that the company is going the extra mile to help improve their lives, it can go a long way in keeping good workers. By giving employees the flexibility to choose only those options they need, they also feel more in control of their situation.
Giving your employees supplemental insurance options will make them happier and keep your company running smoothly.