Basic employee benefits mean different things to different employers and companies. The goal should always be to provide your employees with quality group health benefits. The more comprehensive Michigan employee benefits can be, the happier and more dedicated your employees will be, and the better your retention levels will be.
Prioritize These 6 Michigan Employee Benefits
You want to provide value to your staff, incentivize potential employees, and define an employee benefits plan that works with your company design and budget. As you consider what is best for your team, know that the basic Michigan employee benefits often include all or at least many of the following:
- Medical: Large and small businesses can offer group health and medical plans to their employees. There are various options for funding these plans, including self-funded employee health insurance, fully insured, or level funding. Long-term care insurance can also be an attractive option.
- Retirement/401(k): A good retirement plan can make all the difference between getting that coveted new hire or not. This benefit can include retiree medical plans, broker-assisted 401(k) plans, and more.
- Disability: Your company doesn’t have to be involved in a high-risk field to warrant offering disability to your employees. Disability benefits come in short-term, long-term, and statutory plans, as well as paid family leave, salary continuance, and more.
- Dental and Vision: Eyes and teeth are not typically covered under basic health insurance, which is why employees are thrilled with an option to accept a dental and/or vision group insurance plan or voluntary individual insurance plan.
- Travel Medical: International company? Employees travel often? Travel medical insurance is a necessity, whether for single-trip or multi-trip. Long-term major medical insurance for international travel is also a smart choice.
- Life insurance: Many adults only have life insurance through their employer. You can offer group-term life insurance that is employer paid, employee paid, or contributory. Additional options include key man insurance and varying coverage for high-level employees or contractors.
Good Michigan Employee Benefits Retain Employees
Your business is only as good as its employees, and your employees will work hard and stay dedicated to your company if they and their families are well provided for. Carefully vetted and selected Michigan employee benefits are the way to woo prospective job candidates and hold onto the people who are already on your payroll.
It’s not just the benefits you offer but the way they are accessed that also makes all the difference in employee satisfaction. A smooth enrollment process is highly coveted – insurance and benefits can be confusing. When employees known exactly what they’re getting, and trust that they have the coverage and benefits they were promised, they’ll be more satisfied.
Employers also deserve some special perks, and an online benefits and resource reference library covers not only all the questions you have about your Michigan employee benefits, but provides general human resources support too.
Partner with an Accessible Employee Benefits Corporation
It is essential to choose the right Michigan employee benefits corporation that is partnered with large networks of established and reliable group benefits providers. At The Benefits Group, it is our goal to offer you desirable, employee-rich benefits at better rates, fulfill your compliance demands, and support your entire team of employees in understanding and using their employee benefits.
Customize employee benefits to suit your employees and their individual and family needs. Contact us today to learn more.