Why are health benefit plans such an important component of the benefits package?
With the continuing ascent of health care costs, not having health insurance means not having affordable health care. Most employees are increasingly recognizing that quality healthc are benefits add great value to their compensation package. Many people prefer to work for a business with a group health insurance plan because they could not qualify for, or afford, individual health insurance. Even if they were accepted for an individual health insurance plan, people may have to pay higher monthly premiums, have higher copays, and have no coverage for pre-existing conditions. Given all of these factors, an affordable, quality health insurance plan can help you hire excellent employees and retain them in the company. Why is employee retention crucial to companies’ success? Employee retention is a key factor in containing business costs. Every time an employee leaves, the company accrues the additional cost of recruiting and hiring a replacement. These costs can range from interview expen
