Keep Your Top Talent with Five-Star Employee Benefits
Heavy turnover at any company doesn’t bode well for an employer’s reputation and creates an environment of inconsistency. Without a team that knows their strengths, works well together, and is focused on present and future goals, success can be elusive. Providing Michigan Five-Star employee benefits that are too good to give up makes it harder for employees to be disloyal or look elsewhere for employment and helps contribute to an atmosphere of progress and productivity.
Reward Employees for Their Dedication
When employees are supported by their company with great five-star employee benefits and other perks, they feel valued and important. These emotions encourage employees to do their best, trusting that they will be taken care of and rewarded appropriately.
The most dedicated and long-lasting employees often have longevity with a company because the employer has created five-star employee benefits program that improves over time. Consider the following perks – all financially based – for tenured employees:
- Escalating bonus structure.
- More paid time off.
- 401(k) matching contributions with a vesting period.
- Stock options with vesting periods.
- Retirement plans.
And, of course, along with excellent group health plans – including dental and vision – a disability policy, life insurance, and retirement plans, enhanced Michigan health benefits can include:
- On-site fitness facility.
- On-site childcare.
- In-office health classes, like yoga or nutritional seminars.
- Daily healthy lunch options on-site, provided at no cost or low cost.
- Work-from-home options.
- Continuing education.
Not all employee benefits need to be related to health insurance or investment opportunities to make employees happy. The following perks can override a person’s feeling that they should perhaps look for employment elsewhere:
- Flexible schedule, allowing for a customized work-life balance.
- Office improvements, like a private office or standing desk.
- Admin support, like a shared assistant.
- Title changes, showing that an employee has earned a bump-up (just consider whether the change is merely lateral or whether it will come with a salary increase).
Five-Star Employee Benefits Contribute to the Definition of a Company’s Culture
Investing in quality employee benefits is worth the cost. Employee turnover is not just an inconvenience, it’s expensive. There are costs to recruit, interview, and train, plus the productivity time that is lost while working for weeks to fill an open position.
Employee retention is part of company culture. If employees see coworkers jumping ship for no obvious reason – whether one or many – they will want to identify why this turnover is occurring. Even if there isn’t a major element that is causing employees to leave, every departure is an invitation for employees to review everything about their job to figure out what they might be overlooking, and this includes an evaluation of their benefits. Could their employee benefits be better? Maybe they should look elsewhere for heartier benefits that improve over time.
The benefits you offer speak to how much you value your employees’ presence on your team and what your company’s leadership considers important. Not only will great benefits keep current employees from looking elsewhere for employment, you will maintain existing employees.