Getting the best employee benefits for your small business can feel like a daunting task. With so many options available (and variables), it can feel like trying to find a needle in a haystack. But offering excellent employee benefits is important not only for employee retention but for attracting quality talent, too.
Employees want to feel as though their employers have their backs. After all, statistics reveal that a person spends about 90,000 hours of their lives at work. That is one-third of a lifetime. That’s a big deal. And as the landscape of full-time work continues to change after the pandemic, offering employees benefits is more important than ever.
Providing Employee Benefits
When employees feel valued and appreciated, they are more likely to stay with the company for a more extended period of time. Benefits give a business a competitive edge in the market. Employee benefits can be an important factor in employee job satisfaction and, as previously stated, can help attract and retain top talent.
Employees often feel a sense of loyalty when their employer shows interest in their personal well-being. Offering a comprehensive benefits package lets your employees know that you care about them, want to ensure they are healthy, and that they are of value to your company.
While providing employee benefits isn’t cheap, it can be a much more affordable option than high turnover and having to train unqualified or low-quality employees.
Research shows that over 50% of employees in the workforce feel satisfied with their benefits package. Check out the link for a full report on the workforce.
When employees have access to benefits such as health insurance, retirement plans, and paid time off, they are more likely to be happy with their job and feel valued by their employer. This can lead to improved morale, motivation, and productivity.
Overall, offering employee benefits can be an effective retention strategy for businesses, helping to improve employee satisfaction, loyalty, and productivity, while also reducing turnover costs.
CBR Can Help
HR is complex — let’s be honest about that. And if you are not an HR expert, finding the best solutions across the board for your team can feel impossible. Especially while running a business. However, you don’t have to fumble through this process alone.
CBR is a Professional Employer Organization (PEO) that takes the mundane, yet often complicated, HR tasks off of the shoulders of busy business owners. And because we are a PEO, CBR can offer better employee benefits for small and medium-sized businesses due to our economies of scale.
By pooling employees from multiple client companies, CBR can negotiate better rates for employee benefits, including health insurance, retirement plans, and other benefits.
We can also provide access to benefits that may not be available to smaller businesses due to their size. For example, CBR can provide access to multiple health insurance plans, which can offer a wider range of benefits and lower premiums than what is available to individual small businesses.
The biggest bonus here? Not only do we have access to better rates and benefits packages, but we are HR experts. Our team is composed of HR specialists that cover every inch of human resources. We know our stuff. CBR has been around for over 30 years and we have helped countless businesses provide excellent benefits to their employees.
And in doing so, we have saved our clients thousands of dollars by offering premium rates and helping them to keep their employees happy.
Employee Benefits for Small Business and More
CBR also handles the administrative burden of managing employee benefits, including enrollment, plan management, and compliance with employment laws and regulations. This can save small businesses time and resources, because they do not need to hire additional staff to manage employee benefits.
Our 30+ years of experience allows us the expertise to offer sound advice and guidance on employee benefits — making it easy for small businesses to choose the right benefits packages for their employees. By providing education and support, CBR helps business owners to ensure that employees understand their benefits and how to use them effectively.
Work With CBR
When you outsource your HR, you make in-house day to day tasks easier. CBR takes care of everything from payroll to immigration compliance. And if you are looking for insurance specifically, we are well known for finding the best insurance policies for small businesses. Don’t believe us? Read the reviews.
Ready to learn more and potentially work with the best PEO in town? We can’t wait to chat.