In today’s competitive business environment, it’s imperative for employers to undertake adequate measures to attract and retain top talent and achieve their business targets. Companies are now placing increasing emphasis on providing employee benefits to their staff.

After all, research shows that the provision of employee benefit plans can be a significant source of competitive advantage for businesses. On the hiring front, a 2015 Glassdoor’s survey shows that 60% of people reported that benefits and perks are a major factor in considering whether to accept a job offer. In addition, 80 percent of employees said that they would choose additional benefits over a pay raise.

Offering a benefits package is a practical way of rewarding your employees for their hard work and efforts. Here is how a great benefits program can give your organization a competitive advantage:

Enhances Your Organization’s Appeal

Skilled, qualified employees are the foundation of any successful business. However, as business world is rapidly expanding and offering more job opportunities to people, companies may find it exceedingly difficult to attract the best talent.

In order to bring great people on board, you need to give them something extra that will differentiate you from others. Offering a variety of solid benefits, such as health plans, retirement plans, etc. can help you do just that.

Also, strong companies have the financial resources to offer benefits to their staff. By offering a benefits package, people are likely to get the impression that you’re a stable company. 

Boosts Employee Morale

Another big advantage of providing benefits is to improve your team’s morale. When your employees obtain tangible benefits, they will feel more motivated, engaged and productive at work. Ultimately, employee benefits can boost employee productivity and organizational output by improving employee loyalty towards the company.

Reduces Employee Absenteeism  

If your benefit package includes a health or dental plan, there’s a greater chance that your employees won’t need to take too many days.

Also, offering sick leave can ensure that workers who are sick won’t contaminate the work place and lead to others getting sick, as a result.

While a benefits package can significantly reduce your company’s turnover rate, it’s important to offer innovative benefits that are demanded by your workforce and can address their needs.

If you need to create or revamp an employee benefits package in Delaware, contact JS Benefits Group. Our knowledgeable, experienced employee benefit professionals offer customized packages to clients in Delaware.

Get in touch now if you have further questions or want to schedule a consultation.